What is involved in Processing?

Processing is the second phase in The Loan Process. It involves ordering additional documents (also called “Set-Up”) and preparation (“Processing”) of the loan file for Underwriting.

This phase is handled by your Loan Officer’s Processor or team of Processors. They will be reaching out to your employer to verify employment, order your appraisal, retrieve tax transcripts from the IRS, and verify your identity. The processors also make sure that everything the underwriter will need to see is in the loan file and ready for submission.

Network Funding places a huge emphasis on Processing because quality Processing directly impacts turn-times in Underwriting. Oftentimes you may be asked for additional documentation before your loan is submitted to Underwriting.

Depending on your Loan Officer’s arrangement with the Processor, you may hear from either or both of them throughout this stage of The Loan Process.

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