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A loan processor has a critical role in the home loan process. Consequently Air Huarache Sale , 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 Air Huarache Utility , 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 Air Huarache Pink , 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 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 sheetdoc 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 release Air Huarache Grey , subordination agreement, or credit update.


8. Forgetting to monitor rate lock expiration dates. Even if it is the LO's responsibility, make sure you're covered. It's your life that will become chaotic when that rate expires and the pressure is pouring in to get the deal closed.


9. Waiting until the anticipated day of funding to check to see if pre-funding conditions have all been satisfied. The realtor, borrower Air Huarache Red , and loan officer are guaranteed to hit the roof when the receipt of the wire is delayed because of outstanding conditions. Get a copy of the closing instructions and the settlement statement before the signingclosing. Then follow-up with the title company escrow officer to make sure that all is well.


10. Not familiarizing yourself with the lender's procedures for approving and funding a loan. An incredible amount of time could be wasted because follow-up calls went to a person or department other than the one designated to address the issue at hand. Don't call the account executive about something that you can speak directly to the underwriter or funder about.


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The best remortgage deal is the way to pay off your current loan and switching onto a new deal. This is done either with your current lender or with a new provider, without the requirement of moving home. This is done by homeowners for a number of reasons. Most of the homeowners do it with a view to save money. Introductory remortgage deals on lendings typically last between 2-5 years and at the end of this period, the borrowers are put onto to the Standard Variable Rate of a lender and this is something that tends to be more expensive. In short, remortgaging onto a cheaper deal permits you to save Air Huarache Triple White , particularly if you have a larger debt on your monthly repayments.


When this is the case of some borrowers, some opt for remortgage deals with a view to raise money. If you are planning to borrow more funds by enlarging the size of your debt, this can be a viable option for you. Even, when you wish to release some of the equity built up in your home to pay for activities like home improvements or for consolidation of other more costlier debts Air Huarache Triple Black , this can be a viable option, even though this is risky.


Some borrowers opt for remortgages, just because their present mortgages just does not fit anymore. You may be interested in switching from a deal that is based on interest alone or you can also opt for repayment mortgage. Regardless of whether thinking of trading in a variable rate deal for the security of fixed rate or whether you are looking for greater flexibility with a view to bring down the term of your loan or to make overpayments.