Mortgage Loan Origination
This workflow template illustrates the collection and initial processing of mortgage loan applications, including activities such as initial borrower risk assessment (pre-approval), information collection (pay stubs, credit reports, etc.) and loan term (rates, loan type, etc.) development. Purchase and download this template in PDF and Visio (VSD) formats. You can customize it to fit your own organization, or simply use it to better understand the Mortgage Loan Origination process.
Related KPIs : Cycle Time: Mortgage Loan Closing, Cycle Time: Mortgage Loan Decision, Mortgage Loan Applications per Processor, Mortgage Loan Pull-Through Rate, Percentage of Mortgage Applications Closed for Incompleteness, Percentage of Mortgage Loans Abandoned by Borrower, Mortgage Loans Closed per Originator, Unit Cost: Mortgage Loan Origination
What is Mortgage Loan Origination?
The Mortgage Loan Origination process involves coordination between customers (borrowers), mortgage loan officers and mortgage loan application processing and support staff to collect and assess mortgage loan applications. The mortgage loan officer communicates with the potential borrower to collect information and determine if their financial health is up to par with the bank's lending standards. If the borrower's credit is in line, the loan officer and loan support staff members work to educate the borrower on their options, collect all required documentation, and package everything together (pay stubs, account statements, credit reports, etc.) to pass off to the underwriting team for final review.
Download a Sample Mortgage Loan Origination
Frequently Asked Questions
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