The government’s supervision of lenders has changed the way that home loans are made. Once you select your lender, you will be interacting with multiple people throughout the loan process. Understanding who the “players” are—and what each one does—is important.

The Loan Originator / Loan Officer

Sometimes called a “loan originator” or “loan officer” (LO), this person acts as your team manager. Your LO is typically your first point of contact with the lender. They evaluate your income, assets, and credit to determine whether you qualify for the financing you need.

Beyond just qualifying you, your LO is also your advocate and educator—guiding you through options, rates, and timelines. They will manage the progress of your application and ensure that the closing date agreed upon by you and the seller stays on track.

The Processor

The processor manages your loan file from application to closing. They collect and organize documentation that supports the information in your loan application—things like bank statements, pay stubs, tax returns, and more.

Their job is to prepare a clean, complete file for the underwriter, making sure everything is accurate and clearly demonstrates your ability to repay the loan.

The Appraiser

The appraiser evaluates the home to determine its market value and ensure it meets the lending standards of institutions like Fannie Mae (FNMA) or Freddie Mac (FHLMC).

They inspect the property, note its features and condition, and compare it with similar homes recently sold nearby. Their report helps the lender determine whether the amount you’re borrowing is appropriate and safeguards the lender against over-lending on an overvalued home.

The Underwriter

The underwriter is the final decision-maker in the mortgage process. Their job is to make sure your loan meets all the guidelines set forth by government agencies and investors (like FNMA or FHLMC).

They analyze your credit, income, assets, and the appraisal. If the application doesn’t meet standards, the underwriter may deny it—or require changes, such as a higher down payment. However, underwriters often work to find ways to get loans approved, not denied.

The Closer

There are two closers involved in the process: one from the title company and one from the lender. Together, they coordinate all the final numbers and paperwork for closing day.

At the closing table, the title company’s closer will present a complete package of documents—like the final loan application, closing disclosure, deed of trust, tax forms, and more. Once you sign, they ensure the documents are officially recorded with the county.

The Most Valuable Player (MVP): You

The most important person in the loan process is you. Your responsiveness is critical. Your loan officer and processor will only request documents that they know the underwriter will need. By responding quickly and accurately, you help keep your loan moving forward and minimize delays and stress.

📞 Want Help Navigating the Mortgage Process?

At The Mortgage Network, our Mortgage Loan Professionals are here to walk you through every step—from pre-approval to closing day. We make sure you’re never left guessing.

Want to get connected with an experienced Loan Officer? Call us anytime—evenings and weekends—at (303) 394-2121.