Loan Processing: Verification

Description

The second step of loan processing is verification. After the loan application is completed, it's turned over to the loan processor. They obtain the necessary information from the applicant and validate that information, verifying their employment and income. Then they package the loan application and send it to the underwriter. In addition to gathering application information, the loan processor also obtains an appraisal of the property, the applicant's credit report, and most likely, a title search. In this course, we'll go over this entire verification process, so you know what to expect.