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Processing the Mortgage Application


There is more to a mortgage processor's job than merely compiling documentation, although the task of getting all of the necessary documentation together for a mortgage closing can be quite time-consuming on its own. Mortgage processors are typically also responsible for requesting services to complete the application process.


The mortgage lender needs to ensure that the home is worth the amount the seller claims it to be worth. This is a safeguard for the lender to make sure money is not given to a borrower for a home that is not worth the amount of the loan. The mortgage processor may contact an appraiser directly to order an appraisal of the home before the loan can go to closing or they may request that the borrower obtains the appraisal and forwards the results.


If the lender requires a home inspection prior to sending the loan to closing, the mortgage

processor will ensure this task is completed before the file lands on the desk of the closer. The cost of the inspection is generally covered within the buyer's closing costs.


The land surrounding the home being purchased must be surveyed and a recent survey must be submitted for the mortgage loan file before the loan will close. The mortgage processor will either request a survey on the land or will review a recent (less than 10 years old) survey to make sure that it is sufficient for the lender's records.

What Is a Mortgage Loan Processor?

A single mortgage file can require a great deal of documentation and actions. So what is a mortgage loan processor? This is a professional who cannot only keep all of the information organized, but who can also make sure that everything is submitted in a timely manner in order to meet the closing date.

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