One of the most important skills for a mortgage loan processor is attention to detail. The loan application process involves numerous documents and requirements, and it is crucial to carefully review and verify each one for accuracy and completeness. A keen eye for detail helps identify any discre...
….Time that you could be spending doing actual loan-getting activity. Instead, most of these things have you “getting ready” to do actual loan-getting activity as opposed to actually “doing” loan-getting activity. See the difference? “Getting ready” is a colossal waste of time, money...
We sent all the documents required at the beginning, but the loan processor repeatedly asked for them. She asked for the same document 3-4 times throughout the process, which was very frustrating. Communication was not clear as well. They did not send closing disclosure until we asked for ...
Ally’s standard limit for a conventional mortgage loan is $647,200, but this can be higher in more competitive real estate markets. For jumbo loans, Ally offers loan amounts up to $4 million. What is the minimum down payment Ally will accept?
A credit score of 680 or above is required to qualify for the best mortgage rates in Canada. Some mortgage providers allow you to qualify with credit scores between 600 and 680, but these providers may charge higher interest rates.
This is the rate used to computer the equivalent, on an annual basis, of the present value of all loan repayments and charges, future or existing, agreed between the creditor and the consumer. Security (mortgage right) required on the financed property General conditions Consents required to ...
Cons: You’re required to pay a mortgage insurance premium (MIP)—a fee similar to PMI, except that you have to pay it for the life of the loan. The only way to remove MIP is if you have more than a 10% down payment—but even then, you’ll still have to pay it for a duratio...
The FHA is also more lenient about work history.FHA loan guidelinesstate that previous history in the current position is not required. However, the lender must document two years of previous employment, schooling, or military service, and explain any gaps. ...
This basic course provides an thorough understanding of mortgage loan processing from both a loan processor and underwriter’s point of view. More Details / Order Mortgage Underwriter 101 - The Essentials With this mortgage underwriting course, you'll learn how to become a mortgage loan underwriter...
Loan Officer Caliver Beach Mortgage, LLC Jersey, NJ FULL_TIME Do you have strong relationship building skills? Have you built your business largely on referrals? Are you an entrepreneur at heart? If so, then we have an exciting opportunity for you. Become your o... 19 Days Ago Ap...