A Georgia assistant in 2026 collects pay stubs and verifies employment for files another firm will underwrite. Does collecting and verifying underwriting information fall within loan processing?
Correct Answer
C) That is processing: collecting or verifying the data for underwriting
Generally, to process a loan means to collect or verify from a borrower or another person the information necessary to underwrite, or to submit for underwriting, a mortgage loan application package. Other choices: doing the underwriting is not the definition; borrower contact is not what makes the work processing; and assembling the package is one form of it rather than the boundary. Source: Ga. Comp. R. & Regs. 80-11-4-.07(3)
Why This Is the Correct Answer
Generally, to process a loan means to collect or verify from a borrower or another person the information necessary to underwrite, or to submit for underwriting, a mortgage loan application package. Other choices: doing the underwriting is not the definition; borrower contact is not what makes the work processing; and assembling the package is one form of it rather than the boundary. Source: Ga. Comp. R. & Regs. 80-11-4-.07(3)
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