After you apply, the processor orders the appraisal and title work, verifies income and assets, collects missing documents and answers the underwriter’s questions. A contract loan processor does this for brokers and lenders as an outside partner.
Why it matters
A well prepared file moves faster and runs into fewer surprises. The processor is often the one who spots a problem early and tells you exactly what is needed.
Where you meet it
Between application and closing. Our guide on what a contract loan processor does explains the role in detail.
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