I often say that loan processors and loan officers each have their special gifts. A loan processor is a detail person with the ability to do 100 things at once and close the loan on time or sooner.. A loan officer is an outgoing educator that brings in clients who need a home loan. A loan officer is a guru on rates and the best product for their clients.
Often times the loan officer will start a file before it is sent to processing in hopes of expediting the loan quicker to the finish line. I have learned this rarely works. The processor needs to review the documents and submit a complete as possible file to underwriting as our goal is to close fast and with less fuss. The less times an underwriter touches the file - the faster the file goes through.
This month - I have Cleared to Close 6 files so far - 4 files where I took the reins from the first day and my CTC came in less than 2 weeks.. Two files where the loan officer held the file a little too closely and our closing took much longer as I was unable to communicate with the borrower or review documents in a timely manner.
When a loan officer babysits their files it prevents them from originating and bringing in new business. This is what they do best!
When I start working with a new loan officer it can take time for them to trust that I am good at what I do and that I will make their job easier and more lucurative.
I would love to have a conversation with any loan officer that needs outstanding processing for California and/or Florida. Call me, Kelly today 714-331-8492 or email me at Kelly@thecontractprocessors.com
There is a HUGE difference when working with a processor with over 30+ years experience.
