Question 1

What exactly does a mortgage processor do?

Accepted Answer

A mortgage processor takes the loan application and documentation collected by the loan officer and prepares the entire file for the underwriter. We verify employment, organize income documents, order third-party services (like title and appraisal), and communicate with borrowers to collect any missing items.

Question 2

Do you originate loans or make lending decisions?

Accepted Answer

No. The Lending Friend is strictly a third-party processing support company. We do not originate loans, lock rates, or make credit decisions.

Question 3

How does third-party processing differ from in-house processing?

Accepted Answer

Third-party processing allows you to convert a fixed cost (a full-time employee salary and benefits) into a variable cost. You only pay for processing when you have active files, making it highly scalable for independent originators and growing teams.

Question 4

How do I submit a file to you?

Accepted Answer

Once you are set up as a partner, you can submit files directly through our secure partner portal. We will provide a specific checklist of what is needed for initial submission based on the loan type.

Question 5

Will you communicate directly with my borrowers?

Accepted Answer

Yes, we handle the time-consuming back-and-forth of document collection. We introduce ourselves as your dedicated processing team and maintain a professional, helpful tone that reflects well on your business.

Question 6

What is your turnaround time on conditions?

Accepted Answer

We strive to review and submit conditions to the underwriter within 24-48 hours of receiving them from the borrower or third party, ensuring your file keeps moving toward the closing table.

Question 7

What loan origination systems (LOS) do you work with?

Accepted Answer

We are experienced in major industry systems including Encompass, Calyx Point, Arive, and LendingPad. If you use a different system, we can discuss integration during our onboarding process.

Question 8

How do you handle data security?

Accepted Answer

We take data security very seriously. We use secure, encrypted portals for all document transfers and adhere to industry best practices for protecting consumer NPI (Non-Public Personal Information).

Frequently Asked Questions

Mortgage Processing

Working With The Lending Friend

Loan Files & Documentation

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