One of the best ways to learn more about this career is to talk with a loan processor. Ask your business teacher and school counselor for help arranging interviews. Once you set up an interview, ask the following questions: What classes in high school and college should I take to prepare for this career? What do you like most and least about your career? What’s the best way to break into the field? What is the employment outlook for loan processors?
Learn as much as you can about mortgages and the banking industry by checking out the following resources:
Once a loan application is completed, it’s the job of the loan processor to review the document and accompanying financial statements, clarify any confusing or missing information, and prepare the application for submission to the loan underwriter, who evaluates the application and approves or rejects it based on the applicant’s credit history, employment history, assets, debts, and other factors. Before the application is submitted to the underwriter, the loan processor has the following responsibilities: