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THE HOUSTON MORTGAGE LOAN PROCESSOR

The loan processor is a key person to successfully closing a loan. The mortgage processors duties are normally not seen by the consumer. The mortgage loan processor is responsible for performing duties related to Texas FHA, VA, and Conventional mortgage loan applications.

Duties Include.....

-Set up of tha customer loan files

-Timely issue proper disclosures as required by Ferderal Regulatory Compliance

-Order all necessary exhibits (title, appraisal, verifications, survey, etc.

-Generate necessary loan documents

-Order a Credit Report

-Order evidence of hazard insurance

-With the loan officer, coordinate with buyers, sellers, title companies, escrow, surveyors and real estate agents regarding additional documentaion, loan submissions, and loan closings

-Review all documents thoroughly before submissions to underwriting

-Review loan pipeline report weekly

-Update conversation log as to status of the loan file as needed

-Obtain and review for acceptability loan conditions

-Ensure overage/underage is approved as well as waiver of any fees

-Review rate lock

In summary the loan processor takes care of many of the details necessary to complete a mortgage loan. The processor works closely with the loan officer to meet the requirements of the lender. The final result of the loan processors duties is a thick file of paperwork with all the specific loan documents. The fee for the loan processor's service is included in the borrower's good faith estimate.

If you have any questions about how the process works please contact one of our Texas Capital Mortgage loan officers.