Smiling couple with child talking to assistant

What does a mortgage loan officer’s assistant do?

When you purchase a home, your first point of contact is most likely a Loan Officer, who will help you learn about your financing options, help you choose a mortgage that is right for you, and update you at key milestones in the mortgage process. Throughout your mortgage process, it is also likely that you could hear from a Loan Officer Assistant. But what exactly is a Loan Officer Assistant, and what are they responsible for when it comes to your loan?

Loan Officer Assistants have passed federal and state tests to be licensed to originate mortgage loans—the same tests and licensing, in fact, as your Loan Officer. A Loan Officer Assistant understands the mortgage loan and application process and is qualified to speak with you about your loan. It’s often a Loan Officer Assistant (also referred to as an LOA) who will be the one to answer questions that you may have along the way and be your day-to-day resource.

LOAs are there for you throughout the mortgage loan process. They make sure all the proper documentation has been gathered and ready to move to the processing step. They help prep your mortgage application to ensure the fees are accurate for your loan disclosures. They also may be the one to let the appraisal desk know when to order an appraisal (when applicable), and keep communication flowing with other parties involved in the real estate transaction.

Loan Officer Assistants play an essential role on a Loan Officer’s team. LOAs help borrowers to understand the complex loan terms that they are agreeing to. They are often the one in the most direct contact with clients, helping to build and maintain a positive relationship. They are there to make sure that the mortgage process runs smoothly and help clients achieve their dreams of homeownership. The next time you speak with a Loan Officer Assistant, give them a virtual high-five. They’re working hard to make sure your experience is top-notch.

The above information is for educational purposes only. All information, loan programs and interest rates are subject to change without notice. All loans subject to underwriter approval. Terms and conditions apply. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.

By |Published On: January 12th, 2022|Categories: Mortgage 101|

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About the Author: Guild Mortgage

Founded in 1960 when the modern U.S. mortgage industry was just forming, Guild Mortgage Company is a nationally recognized independent mortgage lender providing residential mortgage products and local in-house origination and servicing. Guild’s collaborative culture and commitment to diversity and inclusion enable it to deliver a personalized experience for each customer. With more than 4,000 employees and over 250 retail branches, Guild has relationships with credit unions, community banks, and other financial institutions and services loans in 49 states and the District of Columbia. Guild’s highly trained loan professionals are experienced in government-sponsored programs such as FHA, VA, USDA, down payment assistance programs and other specialized loan programs. Guild Mortgage Company is a wholly owned subsidiary of Guild Holdings Company, whose shares of Class A common stock trade on the New York Stock Exchange under the symbol GHLD.