What Does Your Client’s Processor Do?

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Guardian Mortgage is dedicated to providing unparalleled customer service to every one of our clients – buyer, seller, or agent. We aim to make the transaction as painless and effortless as possible. Buying a home is one the biggest financial decisions for clients. It’s an exciting moment in life, and we’re just as excited that we’re able to play a part in it. In fact, a lot of our content is geared toward helping everyone better understand the entire home buying or selling process.

Which leads us to our newest Trusted Tool series, What does my client’s _____ do?

This series will help define the many different people involved with a mortgage process. The first position up is the Processor.

A Processor is essentially the liaison of communication between you, the underwriters, and the closers. The Processor’s goal is to gather all required documentation, obtain your “clear to close” approval quickly, and handle any conditions so your file can move along to closing.

Some of the important duties a Processor is responsible for include the following:

  • Review documents
  • Calculate and verify income
  • Order appraisal if it hasn’t been done already
  • Order title paperwork
  • Order evidence of homeowners insurance
  • Request flood certification and flood insurance if necessary
  • Gather tax certification from title company 

Once they’ve received the required documents, they’ll submit the file for an initial underwriter review. After they receive the reviewed file, they’ll work to gather any other items required for underwriting from the borrowers. Then they resubmit for a final review by the underwriter. If approved, then the underwriter submits the file for closing.

After closing, the borrower can finally get the keys to their new home! Which is what we love to see. Clearly, the Processor plays a significant part in the entire mortgage process, and it may take considerable effort to collect all the information they need to do their job. We find once people know what a person does, it creates a better expectation for a time frame to anticipate toward their efforts.

We hope you enjoyed learning a little bit more about the mortgage process, and we look forward to showing you even more with this new series of content. If you have any questions about the mortgage process, Guardian Mortgage loan professionals are always available to help.