Buying A Home
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Loan officer question & advice
This might not make since but who is the loan officer? We have a Loan Consultant and a Loan Processor. Is that one of them? We Signed a contract and sent all our info to the consultant and our stuff went into underwriting and it says that our processor would call us with-in a few days. We are trying to close by the 30th of this month. It is a new home. Any info would be great. Thanks
Re: Loan officer question & advice
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Your loan officer is the person who originated your loan. Essentially, the salesperson. A processor (which is what I am) will contact you to get necesary documentation to get the loan in and out of underwriting, and generally works in conjunction with the underwriting department.
However, my company has a VERY stringent policy that the loan officer is the only point of contact for the borrower. So some of this may vary from lender to lender.