What is Loan Origination Process and what are the various loan origination channels for U.S Residential Loan?
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Hi Everyone What is Loan Origination Process and what are the various loan origination channels for applying a U.S Residential Mortgage Loan ? I have heard that in a loan origination process, borrower can apply for loan using various channels of loan origination process. Please give an idea of various channels used and various "Role Players" for each channels ( Like lender ,broker etc) Also help me with various benefits and disadvantages for each channel of loan origination process.. Thank so much for your help..
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Answer:
Call Bank of America Mortgage Services ^ google it. You will need 20% down payment if you are from outside the US. Hopefully you are a transfer and can prove 2 years of steady employment.
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