Understanding Home Loan Company Employee Positions

When one seeks to purchase a residential property, one frequently needs to obtain a home mortgage loan. When going through the home loan application process, it can seem overwhelming at times. It can help to understand the home loan company structure, including the home loan company employee positions.

Loan Officer Home Loan Company Employee Positions

When an individual applies for a home loan, there is always a loan officer involved in the process. The loan officer is very heavily involved and the positioncan include a wide variety of functions. Initially, the loan officer will obtain the clients basic information, describes the options available for the client and determines whether the client has the resources to pay a loan. Thereafter, the loan officer will determine the client's credit history and credit score in order to obtain the client's home loan eligibility.

Loan Underwriter Home Loan Company Employee Positions

Loan underwriters are also involved in home loan companies. Loan underwriters typically handle specific issues pertaining to a home loan applicant's creditworthiness. In connection with this specialization, loan underwriters frequently perform financial risk assessments and analyis in order to determine whether an applicant will have the ability to pay a home loan.

Loan Collection Home Loan Company Employee Positions

Anotherhome loan company position is a loan collection officer. The loan collectionemployee's job responsibilities include contacting home loan borrowers whohavefailed to make timely payments. If arepayment plancannot benegotiated, theloan collectionemployee, on behalf of thecompany,will likely engage in collateral liquidation. Thisprocess involves the seizure of an asset as collateral.

Getting Legal Help

If one seeks to purchase a home, it may be helpful to obtain the services of a real estate attorney to help with the mortgage aspect of the purchase as well as the purchase itself. An attorney can help answer any questions one may have as well as help protect one's interests.