Loan Processing

- Loan processing is the fifth step in the mortgage process, where the lender works behind the scenes to verify all the information provided in your loan application.

- During this stage, a loan processor reviews your documents—such as income proof, employment history, credit report, bank statements, and property details—to ensure everything is accurate, complete, and meets the lender’s requirements.

- They may contact your employer to confirm your job status, review your credit for any recent changes, and order an appraisal to determine the property’s value.

- This is also when the title search is initiated to confirm that there are no legal issues or claims against the property.

- The processor’s goal is to create a fully documented and verified file that will be sent to the underwriter for final review.

- This step is critical because it ensures that all the financial and property details are accurate, reducing the chance of delays or surprises later in the process.

- Staying responsive to any requests for additional information during loan processing can help keep things moving smoothly toward approval.