LOAN

Loan processors have turn times - 72 hours for new submissions, 48 hours for conditions review, 24 hours to upload documents, etc. When your interest rate is locked every day is important as rate extension is expensive (extensions may cost 0.25 - 0.50 percent of loan amount). Loan processors often work for many loan originators, handling hundreds of files, and there is a high possibility of missing deadlines, if they don't have a proper file review system. Also in many cases, borrower is charged 3rd party processing fees (other than lender underwriting fees). As I self process most loans for my clients, I am the single point of contact throughout the loan process - from application through processing and loan funding. Most importantly, after close of escrow, if you have any transaction related questions, I am still accessible... Mortgage customers shop around to find the Lender that quotes the lowest interest rate. But if the interest rate is not locked, that rate quote is of no..

Primary location: San Diego United States