what is the difference between a loan officer and a loan processor ?

does the loan processor mainly do the paper work? is doing sales part of the processor's job description?

Asked By: cscadena - 4/26/2007
Best Answer - Chosen by Asker
The so called loan "Officer" is the salesman, the processor does the papper work, and is never involved in sales process.
Answered By: SMEAC - 4/26/2007
Additional Answers (2)
They may be one and the same, or the loan officer may be the one with the decision making responsibilities, and the processor is the one that executes the paperwork. It depends on the size of the instutution.
Answered By: T J - 4/26/2007
In most states Loan Officers need to be license by the State and are able to solicit business and collect commissions from the business they produce. Loan processors do not need to be license and there duties are usually to assist loan officers. Processors can not solicit business and in most states it is illegal for a... More
Answered By: raulangelrodriguez - 4/26/2007
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