#440 The Loan Processor
Mark tells Mike about his job in banking.
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Mike: So, hey, Mark, what was it like working at a bank?

Mark: Well, I didn't, I worked for a bank, but I didn't actually work in a bank. (Right) Um, what I did was real estate loan processing. (OK) So, that sounds like a difficult thing, ah, it was kind of difficult but basically, when people want to borrow money and they use their house as collateral. In other words, they borrow money, and if they don't pay back the money, the bank will take their house.

Mike: Now, interesting, now, did you, were you actually in charge of, or were you responsible for putting, like stopping people from getting out a loan or from like, did you have any authority?

Mark: Oh, I see, no actually, so my job was kind of the middle man. So, for example, someone goes to a bank, and applies for a loan, then that bank sends me the information and I would basically make the loan documents, I would make the loan papers, and also do things, like I would check how much that house was worth, things like that, and after about a week of checking insurance and how much the house is worth making the loan papers, then I would send the papers back to the bank and the customer would come back in and sign the loan paper.

Mike: Now did you ever get any kind of really strange requests or just, did you ever look at a loan application and go, this person should not be applying for a loan?

Mark: Well, if there was ever any question, um, we then send the information to another person, who's called an underwriter, (Right), and the underwriter has more authority to choose whether that person can get a loan or not.

Mike: Interesting. Wow. Fascinating. Thanks Mark.

Mark: You're welcome.


© Todd Beuckens