The Role of the Processor

August 17, 2020

Once you and your loan officer decide on a mortgage that fits you best & begin your application, the loan processor’s work begins. This includes: 

  • Entering your application information into the system
  • Coordinating with appraisers, closing attorneys, insurance companies, and employment verification companies
  • Informing you of underwriting requirements and helping you meet them 
  • Verify information through documents you supply
  • Order the final loan documents
  • Ensure the loan stays on track to close on time

 

The processor is the link between you, your loan officer, and your underwriter. The processor’s main function is to fulfill the underwriter’s conditions in an efficient and clear fashion to get the loan to closing on time. So what should you expect if you get a call or email from yours? They may reach out to verify documentation or for any additional information so they can ensure your loan stays on track to close on time. Remember, your loan processor is working on your behalf. The quicker a borrower gets the requested information to the processors the better the chances at closing on time

 

Here at Tabor Mortgage Group, our loan processors are among the best in the business at clearing underwriting conditions and getting our borrowers’ loans to closing on time. Please give us a call if you’d like us to put our amazing processing team to work for you!