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Loan Officer (General)

Loan Administrator / Manager

Mortgage Loan Officer

Mortgage Underwriter

Loan Underwriter

A Loan Processor processes applications for bank loans including mortgage or commercial loans.  Assists customers with the application process, organizes and reviews credit information or business financial reports, and puts together materials needed for loan underwriters to evaluate an application.

Loan Documentation Specialist

Credit / Loan Counselor

Loan Processor

A mortgage loan or simply mortgage is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is "secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)".

Mortgage Loan Closing

Encompass is a mortgage software that streamlines the loan origination process and provides tools for loan officers and lenders to manage their pipelines, compliance, and communications related to mortgage processing. It automates tasks such as credit reports, income verification, and appraisal ordering, while providing features for borrower communication and relationship management. Encompass is designed to enhance loan processing efficiency, accuracy and compliance, and provide access to critical data and analytics.

Encompass (Mortgage Software)

Loan servicing is the process by which a company collects interest, principal, and escrow payments from a borrower. In the United States, the vast majority of mortgages are backed by the government or government-sponsored entities (GSEs) through purchase by Fannie Mae, Freddie Mac, or Ginnie Mae. Because GSEs and private loan investors typically do not service the mortgage loans that they purchase, the bank who sells the mortgage will generally retain the right to service the mortgage pursuant to a master servicing agreement.

Loan Servicing

The Real Estate Settlement Procedures Act (RESPA) was a law passed by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. §§ 2601–2617. The main objective was to protect homeowners by assisting them in becoming better educated while shopping for real estate services, and eliminating kickbacks and referral fees which add unnecessary costs to settlement services. RESPA requires lenders and others involved in mortgage lending to provide borrowers with pertinent and timely disclosures regarding the nature and costs of a real estate settlement process. RESPA was also designed to prohibit potentially abusive practices such as kickbacks and referral fees, the practice of dual tracking, and imposes limitations on the use of escrow accounts.

Real Estate Settlement Procedures Act

In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations etc. The recipient incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed.

Location	Median Salary
Markham, Ontario	$53,248
National	$50,816
Location +/-	5% Higher
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Location	Median Salary
Markham, Ontario	$53,248
National	$50,816
Location +/-	5% Higher
	Search another salary
	Show me related jobs

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Salary Estimate for Markham, Ontario
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