Mortgage Loan Officer
A loan officer is an individual who works for a bank or other financial institution. Most often, they are referred to as mortgage loan officers as mortgages are the most common product they deal with. However, loan officers can help applicants with a variety of secured and unsecured loans.
Loan officers help ease the loan process for borrowers and, often, increase the chances of approval. When applicants go straight through an online system to apply for a loan, they are subject to specific algorithms used to determine creditworthiness. These algorithms determine whether the application is approved for a loan.
Jump to…
Mortgage Loans and Loan Maturity Date
The maturity date on a mortgage refers to the end of your...
See More
Net Principal Limit
The net principal limit is the total amount that a borrower receives...
See More
Recent Articles
Who Can Get a Reverse Mortgage?
In 2021, 49,207 borrowers entered into reverse mortgages, an increase from the previous year. Reverse mortgages are becoming more popular...
What Is Home Equity?
The average price of a house in the US is $428,700 in 2022. Owning a home offers a range of benefits, and one of those is establishing...
How to Get a Reverse Mortgage
Are you nearing retirement and curious about what a reverse mortgage is? Ready to tap into your home equity? A reverse mortgage could be a...