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Process: Understanding the Mortgage Process



Let's talk about mortgages, when you're getting ready to have one, you're going to have a loan officer, an order out person, a junior processor, and on the right and closer. Now the mortgage process, when you make an application with the loan officer, that's just the beginning, he's going to be the first person that gives you a list of all the documents that you going to require, and then once that's done, he's going to be assigned as your point of contact throughout the process.

Now to order our person, a junior processor, their purpose is to compile the information that's going to be necessary for evaluation by the processor.

So they're going to review and confirm that they have your current bank statement. They're going to review and confirm that they have current pay stubs. They're going to check, review and confirm and they have your proper tax returns and W-2s. They're gonna contact your company's Human Resource Department to have them send direct information on your job or employment status.

Then they gonna compile all this information into the proper format for the next person to review it. They're going to confirm that they have everything with a checklist. And they're gonna complete that before they pass it on to the processor.
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