What are the principles in refinancing, Cashing out and taking money aways from the homes equity?, How much does a loan officer make a year if they work for theirselves and with a bank?
What does a loan Officer usually have to focus on regarding Borrowers documentation?
I'm a Mortgage Banker.
Documentation is determined by the Program of the loan. Loan Type, Ratios, and who is underwriting.
I request 2 years taxes, most recent month worth pay stubs, 3 months bank statements, home owners insurance policy, preferred Title company, and a check for the appraisal.
Most LO's are paid on Commission.
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