In part one of this two-part blog series, we went over some of the primary roles and responsibilities carried out by loan officers during the mortgage process. Often referred to as mortgage loan officers because this is by far the most common type of loan they cover, these individuals play a vital role in several areas of the loan process.
At Altius Mortgage and our partners at Mortgage Ogden, we’re proud to maintain a large team of loan officers to assist you with all your potential mortgage needs, from determining the interest rates you qualify for to helping you refinance a mortgage if needed. In today’s part two, we’ll go over a few additional areas loan officers are tasked with handling through the process, both in terms of client-facing areas and a few you may not be directly exposed to, but are still very important.
As you move along in your mortgage process, from the application to home searches to potential closing and purchasing situations, the loan officer will be there to help keep things timely and in order. For instance, they’ll coordinate with others on the loan side of things, helping you understand your mortgage rates and the factors involved in them.
For another, they’ll handle dealings with a few other entities who might be involved in this process, particularly in later stages if you’ve found a home and are moving forward with the purchase. They’ll work with title companies, for instance, to ensure the home’s title is clear. They’ll also speak to loan processors, private mortgage insurance companies and other vendors who might be involved in loan closing.
One of the more enjoyable areas loan officers also get to take part in: Attending many home closings. This is the occasion when final documents are signed and the home purchase is finalized, often a celebratory event for many homebuyers. Your loan officer will often be present, both to join in the celebration and to ensure all the details are processed properly.
Trends and Future Education
Finally, loan officers are constantly tasked with maintaining their knowledge of mortgage trends and continuing their mortgage education The mortgage world is one that’s constantly changing based on market trends and other factors, and those involved in assisting clients in this world must stay current on these. They often take classes or attend workshops to hone certain particular skill areas, plus will regularly review new mortgage materials and programs as they come up.
For more on the role and responsibility played by loan officers during a mortgage application and process, or for information on any of our mortgage loan products, speak to the staff at Altius Mortgage today.