Does the Codes definition of loan production staff include underwriters and processors?
The loan production staff consists of those responsible for generating loan volume or approving loans, as well as their subordinates. This would include an employee whose compensation is based on loan volume or the closing of a loan transaction. Employees responsible for the credit administration function or credit risk management are not considered loan production staff.
Related Questions
- Our processors operate from a centralized location but loan officers and underwriters operate all over the country from the comfort of their own home, much as Account Executives and Business Development Officers do for SBA lenders and many banks. Q: Is PetroMAC aware of sites that are for sale?
- Does the Code’s definition of loan production staff include underwriters and processors?
- Does the Code’s definition of loan production staff include underwriters and processors?
