A loan processor is responsible for managing the administrative tasks associated with loans or mortgages. These tasks include data entry, loan application verification, background and credit checks, communicating with applicants, and preparing loan applications for submission to underwriters. Loan processors ensure that all required documentation and signatures are in place prior to submitting the loan for approval. Mortgage loan processors also must be able to deal with real estate and escrow agents, buyers, homebuilders, and all others who are involved with the home-buying process. In this way, mortgage loan processing can be more complicated; however, most loan processors work in the mortgage or automobile loan industry.
Loan Processor Tasks
Order title and escrow, review them and process loan conditions.
Work with clients and loan originator to obtain necessary information, process it and finalize loan documents.
Complete and maintain all paperwork for ongoing and new loans, including loan disclosures.
Submit completed loans to underwriting, and ensure all items are obtained.