Interview Q&A: Loan Officer Interview Questions And Answers. – Certain questions are much more likely to be asked during loan officer. confident that you actually have the skills necessary to be a good loan officer.
Once you choose a loan officer, don’t fall asleep at the wheel. Instead, start asking questions. Ask your loan officer if she will meet the same rate and terms. If not, consider switching lenders. Unless you have made a commitment to the lender or paid upfront fees, which you should never do, you are.
A conforming loan simply means that the loan meets standards set by Fannie Mae and Freddie Mac, including loan limits. A nonconforming loan is one that exceeds those limits, which is why it’s often referred to as a "jumbo" mortgage. Most lenders opt for a conforming loan as it’s easier to insure and/or sell.