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Useful Terminology Associated with Mortgage Loan Processors

Mortgage loan processors and originators work to ensure that loans are handled in a timely manner. This often includes gathering information, accurately packaging home loans, and working with lenders to input correct data into the system. While loan originators or officers often get the loan agreement started, it is a processor’s responsibility to follow through with closing documents. This means making certain that all documentation is handled, and everything complies with the lender’s policy. Here are some useful terms that are often addressed by mortgage loan processors and officers.

  • Adjusted Basis – This refers to the cost of a property, in addition to the value of any capital required for home improvements or expenditures that may apply. Any property depreciation is subtracted from this amount.
  • FHA Loan – A home loan that is insured through the Federal Housing Administration. This type of loan can be obtained by anyone who qualifies, but there are limits to the amount of money you can borrow. This type of loan is generally for moderately priced homes.
  • Subprime – This refers to loan or credit arrangements that pertain to borrowers with bad credit or a poor credit history. These borrowers often have high interest rates, which are unfavorable for mortgage loans.
  • Fixed Interest Rate – An interest rate that applies to the life of a loan, regardless of whether it is for a commercial property, residential home, or other expense. This rate determines how much money you pay to interest each month, but does not change.
  • Margin – The amount of money a lender adds to the index, which applies to an adjustable rate mortgage. This amount of capital is added to establish the adjustable interest rate.
    Lendingtree, Llc
    Our Texas mortgage processors area here to help you process your financial loan needs. Get home equity loan processing and mortgage loan processing from our professional loan processors.
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    User Review: "I have prefered to use the lendingtree.Com for the housing loan because they are faster and easy to use, they have good..."
    National Association of Mortgage Processors
    Washington, DC 20036
    Your source for Texas mortgage processors Top quality Texas mortgage processors.
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    Kp Contract Processing
    802 Antelope Ridge, Cedar Park, TX 78613
    Residential Mortgage Loan Processing Conventional & VA Loans from start to finish.
    (512) 260-1802
    Supreme Lending - Refinance
    14801 Quorum Dr. Dallas, Tx 75, Dallas, TX 75254
    Mortgage education is important when refinancing or buying a new home. Our company helps you make the correct decisions regarding lending, costs and rates.
    (972) 200-9854
    On Q Financial Inc. Houston mortgage rates
    3801 Kirby Drive, Suite 400, Houston, TX 77098
    Mortgage loan processor focused on providing all clients with competitive home loan products. We offer fixed rate, adjustable rate, and jumbo mortgages, and go the extra mile to find the lowest interest rates for you.
    (713) 405-1455
    Home Loan Specialists
    3845 Cypress Creek Pkwy Ste 193, Houston, TX 77068
    Our professional company is here to handle all of your mortgage and loan needs. Specific areas we are knowledgeable in include fixed rates, credit applications, commercial businesses, and more.
    (832) 286-1600
    Century Mark
    3307 Northland Dr, Austin, TX 78731
    Our home loan company offers the assistance you need to help in all of your mortgage endeavors. Whether you are consolidating your debt, refinancing your home, or buying your first house.
    (512) 617-1967
    Grove Mortgage
    433 Kitty Hawk Rd, Universal City, TX 78148
    A home mortgage company that provides mortgages, conventional loans, VA Loans, reverse mortgages, and more. Other loan products include jumbo loans, commercial loans, and refinance (both cash-out and rate-term).
    (210) 656-1134
    Texas reverse mortgage
    1212 Stonehollow Dr. Suite 4, Kingwood, TX 77339
    Liberty-ReverseMortgage.com specializes in Reverse Mortgage Loans. If you are looking for any How Reverse Mortgage works, its pros and cons or guidelines, call today.
    (888) 202-4479
    Jan Hill Team, Austin Mortgage Lender
    10415 Morado Circle, Austin, TX 78741
    My goal is to help you succeed at one of the most important decisions you can make in your life. Meeting the goal of home ownership is not just a sense of accomplishment, but can also be a great inves
    (512) 531-1837
    Envia Lending, LLC
    8117 Preston Road Suite 300, Dallas, TX 75225
    Envia Lending, LLC is part of the Envia Group family of companies. We are built to challenge the status quo, to have bold ideas and to deliver results.
    (214) 414-9886
    Service First Mortgage - The Davidson Group
    3200 Broadway Blvd,, Garland, TX 75043
    Service First Mortgage -The Davidson Group provides customized services to aspiring home buyers by providing a variety of specialty mortgages, as well as FHA, VA and Conventional mortgages.
    (972) 278-3400
    Richard Smith Katy Texas Mortgage Lender
    22503 Katy Fwy #27, Katy, TX 77450
    Katy Texas Mortgage Lender. We specialize in the Katy and West Houston areas. Call Richard (281) 994-4240 now! We love helping people get in the home of their dreams! Mortgage Broker, Mortgage Banker
    (281) 712-6652
    Resolution Capital
    1349 Empire Central Drive, Dallas, TX 75247
    We are a full service home mortgage lender. Recent Posts Home prices gain, but pace slows Mortgage Rates Move Slightly Higher Ahead of GDP Home Prices Are Up, Supply Is Down—Expect Biddin
    (800) 774-1432
    Robert Reeves Katy Texas Mortgage Banker
    22503 Katy Freeway, Katy, TX 77450
    Robert Reeves, Katy Texas Mortgage Banker NMLS# 1230705. If you need mortgage financing in Katy Texas and surrounding towns and cities, call now!
    (832) 807-4442
    Affordable Mortgage Lenders And Mortgage Loans
    400 South Record Street, Dallas, TX 75202
    Affordable Mortgage Lenders and Mortgage Loans of Dallas can save you thousands! Stop overpaying and call us today!
    (469) 909-0484
    Affordable Mortgage Lenders
    1319 Texas Ave, Houston, TX 77002
    Affordable Mortgage Lenders and Mortgage Loans of Houston can save you thousands! Stop overpaying and call us today!
    (281) 624-5084

    Mortgage loan processors are professionals that are responsible for processing mortgage or home loans. These processors typically work in an office environment, and review applications in order to verify information and gather other data on the applicants. This way they can put together a package of information and application documents to be sent to an underwriter, who will then review the documents in order to see if the applicant is a good candidate for a mortgage loan. When a licensed real estate broker has a client that is interested in a home, this does not necessarily mean a bank will lend them money for a mortgage. There is a conventional process with a loan application that must be completed first. This means that real estate brokers cannot simply close on a home and write up a contract. Financing is the most crucial aspect of home buying. Unfortunately not everyone is approved for a loan, which is typically due to their credit score. However, subprime loans are sometimes given, which are typically referred to as the second-chance or risky loans. Then there are FHA loans, which commonly have the lowest fixed interest rates. As you may know, banks will often outsource in order to get funding for some loans. In order to acquire more information on mortgage loan processors, the lending process, and the current cost or rate of financing for homes, you should speak with a processor near you. There are likely office or company locations in your town or city. Just so you are aware, this is a major commercial business that involves a significant amount of paperwork and sometimes fees.
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