Mortgage Loan Setup
This workflow template illustrates the involvement of three functional groups (loan officer, team support and underwriting) in the setup of a mortgage loan. Purchase and download this template in PDF, Visio (VSD), PowerPoint (PPT) formats. You can customize it to fit your own organization, or simply use it to better understand the Mortgage Loan Setup process.
Related KPIs : Cycle Time: Mortgage Loan Decision, Mortgage Loan Pull-Through Rate, Unit Cost: Mortgage Loan Origination
What is Mortgage Loan Setup?
The Mortgage Loan Setup process involves three functional groups (loan officer, team support and underwriting) in the setup of a mortgage loan. Mortgage Loan Officers gather all necessary information, documents and payments from the potential borrower before sending all required documents to the team support. Team support then processes the new application and forwards it to underwriting, which evaluates the application. If denied, the client is notified by the loan officer and the denial is logged. A second review may take place. If the application survives, the loan officer notifies the client of approval.
Download a Sample Mortgage Loan Setup
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