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Mortgage Broker (aka Loan Officer)
Licensed professional who gathers and processes paperwork associated with mortgaging real estate. A loan officer acts as the conduit between buyer and lender.
Tasks of Loan officer:
marketing to attract clients,
taking an application (form 1003),
gathering all needed documents (paystubs, bank statements, etc.),
walking the clients through legal disclosures,
Pulling and studying the clients tri-merge credit report,
Shopping for a loan product that fits the clients needs,
Processing the loan (This may be performed by a Processor),
Submitting all material to the lender and to an escrow company
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