Ruth Lee
I found this question on an industry networking site. This question was posited by an assistant vice president for an international (BPO) business process outsourcing firm… I assume looking to penetrate mortgage market outsourcing. The reason it is notable – it highlights the reality that we work in an industry that requires specific knowledge, with process management that cannot be addressed in a few questions or in a couple of weeks of “mortgage boot camp.” Our industry vocabulary is contextual… Therefore, this question doesn’t make any sense… I know what he is asking…but as stated – it has to be interpreted….Refinances can be first mortgages and a refinance, by definition, is a new loan. I believe he is asking purchase/refinance – but that isn’t what he asked.
“Please explain the key similarities and differences in the process between First Mortgage Originations(new loans) and refinance loans.”
February 13th, 2010 at 2:04 am
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February 14th, 2010 at 3:22 am
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