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This question is about mortgage loan processor resumes.
Is a mortgage processor the same as a loan processor?
Yes, a mortgage processor is the same as a loan processor. A mortgage is a type of loan, and a mortgage processor specializes in processing mortgage loans.
A mortgage is a loan you get from a lender to finance a home purchase. It's essentially just an agreement between you and a lender that allows you to borrow money to purchase or refinance a home and gives the lender the right to take your property if you fail to repay the money you've borrowed. The home is used as collateral.
A mortgage processor is responsible for assembling, administering, and processing your loan application paperwork before it gets approved by the loan underwriter. They play a key role in getting your mortgage loan request to the final close.
On the other hand, a loan processor is responsible for evaluating, authorizing approval, or denying applications for people or businesses. Loan processors liaison between customers and financial institutions who assist qualified applicants in acquiring loans promptly.
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