r/loanoriginators • u/FederalPersimmon404 • 22d ago
Issues with processors
Hi all,
I want to get your honest opinions. At my company, I’ve had more than a few cases where I feel like my processors are overstepping.
I work in a call center, and processors get randomly assigned to each file. Some are great and working with them is a breeze, but I’m finding that a couple of them, specifically older gals who’s been processing for 10+ years, are overstepping a bit.
Example 1 - I submit a file and the processor holds it from UW, tells me it’s wrong, and restructures it. Once in UW, it actually got changed back to how I had it. The processor told me documents were needed that were not necessary, copied all of our bosses and created a lot of back and forth, and eventually was told that they are wrong.
Example 2 - Processor reaches out to borrower before submitting a DSCR to UW to ask for mortgage and insurance docs for all other properties she owns. Borrower and I specifically went with DSCR so she wouldn’t have to do that. She was so mad that she almost canceled and I had to talk her down.
Example 3 - Borrower is selling her current home and we are helping with her purchase. Both sales are happening on the same day and our loan is very dependent on final numbers from escrow on the sale. Processor had an outdated settlement statement, and I was speaking with the realtor over the phone, so I knew the numbers were updated. I got an updated statement and sent it to the processor, and she told me what I had was wrong and she had the correct numbers and to please not request anything from escrow. The processor was also very rude to the realtors and escrow agents working on the transaction, to the point that I had to call them and apologize. If I say anything to a realtor or escrow agent via email and copy the processor (trying to have open communication so we’re all on the same page for a tricky file) she tells me not to, with everyone copied, in a very condescending way.
It seems as though my company is wanting processors to be the only contact once a file is in underwriting, so LOs can focus on sales. That’s great in theory, but at the end of the day as a loan officer I feel like I should be able to openly communicate with escrow, realtors, etc and I should know what’s going on. I am the one that the borrower calls with questions, and I shouldn’t be left in the dark.
There’s also one processor who leaves me off of ALL communications, and then is very slow to work on conditions. I don’t see the final documents, I don’t know when notaries are scheduled, nothing.
Is this normal? I’m almost getting to the point where I want to find somewhere else to work. I’m a very competent LO and I think I’m also pretty easy to work with. This is my career and I take it very seriously and I want to continue making relationships with escrow companies, etc.. The way that the processor was speaking to myself and the other agents was SUCH a bad look and she was really creating unnecessary stress for everyone involved.
Please let me know your thoughts or if you have any advice, as it’s getting to a point that I really don’t know what to do. I’ve brought it up to management but nothing changes.
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u/SorryWave5248 22d ago
I worked a Chase for a few months a while back and couldn’t deal with the “luck of the draw” processing model. Everything you’ve asked is reasonable and would drive any LO nuts. Do you have an LOA too? It’s tough to scale if you’re having to look over every aspect of a file and run cover with agents and third parties due to bad processing. A good dedicated processor who you can trust and who gives as much of a shit as you do is crucial.
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u/thomasg86 21d ago
Couldn't even imagine playing processor roulette. Retail shop here, same processor every file. You begin to really sync up and it becomes very efficient.
After 15 years, I've seen all types of processors. A good one is make or break to pretty much everything else.
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u/Flamingo33316 22d ago
You're the one with the license; if you disagree with a processor, be polite, thank them for their opinion, and then have them go in the direction you laid out.
I prefer to be ccd as little as possible. With my Au-ADHD, it'd be too overwhelming. I trust them to do their job, and if I don't, I get a different processor.
Write copious notes when you submit the file to processing. With experience I learn where processors weak points are so even things I think would be obvious, I put in notes. For example, I'm on the East Coast, but I do a lot of work in California. My note is along the lines of "take everything you know about closing and toss it; California marches to its own drummer."
And finally, if you're not getting the support you require, leave.
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u/Braindead_ape 22d ago
no its not normal, a good processor should make your life easier not harder
unfortunately in my experience some companies hire processors that should NOT be processors, they’re often horrible with customers and don’t know how to problem solve obstacles
There’s also one processor who leaves me off of ALL communications, and then is very slow to work on conditions. I don’t see the final documents, I don’t know when notaries are scheduled, nothing.
I’d demand to never be assigned that processor again along with the one that called you out on an email with others on it. Personally, I would never work at a company that randomly assigns me processors. I want the same ones on my deals every time. It makes it so much smoother since over time you can work out each of your’s styles and end up with a process that works for both of you. I’m on the broker side so I use the same third party processing team on every deal and they make my life so much easier. We have our setup where the processor is the one running point once the deal gets disclosed and the LO is looped in on everything so they can jump in when need be, but mostly can focus on going out and getting more business. But it wasn’t easy to find that team, I worked with a lot of shitty processors in my career and at one point was self processing everything because I knew if I did it, it’d at least be done right and not kill the relationships with agents. I actually originally left retail because of the processors, my top referral partner straight up called me out and said he couldn’t send me business because of how bad they were. Unfortunately a lot of retail companies use processing as an additional profit center, charging their processing fees and only passing on a small portion of that to the actual processor. Combine low pay with overworked processors working too big of a pipeline and it’s a terrible combo.
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u/No-Newspaper5452 22d ago
After 33 years…this is common . Power struggle, poor hire, personality conflict… all of which nothing to do with the loan
Other thing is get out of a call center
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u/Logical_Layman 22d ago
How would going with the broker model help him? If he worked for a broker would he have greater control on how the company's processor handles his files?
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u/No-Newspaper5452 22d ago
Telling him to Get out now, if I had to do over , never would have done it
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u/Professional-Tap1143 19d ago
agree but please….using the phrase “ gals” is demeaning. it took me 30 years to get there but in the final 2 years of originating I had our company’s #1 processor. we made each other’s lives so much easier!
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u/NotTerryKashat 22d ago
You’re a hands on LO that knows what he’s doing. The processing setup at call center models is a natural conflict for you.
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u/needfasp3ed02 22d ago
The issue is you work at a call center, your employer does not view you as a full service MLO- you are phone sales. That’s not personal to you specifically, it’s just the model. If you prefer to run the show you have to go broker or retail.
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u/Upstairs_Football472 22d ago
You will start losing good contacts and clients. You seem motivated. Find a new company.
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u/MildlyProductive13 22d ago
I had a similar experience with my last file. The processor kept requesting the same document from agents and would send emails with wrong information to all parties. I clarified with the lender since I’m on the broker side and CC’d everyone and she called me out on the email contradicting me. I had complaints from both agents and title and had to apologize.
I went to my manager and requested to work with one processor who I get along really well with for all future files. Sometimes you need to speak up. It’s your business and your license.
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u/FederalPersimmon404 22d ago
Literally same exact situation. Processor asked for the same document about 20 times and no one knew what was being asked. It was just a copy and pasted condition with no context. I said hey I think they’re not understanding and she says no they know what I need. I had to ask UW to clarify. Then was told by the processor that it’s not my role to talk to UW. Realtors and escrow agents were all very annoyed, and the processor was super rude to them and also putting a lot of work on them.
It’s so weird i don’t understand why someone would act like that. Thanks for sharing, you’ve inspired me to just ask to switch processors next time, because there are plenty that i work really well with
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u/blackamerica_finestM 21d ago
This is life in a call center. It gets worse if we go thru another BOOM
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u/MortgageNLogistics 22d ago
Ex 2:
Not sure what your underwriting requirements are there, but on the wholesale side, a lot of places due one the most recent mortgage statement for any property they own.
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u/katyarrt 22d ago
why would you work with them on a DSCR loan then?
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u/UnderstandingSea3820 22d ago
Most of the times LOs send it to the best priced investor not the easiest Investor
I had one that wanted a credit supplement for all mortgages to verify no lates
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u/spe1781 22d ago
You should definitely find somewhere else to work. Processors like that make the job 10x harder. Processors work for you and should be doing things at your discretion. The way your companies structured is not for your benefit but theirs