Roles & Responsibilities
Our goal is to keep you informed during every step of the mortgage process. Familiarize yourself with the team of mortgage professionals working on your home loan.
During the application stage, or when you are completing your loan application, you are named the applicant.
Once your application has been received, and the mortgage process begins, you are named the borrower.
Ameris Bank is the lender. A lender is the organization lending you the money for the purchase of your home.
THE MORTGAGE BANKER
Your Mortgage Banker, also known as a loan originator, will initiate the completion of your loan application, and will help you gather all the information and documentation you will need for the loan to be process.
THE LOAN PROCESSOR
The Loan Processor works closely with your Mortgage Banker, ensuring all information and documents are gathered into one file representing you and the property being financed. The Loan Processor uses the information within this file to obtain more information that will be added to the file, and will order credit reports, a property appraisal, and other documentation dictated by the application or the Underwriter. Once the file is complete and reviewed for accuracy, it is passed to the Underwriter.
The Underwriter reviews the mortgage file to make sure it meets investor guidelines and that it is of good investment quality. The Underwriter evaluates four main parts of the file:
- Your credit or willingness to repay the loan based on your credit score.
- Your capacity, which is your ability to repay the loan based on your income stability.
- Your capital, which is your savings and other sources.
- The collateral, which is determining if the home’s value provides adequate security for the loan.
After evaluating all of these areas, the Underwriter will determine if the borrower is approved for the loan or not. In some cases, the loan is neither denied nor approved, but instead, the Underwriter will request additional information in order to make a decision.