Mortgage Loan Processor Interview Questions and Answers
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Are you familiar with the Fannie Mae and Freddie Mac Selling Guides?
User Submitted Interview Answers
Yes I know Fannie Mae and Freddie Mac guidelines. I have held many positions in the mortgage industry that include MLO, underwriter as well as processor, which required me to stay abreast of all guidelines.
I feel to very clearly in public side and what all are the advantages of both processing in real life to explain in public.
I am somewhat familiar with it, but I love to learn more and I am a faster learner.
Yes I am but I review the automated Underwriting decision as a cross referece.
I feel like I have a lot to learn but I am currently in the process. Fannie Mae: owned by stockholders, typical loan Freddie mac: competitor of Fannie mae, also offers FHA and Conventional loans.
Fannie Mae mostly buys mortgage loans from commercial banks, while Freddie Mac mostly buys them from smaller banks that are often called "thrift" banks.
I am not but I catch on quickly.
Understand the lender guidelines and know they are priority in processing.
I am not but on any job there is training and references to consult also supervisors to assist me to learn the process correctly.
I am absolutely familiar and spent many years training new loan officers on products and guidelines. I have done recent brushing up via the Internet and would like to gain more from your current employees.
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