Who performs clerical tasks under the supervision of a licensed mortgage loan originator?

The correct answer is that a loan processor or underwriter performs clerical tasks under the supervision of a licensed mortgage loan originator. In the context of mortgage lending, the roles of a loan processor or underwriter are specifically designed to handle various administrative and clerical functions necessary for the loan origination process. This includes gathering and organizing documentation, verifying financial information, and ensuring that all necessary compliance measures are met, all while adhering to the guidelines established by the licensed mortgage loan originator.

These tasks are crucial to the efficiency of the loan process, allowing the originator to focus on client interactions and overall loan strategy. While other roles such as loan officers may engage directly with clients and provide advice, they are often more focused on securing loans rather than managing the detailed documentation and processes handled by loan processors and underwriters.

The loan processor or underwriter operates under the supervision of the licensed mortgage loan originator to ensure compliance with regulatory requirements and the proper processing of the loan. This supervision is necessary because the licensed mortgage loan originator holds the responsibility for the loan application and must ensure all aspects are compliant with applicable laws and regulations.