Mortgage processor vs mortgage broker

Differences between mortgage processor and mortgage broker duties and responsibilities

Mortgage processor example responsibilities.

• Manage applicant s mortgage applications from origination to closing, ensuring service excellence and adhering to federal and compliance guidelines
• Function in processing role for streamline first market mortgage transactions pursuant to Fannie, Freddie, VA and FHA policy guidelines.
• Support FNMA portfolio loans in default and imminent default loans with a focus on loan modifications.
• Work directly with FNMA counselors to negotiate mortgage terms for the homeowner that will prevent foreclosure.
• Comply with bank, investor and regulatory guidelines while having a strong understanding of RESPA, HDMA, and ECOA guidelines.
• Generate accurate RESPA require disclosures.
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Mortgage broker example responsibilities.

• Educate clients on mortgage contractual guidelines and process FHA, VA, and conventional loans reviewing files for submission to underwriting.
• Foster deeper client relationships with commercial and residential lenders driving referrals by delivering excellent customer service.
• Originate residential conventional, VA, home equity, commercial and construction loans.
• Establish a network of contacts with community banks, appraisers, lenders, and other brokers.
• Originate, process, and submit all types of commercial and SBA loans to the applicable lender.
• Develop business plan, raise investment capital, create business processes, and obtain licensing, VA certification, HUD approval.
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