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Loan Processor Training

Become A Loan Processor With Our Loan Processor Training Courses

What Does A Loan Processor Do?

While Loan Officers are responsible for generating loan business and taking the initial loan application, Loan Processors typically do the hard work of double checking the paperwork, correcting any errors, and corresponding with the underwriter to make sure the loan is approved.

Essentially, once a loan is originated by the mortgage broker or loan officer, the corresponding paperwork is sent along to a loan processor. The loan processor is then responsible for prepping and organizing the file and getting it over to the bank or mortgage lender for approval.

NMLS SAFE TrainingThis work includes:
  • Organizing the loan application's documentation and makes sure it's in order
  • Reviewing the loan package as given by the lender for completeness and accuracy
  • Verifying the borrower's credit history in terms of debts and payments
  • Checking appraisal and property issues requiring further justifications
  • Determining if the application and ensuring requirements and paperwork comply with the lender's standards
  • Contacting the borrower if information is missing or if additional information or documentation is required

Find Loan Processor Training Courses

Here are a few of the things you will learn from taking our Loan Processor training courses:
  • Mortgage Terminology
  • Loan Ratio Calculations
  • Loan Documentation
  • Disclosures
  • DTI Ratios
  • ARMs
  • LTVs
  • Escrows
  • Credit Reports
  • Purchase Agreements
  • Processor Duties
To find Loan Processor training courses, either select one of the recommended courses or "Loan Processor" from the "Professional Development" section of the search box below.

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