Processor vs. Loan Officer: Who Does What
The most common source of closing delays is unclear ownership of tasks. When the LO and processor both think the other is ordering the appraisal, nobody orders it. This guide defines who owns what in a standard mortgage transaction.
Frequently Asked Questions
Who is responsible for ordering the appraisal?
Typically the processor, once the appraisal fee is collected by the LO and the contract is in hand. CTC orders the appraisal within 24 hours of file receipt unless the LO has already ordered it — CTC confirms on intake.
Who communicates with the borrower during processing?
CTC provides condition update communications to the LO, who is the primary borrower contact. CTC will communicate directly with borrowers for document collection only, with LO copied on all communication.
Who is responsible for resolving underwriting conditions?
CTC tracks all conditions and sends condition request letters to borrowers. The LO is responsible for escalation if a borrower is unresponsive. Complex conditions (LOEs, gift letter issues) are coordinated jointly.
Put this into practice.
CTC handles the file so you can stay in front of borrowers and Realtors.