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Where at in the processing do you usually run into delays, and what steps do you take to avoid them?

Answer examples and advice for how to answer this interview question for a Mortgage Loan Processor interview

Tell the hiring manager about delay's that you come across in your current role and if there is a pattern or a common delay that seems to arise. How do you avoid these delays or resolve them?

Basic answer example
"One delay in processing that I often come across is employment verification. Often times, employers are not readily available to give references and that can bog things down a bit. I try to avoid these by asking my client to open the conversation with their employer right away about the importance of timeliness."

View user-submitted Answers

Where at in the processing do you usually run into delays, and what steps do you take to avoid them?
Get the documentation completed call in the appraisal follow up with the respective customer and make sure there is no missing documentation.
Waiting for underwriting to sign off on appraisal while the clock is ticking on other time sensitive documents. To avoid these delays, I remain mindful of expiration dates and re-order documents ahead of time in order to remain current.
Cases where I cannot obtain searches so I cant prepare documents.
Processing getting document from customer, continues follow up.
Delays are usually encountered at closing. To avoid delays at closing always send the good faith estimate to the loan officer the day before closing to go over with the customers to make sure they are in agreement with the final numbers.
When we find unexpected debt or unseasoned waiting periods on a previously defaulted mortgage, unexpected debt from a spouse not previously disclosed, make sure we review all documents and verify with what the 1003 says, borrower not always disclose all pertinent information.
When the document are missing we ask for for lender but to avoid we check all the credit package or search full documents.
In the process the main delay occurs after the initial underwrite when the underwriter request for additional documentation that was not provided. To avoid or reduce this issue I will review the loan and research the loan in the synopsis, once understanding the unique requirements for the loan I will request the documentation from the sales department to apply to the loan in preparation for underwriting.
Obtaining all needed documents on time. Continue working with borrowers to obtain them. Set deadlines m.
If there are liens on titles, something is wrong with the appraisal. To avoid this I work in a very timely fashion and address any issues as soon as possible before going to underwriting.
Waiting on paperwork/reports, income statements, etc. Consistently be organized and follow up with borrowers.
Employment issues or flood issues on the property.
Verification of documents.
Getting documents from third party vendors and customers, constant reminders.
Delays occur when borrowers do not return correspondence and the best way to deal with this is to have a schedule of contact as well as advising all options as far as sending and receiving go.
Having incomplete paper work or waiting on responses from clients. Make sure when it a package is received, everything is there before starting processing.
Client documents, avoid delayment by being on top of it have that relationship w/ client helps too.
Maybe in collecting documents, I will prefer to inform all doc one time to the customer,
In receiving documentation from clients. Following up with the client as necessary can provide the push needed so there won't be any delays than necessary. Other delays may be in the pipeline itself and following through with all departments to ensure they have received the information and how long it will take to process on their end can speed the process along.
Slowness of internet and imaging of documents.
Bankruptcy issues, obtain the paperwork for review, title lack of CO for changes to the property. Address with the title company and the borrowers attorney to clear and obtain.
Waiting on customers or 3rd party vendors to provide information as needed to complete the process. Waiting on associates to provide their assigned tasks that may affect yours. Planning according to timelines, use a calendar/timeline process, try to combine types of tasks for several loans to save time. Follow up on files daily to ensure there is nothing forgotten. Communicate timelines clearly to customers and associates and consistently follow up to set a precedent.
A lot of times as a processor the most common example for delays comes down to communication. A lot of customers, team members, etc. Will be untimely with their responses and when dealing with rate locks that can create issues. What I do to get around this is reaching out to the customer at different times of the day, over email and over the phone.
When the title has divorced persons name and there is no divorce decree.
Gathering documentation and Verify information on the application 1003) is correct...
Borrower submitting documents. I usually let them know as soon as the application is needed what is needed and to return these documents as soon as possible.
Getting unexpected conditions to clear. To avoid this I review the file, order verifications, appraisal and title work as soon as possible. Think like an underwriter, be prepared and request some additional documents from the customer that the underwriter might request.
Never avoid them, work to get deadlines met.
Re-documentation and expiration of document.
When I requested to third party for certain issue not get any proper solution. So I have skip that step and request to client directly.

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