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Processing Policies and Procedures

​Mortgage Loan Processing represents the area where companies encounter the most difficulties. Having written policies and procedures for mortgage processing allows managers to identify quality control and process problems in before they become post-closing issues.

Loans spend about 85% of their lifespan in processing status. The processing function represents the most critical stage involving loan document assembly. All other functions interact with processing at one stage or another.

While this module can act as a training tool for new Loan Processor Training, in that it does provide granular detail into how a processor conducts his or her job, if you are interested in Loan Processor Training, you should request the Practical Guide to Loan Processing for more general workflow training, such as how to read credit reports, compute income and calculate deposit requirements. 

Loan Processor Policies and Procedures Module Contents

  • Position Description - Duties and Responsibilities of the Mortgage Processor
  • AIR Compliance Process
  • Procedures for Loan Setup and Mortgage Quality Control Review
  • Disclosure Preparation and Mortgage Compliance Review
  • Vendor (Appraisal/Credit/Title) Order Process
  • Stack Order Checklists
  • Customer Contact Process
  • Status Update Process
  • Pipeline Management
  • Documentation Requirements
  • Determining File Readiness
  • Pre-Submission Checklists
  • Underwriting Conditions Process
  • Closing Preparation Process
  • Pre-Closing Checklists
  • Schedule Management

Table of Contents

Processing Module Table of Contents
File Size: 17 kb
File Type: pdf
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  • Home
    • Search our site
    • The CFPB and You
    • What Does a QC Plan Do?
    • Choosing the Right One
    • Free Sample Request Form
    • Request Discount Code
    • About Us >
      • About Us
      • FAQs
      • 100% Guarantee
      • Client List
    • Industry Blog
  • Single Policies
    • Single Policies
    • Free Sample Policies >
      • TIL-RESPA Integrated Disclosure (TRID)
      • HPML Appraisal Policy
      • Social Media
      • Ability to Repay
      • SAFE Act Policy
      • E-Sign Policy
      • Loan Originator Comp
      • Complaint Resolution
    • Disaster Recovery/Business Continuity Plan
    • Anti-Money Laundering (AML/BSA/SAR) >
      • Annual AML/BSA Audit
      • Annual AML Training
    • Fair Lending/Fair Housing
    • Secondary Marketing-Loss Mitigation
    • Appraiser Independence - Appraisal Management
    • Anti-Predatory Lending (UDAAP)
    • Vendor Management
    • Business Plan
    • MERS QA Plan
  • Modules
    • Module System
    • Mortgage Compliance Manual
    • Quality Control Options >
      • Quality Control Options
      • Lender Quality Control Plan >
        • HUD-FHA Quality Control Plan
      • Broker QC Plan
    • Origination/Production Module
    • Processing Module
    • Underwriting/Credit Policy
    • Closing/Funding/Warehouse
    • Mortgage Ops & Employee
    • Information Security - FACTA/Red Flags & ID Theft
    • Wholesale/Third Party Origination
    • Mortgage Servicing Module >
      • Mortgage Servicing
      • Mortgage Sub-Servicing
      • MERS Quality Assurance (QA)
  • Packages
    • Packages
    • Mortgage Banker Package
    • Correspondent Broker Pack
    • Lender Compliance Pack
    • State Examination Packages
    • Broker-Corr Compliance Pack >
      • Broker-Corr Compliance Pack
      • State Audit/Exam Prep
      • Specific Lenders Requirements
    • Supervisory Plan
  • Services
    • Services
    • Training Services >
      • Annual AML Training
      • Fair Lending Training
      • ID Theft Training FACTA
      • Cybersecurity Training GLB Safeguarding
      • Fraud Red Flag and QC Training
      • Privacy Act - GLB Training
      • Advertising Compliance Training
      • New Employee Training
    • My Compliance VP - Manager >
      • My Compliance VP - Manager
      • Document Management Systems >
        • Document Management Systems
        • Access Document Managment
      • Warehouse Lender/Agency Approval
    • Comergence Upload Service
    • State Audit Preparation
    • Annual Audit Preparation
    • Updates and Downloads >
      • Updates and Downloads
      • Updates and Downloads (members)
    • Request Review
    • How to: Customization Services >
      • How to: Downloading Documents
      • How to: Customize Your Manual
      • Free "Generic" Customization Offer