- A mortgage opener works with clients wanting a loan.papers to be signed image by Pix by Marti from Fotolia.com
A mortgage opener, also referred to as a mortgage originator, is responsible for dealing with clients seeking a loan. A mortgage opener works with a client from the initial visit and gathers all the information needed from the client. No degree or college experience is typically required to be a mortgage opener.
- People hoping to buy a home or refinance a mortgage must go through a sometimes-complicated process of applying for a loan. A mortgage opener is typically the person people talk to about getting a loan. When a person applies for a loan, a mortgage opener asks a lot of questions to find out what type of loan is best for the client. The client agrees to allow the opener to obtain a credit report and the opener has the client fill out a loan application.
- The mortgage opener requests additional information from the client, such as pay stubs and tax returns, after the application is complete. The information gathered is analyzed by the mortgage opener, who then begins looking for a loan suitable for the client. The opener narrows the loan choices down to the best two or three and shares the information with the client. The client then chooses which option works best. After the loan is chosen, the mortgage opener continues to process the loan by gathering any additional information needed.
- Part of the mortgage opener's job duties is calling for work orders. She must call and schedule an appraisal of the property to determine the amount needed by the client for a down payment. The opener also orders employment verifications and verification of current rental or mortgage payments.
- When the loan approval process is complete, the opener schedules a closing date for the loan. On this date, the client meets with a closing agent who supervises the signing of all the closing documents. The mortgage opener receives her fee for her work on the closing date.