Avionce Institute of Mortgage Training

Mortgage Loan Originator

A Mortgage Loan Originator plays a pivotal role in the lending process. Their responsibilities encompass the entire spectrum of facilitating loans, starting with the intake of loan applications. Key duties include assessing the borrower’s qualifications, meticulously evaluating aspects such as income, credit history, and available assets. This thorough examination ensures a comprehensive understanding of the borrower’s financial profile. The Loan Originator further relies on the automated underwriting system to validate data and receive recommendations regarding the approval or pre- qualification of the loan. Drawing upon this wealth of information, the Mortgage Loan Originator is equipped to guide borrowers through the intricacies of the lending landscape, ensuring that the recommended loan aligns with the borrower’s specific needs and financial situation. In essence, the Mortgage Loan Originator serves as a knowledgeable guide, navigating clients through the loan origination process with expertise and precision. All Mortgage Loan Orginator must be license 20 hours of education required NMLS #1405085

Loan Processors

A Mortgage Processor, alternatively known as a Loan Processor, assumes a crucial role in the mortgage application process. Acting as a vital intermediary, their primary responsibility is to meticulously prepare all documentation associated with the mortgage application for submission to the mortgage underwriter. Sitting between the Loan Officer and the Underwriter, the Mortgage Processor functions as a bridge in the lending process. While the Loan Officer collaborates directly with the prospective borrower to select an appropriate loan product, the Mortgage Processor steps in to compile and organize the necessary paperwork. This carefully curated package is then presented to the Underwriter, whose role involves making the final decision on the borrower’s eligibility for the mortgage. In essence, the Mortgage Processor plays a pivotal role in facilitating effective communication between the borrower, the loan officer, and the underwriter, ensuring that the mortgage application process proceeds smoothly and efficiently.

Loan Origination Processing System

A Loan Origination Processing System serves as a comprehensive platform designed to streamline and automate various stages of the loan servicing cycle. This includes essential processes such as loan application management, document verification, and credit approval, all integrated with automated underwriting capabilities. Mortgage Software Systems play a pivotal role in chaning and enhancing careers within the mortrage industry. The term “Loan Operating System” (LOS) encompasses loan origination software and electronic document management, often in conjunction with affiliated vendors. Additionally, LOS incorporates functionalities related to underwriting and secondary marketing, leveraging Automated Underwriting Systems (AUS). Understanding and effectively utilizing these systems are imperative for professionals in roles such as Loan Officer, Loan Processor, Underwriter, and others within the mortgage industry. Mastery of the basics of how the mortgage industry employs these systems is crucial for navigating a loan application seamlessly, from the initial interview through to the closing process. For individuals pursuing careers in the mortgage sector, practical experience with the latest Loan Operating Systems is vital. Hands-on training, involving the use of these systems loaded on your computer, ensures that you are well-equipped with the technical proficiency required for success in your role.