What does a loan Officer usually have to focus on regarding Borrowers documentation?

JESS asked:


What are the principles in refinancing, Cashing out and taking money aways from the homes equity?, How much does a loan officer make a year if they work for theirselves and with a bank?

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Tags: Loan Officer, Refinancing, Theirselves

This entry was posted on Wednesday, February 25th, 2009 at 8:56 am and is filed under Refinancing Home Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “What does a loan Officer usually have to focus on regarding Borrowers documentation?”

1. Alan W Says:
   February 27th, 2009 at 6:08 pm

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   I’m a Mortgage Banker.

   Documentation is determined by the Program of the loan. Loan Type, Ratios, and who is underwriting.

   I request 2 years taxes, most recent month worth pay stubs, 3 months bank statements, home owners insurance policy, preferred Title company, and a check for the appraisal.

   Most LO’s are paid on Commission.

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