Information About Your Team

1) Mortgage Loan Originator (MLO)
A licensed professional who helps originate loans in compliance with the SAFE Act. MLOs are paid by the lender, not the buyer, and rely on trust and good faith in their working relationship with the borrower.

2) Realtor
A state-licensed professional who facilitates real estate sales, typically paid by the seller once the transaction closes. Like MLOs, Realtors work in good faith and build trust throughout the process.

3) Processor
A mortgage processor organizes and verifies all documentation required by the lender for loan approval. They collaborate closely with MLOs, borrowers, and underwriters to ensure accuracy and completeness.

4) Attorney / Closing Attorney
A legal professional who ensures the transaction is legally and financially sound. They review contracts, titles, and loan documents, coordinate with all parties, conduct title searches, resolve issues, and oversee the transfer of funds and ownership. Their role is crucial to prevent legal complications.

5) Underwriter / Gatekeeper
The underwriter verifies your loan application and issues final approval. Working behind the scenes, they may request additional documents (e.g., proof of assets or explanations for unusual transactions). Their goal is to ensure you don’t close on a mortgage you can’t afford, focusing on key financial areas to protect both you and the lender.

Credit History: They examine your credit score, late payments, and bankruptcies.

Appraisal: An underwriter ensures the loan amount matches the home’s actual value.

Income and Employment: Proof of income and employment is verified.

Debt-to-Income Ratio (DTI): They compare your debts to your income to ensure affordability.

Down Payment and Savings: Underwriters check your bank accounts for down payment and financial stability.

*The first two professionals you speak with invest time and resources to earn your business. Before switching to a friend-of-a-friend agent or MLO, remember: the one who works hardest to earn your trust will work hardest for you throughout the process. If they’ve shown the qualities you value, let them guide you from start to finish.

Real-Estate Transaction Personnel