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Loan Procedure |
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Processor's Job Procedure |
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Before submission
1. Processor completes a loan application and check up credit(use proper credit company depending on lender)
2. Order escrow instruction, title and appraisal if necessary(C/W do not require appraisal sometimes)
3. Make a complete package with necessary documents(tax returns, bank statements, w-2 forms, copy of home owner's insurance...) before submission.
*Use "point program" for loan application
After submission
4. Lock the rate at proper time
5. Follow up the coditions that have to be done by Account Manager. (CHECK UP "VIEW" SECTION IN LOAN STATUS MENU)
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Loan Officer's Job procedure |
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Same as Processor
Before you go next step, discuss with Processor. |
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Processor's job procedure |
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1. Check up the loan application and Complete it.
2. If all documents are ready, submit the package to lender
3. After final approval, check up the conditions and follow up the conditions that the processor has to do and notify Account Manager the coditions that has to be done by Account manager.
4. Confirm the fees and order loan document.
5. Check up everything until close
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