Our pre-hire assessments are for organisational use only and are not available for practice tests

Loan Processing

Regular price $29.00

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The Loan Processing test is a recapitulation of loan processing and investor dedication in capital markets, or as more commonly referred to in the mortgage banking industry "the secondary market." Mortgage banking is clearly the most complex and quantitative customer financial business. It demands a very high level of discipline and analytical rigor that is not a strict requirement in other businesses. Advances in automation technology have made "tracking" of essential documentation by loan processors less laborious. Thus, the mindset of loan processors is on input accuracy, assembling necessary loan documentation, and is not a judgment step, which is the responsibility of loan underwriting. The confluence of increased standardization and increased economic returns has made mortgage lending an attractive investment and business. Such topics covered in this exam are procedural ratification, file maintenance, workflow, and industry terminology. Please also see the entire Accounting Skills package available for additional tests that may fit your testing needs!