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    aisal order submitted should take priority over requesting a payoff on a file that is projected to close in 3 weeks. Do the critical things first.

    4. Forgetting to do an initial review of the file to access its strength and weakness. An LO should not

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    A loan processor has a critical role in the home loan process. Consequently, it is often the processor who makes or breaks the deal. This burden of trying to be all things to all people, can sometimes result in mistakes. A dynamic processor should have a set of guiding principles to help keep the proper focus. Here are ten big mistakes that you will want to avoid:

    1. Being dishonest about the status of a loan. A seasoned LO knows all of the ways to confirm activity on a file. A review of DU findings, a look at the lender’s e-pipeline, a call to the lender, borrower, title company, or appraiser will inevitably reveal the truth.

    2. Forgetting to analyze critical file documents when they are received. Issues with the income, title, assets, or appraisal can make or break a deal. These documents should be reviewed upon receipt. Calling the LO or borrower about a problem with a document received 2 weeks ago will not be well received.

    3. Forgetting to prioritize files and projects. Getting the appraisal order submitted should take priority over requesting a payoff on a file that is projected to close in 3 weeks. Do the critical things first.

    4. Forgetting to do an initial review of the file to access its strength and weakness. An LO should not

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    et of guiding principles to help keep the proper focus. Here are ten big mistakes that you will want to avoid:

    1. Being dishonest about the status of a loan. A seasoned LO knows all of the ways to confirm activity on a file. A review of DU findings, a look at the lender’s e-pipeline, a call to the lender, borrower, title company, or appraiser will inevitably reveal the truth.

    2. Forgetting to analyze critical file documents when they are received. Issues with the income, title, assets, or appraisal can make or break a deal. These documents should be reviewed upon receipt. Calling the LO or borrower about a problem with a document received 2 weeks ago will not be well received.

    3. Forgetting to prioritize files and projects. Getting the appraisal order submitted should take priority over requesting a payoff on a file that is projected to close in 3 weeks. Do the critical things first.

    4. Forgetting to do an initial review of the file to access its strength and weakness. An LO should not

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    a look at the lender’s e-pipeline, a call to the lender, borrower, title company, or appraiser will inevitably reveal the truth.

    2. Forgetting to analyze critical file documents when they are received. Issues with the income, title, assets, or appraisal can make or break a deal. These documents should be reviewed upon receipt. Calling the LO or borrower about a problem with a document received 2 weeks ago will not be well received.

    3. Forgetting to prioritize files and projects. Getting the appraisal order submitted should take priority over requesting a payoff on a file that is projected to close in 3 weeks. Do the critical things first.

    4. Forgetting to do an initial review of the file to access its strength and weakness. An LO should not

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    sal can make or break a deal. These documents should be reviewed upon receipt. Calling the LO or borrower about a problem with a document received 2 weeks ago will not be well received.

    3. Forgetting to prioritize files and projects. Getting the appraisal order submitted should take priority over requesting a payoff on a file that is projected to close in 3 weeks. Do the critical things first.

    4. Forgetting to do an initial review of the file to access its strength and weakness. An LO should not

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    aisal order submitted should take priority over requesting a payoff on a file that is projected to close in 3 weeks. Do the critical things first.

    4. Forgetting to do an initial review of the file to access its strength and weakness. An LO should not be notified three weeks into the deal that the borrower’s profile does not fit the lender’s parameters for the selected program. Look for possible issues right away and request what you need to clarify or resolve them.

    5. Submitting a fee sheet/doc request sheet to the lender without the approval of the originating loan officer or other designee. This can lead to a multitude of problems if this sheet is wrong. Too many fees will cause a problem with the borrower. Too few fees will cause a problem with the LO.

    6. Waiting too long to follow-up on information requests. If a preliminary title report order has a four-day turn-around time, don’t wait 2 weeks to follow-up only to find that your faxed request was never received. Follow a standard schedule for following up on document requests.

    7. Improperly anticipating turn around time for the completion of file documentation. Give yourself a cushion. Don’t get burned because you thought that it would only take a day or two to get that payoff, lien

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