How do you want to be a loan officer or processor?

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I discovered what to do in the mortgage / real estate sector stakeholders need. Can anyone explain the difference in the types of positions and how to get proper training? The more information the better. Thank you!

  1. Reply
    February 9, 2011 at 5:26 am

    I know nothing about this field. I recommend going to your local commuinity college and asking an advisor what they recommend for your interested career path. Hope this helped a little, best wishes to you.

  2. Reply
    February 9, 2011 at 5:35 am

    A loan officer finds the loans and gets the client to use her to buy the house or refinance. LOs get the initial information (1003) signed by the client, including the required disclosures and income documentation, and sends the “package” to the processor. The processor does the dirty work in ordering payoffs and getting the package “stacked” correctly to go to the underwriter.

    If you want to enter the mortgage industry, I suggest contacting the largest lender/ broker in your area to start as a loan officer. Once you get the time in as a LO, you will A) Know if you actually want to be in this insane industry and B) Learn the steps in order to be a processor in the future.

    Good luck!

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