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Who Locks Loans; Processor or Originator?

Who Locks Loans; Processor or Originator?

We love to do as much as we can for the Loan Officer. But when it comes to locking a loan, we assist in the locking of the loan but the responsibility falls on the LO. Nothing can blow a deal more than having the pricing change or the loan locked incorrectly. Lender’s...

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FAQ: What Are Loan Processor Duties?

FAQ: What Are Loan Processor Duties?

I see a lot of questions about this in processor and originators groups alike. There is no official list of tasks that are in one column or another. It is up to the processor as to what services they would like to offer to originators. It is up to the originators if...

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