Posted by celeste/ca on 1/24/06 7:14pm
Msg #90794

Paw/FL maybe you know my question:

Does anyone know what a processor does for mortgages? I may not be asking the question right, but I had a broker contact me, and wanted to know if I knew of any processors in my area because he was trying to get into sub prime loans now and needed help.

Reply by Charles_Ca on 1/24/06 7:23pm
Msg #90799

I'm not PAW but perhaps I might be ablet to answer your

question. I am a contract processor in California. A processor has specialized software and actually assembles the loan for the loan officer as well as keeping the loan on track, contacting the contractors such as appraisers and handling all of the minutia of the loan. I started p rocessing my own loans but over the yers have branched out to do others. I am certified by Windso Capital Mortgage as a contract loan processor. Hope this helps

Reply by celeste/ca on 1/24/06 7:28pm
Msg #90803

Re: I'm not PAW but perhaps I might be ablet to answer your

Yes, thank you. He wanted to know if I knew of any processors in my area to handle his loans, and then I would do all the signings in my area.

Reply by Charles_Ca on 1/24/06 7:36pm
Msg #90812

Re: I'm not PAW but perhaps I might be ablet to answer your

A processor doesn't have to be in the area. That is one of the great things about it. A FAX, computer, and telephone and its ready to go. A procesor can be anywhere and there are a number of contract processors out there. It is unfortunate but a google search produces nothing.

Reply by PAW_Fl on 1/24/06 7:54pm
Msg #90829

Re: I'm not PAW but perhaps I might be ablet to answer your

Thanks for responding, Charles. I've been a bit too busy to get on board this afternoon, so trying to catch up a bit befor I leave for my 9 o'clock (around the corner).

Reply by Charles_Ca on 1/24/06 8:31pm
Msg #90842

Really glad to hear you are hard at it again PAW. NM