What Does a Loan Processor Do? What Is Mortgage Processing? 🤔🏠 (Loan Processing 101)

#loanprocessor #homeloan #buyingahome
Clearly, I love doing loans! Need a mortgage or want to chat about your scenario? I am licensed in 46 states for purchase and refinances. Here is how to contact me:

3) Call me 707-478-0637

TikTok @jenniferbeeston

Jennifer Beeston, SVP Mortgage Lending NMLS 247743 at Guaranteed Rate, Inc. NMLS 2611
Branch Address: 4863 Old Redwood HWY, Suite D, Santa Rosa, CA 95403
Top 1% in the nation 2016-2020

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NMLS #247743 Guaranteed Rate NMLS 2611

State License Numbers: AK - AK247743, AL - 72998, AR - Licensed, AZ - 1007541, CA - CA-DOC247743, CO - 100516570, CT - LO-247743, DC - MLO247743, DE - MLO-247743, FL - LO66900, GA - 70357, HI - HI-247743, IA - 33839, ID - MLO-2080247743, IL - 031.0054184, IN - 41478, KS - LO.0039219, KY - MC717200, LA - Licensed, MA - MLO247743, ME - Licensed, MI - 247743, MN - MN-MLO-247743, MO - MO-247743, MT - 247743, NC - I-189119, ND - NDMLO247743, NH - Licensed, NM - Licensed, NV - 66544, NY - Licensed, OH - MLO-OH.247743, OK - MLO20600, OR - 247743, SC - MLO - 247743, SD - MLO.08498, TN - 205478, TX - Licensed, VA - MLO-40552VA, VT - VT247743, WA - MLO-247743, WI - 247743, WV - LO-247743, WY – 8203

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information.

All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.

Guaranteed Rate, Inc. is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency.

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[schaedo]

I do this for a living and i feel like you just put my life into words with this video. THANK YOU!

[jeremybdman]

Loan Processor's favorite thing ever, taking out a car loan two days before closing! My wife has 20 years in the business, currently working as a Processing Manager and I've learned to love and appreciate the loan processor. My wife is so passionate about loan processing I have taken a big interest in what she does. Processors are amazing you guys, Jennifer gets it! A loan officer wouldn't survive without one :)

[ShelbySteele]

Started processing about 2 months ago and it gets crazy stressful so please treat your processor with kindness and respect. They're only asking because they know it will be needed.

[mommyandme]

Hey i was wondering do you know how long the process is for the processer

[jakeballard]

3 home purchases - EVERY TIME the processor asking for unnecessary documents or asking question that are answered in the file - don't get me wrong - I'm sure there are good loan processors out there - yet not in my experiences - Also any good MLO can process there own file and doesn't need to pay a processor a part of the commission

[dnlcast]

I was a Loan Processor for about 5 years, then when Biden took over, the interest rates sky rocketed, we got laid-off :( But, I see that many companies are returning from that downturn, and are hiring again! I want to come back to this industry.

[rays]

Loan officer's rarely review the documents submitted to processing. I've literally rejected loans to underwriting because the DTI is no where near the required threshold. But LO's complain and demand that I submit it anyways!

Seriously, wtf! We cannot arbitrarily submit loans to underwriting!!! It's our job to filter out the bad loans from the good ones.

[sahjulhoque]

I have 2 years of experience in loan processing. And it's very interesting job role

[Themudohs]

I love when a file is well done. Some processors at my company are really good at what they do, they provide everything I need and are pretty responsive during my review. Some processors simply just do the bare minimum and abandon the file to me.

[usefultipstricksandhacks]

Why am I the one calling my processor 10thousand times? He has been asking me documents last minute to the point of delaying my closing twice🤨. It is so frustrating.

[Marketplacere]

Great video. Now everyone will know how to analyze and scoop up the deals!

[chimezoh]

Hi Jennifer, want to know if you have any advice or recommendations for new loan processors who are just joining the industry considering that it's a busy one and most employers are not willing to train.

[brandeewheeler]

Any suggestions to someone who wants to break into the mortgage lending industry? I’d love more videos that talk about the careers in the industry and what it takes to be successful!

[jonettahanson]

I'm sorry but if you don't mind me asking, where did you get that lamp? It's so pretty!!

[JacobHarry-oqid]

Love you beautiful girls ❤️ good knowledge

[lemonandtootsie]

I have dealt with a horrible loan processor. How to know. Asks for things one at a time instead of giving you a list of things they k ow they will need. For examples, she asked me for my most recent paystubs since it has been iver 90 days, and then waits a few days and asked me recent bank statements. Another is saying something like I spoke with this and that and they are currently on vacation so its taking longer to process. Then they say oh they had a family emergency so out again another week. Bad communication. Saying that " everything done in our end" when really its not if the insurance for your condo is not obtained and you tell me someone else is working on that, only for 5 days to pass and then you tell me I need to get that when I ask for an update. I got the insurance for my condo and sent it to the bank is literally 40 minutes so why wait 5 days for literally nothing to happen. Omg the list goes and on with the horrible person I dealt with. She still has not even told me that my loan funded, I had to find out from my escrow officer who is way more responsive.

[entreprene]

Hi, Where can I get Loan Processing Training? Thanks

[speerfisher]

Hi Jennifer, i have an interview tomorrow for a loan processor job. Im really excited for it, I'm a meticulous person that loves offering great customer service. Any advice for a restaurant manager/server changing career fields? Thanks in advance(if you catch the comment before tomorrow)

[mattjp_]

This is awesome. I just re-entered mortgage processing. It is stressful but a highly rewarding industry. You’re helping people achieve their goals and that alone should be a great feeling !

[simpleme]

I'm thinking about doing this, I'm scared because of no experience and messing things up.