Secrets Your Mortgage Broker Will Not Tell You

Like it? Share it!

Facebook

Pinterest

Reddit

Twitter

Google+

The Loan Officer

Source: https://www.loanofficerlicense.net

The mortgage loan officer (MLO) works for the bank, lender, or the financial institution funding the loan. This person does all the paperwork which includes preparing the applicant’s file to be sent to the underwriter. They are the ones who will help you the most, it’s their job to make sure things are done properly. Once the broker puts you together with the lender, their job is done. They will not be assisting you anymore. The MLO is your new point of contact who will help you with the processes. It is essential that you have a good relationship with them. Eventually, you will reach the next in line, the underwriter.