Appreciating the Role of Mortgage Loan Processors

September 16, 2016 / Kevin Busick, Vice President — Underwriting and Forensic Underwriting

Appreciating the Role of Mortgage Loan Processors

At United Guaranty, we know—and your borrowers quickly learn—that you’re essential to the loan application and closing processes. We understand how hard you work to gather and validate buyer information, including assets, income, and debt. And we appreciate your vital role as part of the team that makes home ownership possible for your borrowers.

As part of United Guaranty’s celebration of the inaugural National Mortgage Professional Month in September 2015, we asked mortgage pros to share thoughts on the challenges and rewards of their jobs, and we received lots of insightful input.

A processor in Cincinnati, Ohio, helped a borrower close on a home after waiting for months for the sellers to replace the septic system. Enough time had passed that the original loan officer was no longer in that position. “As the processor, I was able to call the borrower to inform her that the file was clear to close. And they closed that week!”

Finer details

Because you’re responsible for ensuring correct debt-to-income ratio, employment information, and all other loan details, much of the customer experience depends on you and the work you do every day. At the same time, the underwriters you support count on you to build polished loan files that are easy to understand. When underwriters have accurate loan files, they can quickly determine whether applicants are eligible for home loans.

Skilled Processors

Your job involves a great deal of customer communication, often about topics—especially personal finances—that borrowers may be unsure about or uncomfortable discussing. Balancing the need for information with courteous customer service while you educate borrowers about the information you need for their loan can be a daily challenge.

“Every borrower I work with I treat like a friend,” says one loan processor in Springfield, Missouri. “I take the time to meet each one” and sometimes even their kids and pets. She knows the stress that can come with buying a home and assures her borrowers that she “will do everything in my power to make sure they are in their house by the contract closing date.”

"There’s nothing like the satisfaction of helping someone into their new home."
- a processor in Waterloo, Iowa

Customer care

As a skilled loan processor, you approach each day with a willingness to assist applicants, and that only fosters their trust. Any of these sound familiar?

  • You explain why certain information is needed to complete the mortgage process.
  • You’ll even go as far as helping applicants find the necessary information.
  • You have frequent in-person meetings or spend hours talking over the phone with borrowers.
  • You provide guidance and answer customer questions with much detail and care to clear up confusion.

“With every customer comes hours and hours of time spent on the phone or in your office working through the steps of each mortgage,” says a loan processor in Oklahoma City, Oklahoma. “Going through every detail thoroughly helps avoid surprises and offers assurance to the borrower that everything is going smoothly.”

It’s precisely this sort of effort that makes you a team player. You have a talent for working with people that your colleagues recognize and respect.

A processor in Harker Heights, Texas, cites how he once worked with a customer to resolve documentation issues: “I was able to help the loan officer advise the borrowers on exactly what we needed to clear the file and then submit the document in a rush request with our underwriter and get documents out to the title company by noon of closing day…It was a total group effort, but we got the mission done.”

Expressing our appreciation

It’s these exceptional skills and “can do” attitude that help you meet the needs of borrowers and make United Guaranty appreciate all you do. We understand that loan processors are some of the most skillful professionals in the industry, possessing both analytical and people skills that matter to customers and colleagues alike. On behalf of everyone at United Guaranty, we want to thank you for all your dedication, knowledge, and support.

Kevin Busick

Kevin Busick As Vice President, Kevin Busick oversees Underwriting Operations for new business as well as Claims Underwriting. His goals for the team are to make the right decision on every loan and work to maximize efficiency and productivity without sacrificing quality, which are the guiding principles of United Guaranty’s risk management philosophy.

Busick joined United Guaranty in 2007. He was named Vice President-Claims Analytics in 2010 and Vice President-Underwriting and Forensic Underwriting in 2012.

Since joining United Guaranty, Busick has managed several other groups, including Claims Calculation, Claims Investigation, Special Investigations, and Appeals.

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