The savvy real estate investor has successfully closed multiple deals. During that time, the investor has racked up quite a few hours discussing deals, making improvements and tapping into the talent pool surrounding him. That means knowing who bank loans for investment real estateto call when during the course of any transaction.

When the investor has an application to finance a property and there’s a question, the investor calls the bank. But there are several people at the bank with different responsibilities. Who are the main players at the bank and what are their responsibilities?

The Loan Officer is your primary contact. Your loan officer will help you choose from different loan programs, help document your loan for submission and answer all your loan questions. Your loan officer will be your primary contact throughout the loan approval process from loan application to closing table.

The Loan Processor is a bank associated responsible for preparing the loan application for approval. This means collecting information and disclosures from you as well as gathering up documentation from their party providers such as title reports, appraisals and surveys. If there are any questions about your loan application as the loan is being approved, the loan processor is the go-between between you and the underwriter.

The Underwriter is the individual that ensures your loan application conforms to established lending guidelines. The underwriter is the final arbiter when a loan application is being reviewed. Once the underwriter has determined the loan file is indeed in full compliance, the loan is stamped for approval then sent to the closing department. The closing department prepares the closing documents and publishes lenders instructions the settlement attorney must follow. Once the papers have been signed, the attorney forwards the documents to the bank’s funder.

The funder is the final link and compares the lender’s instructions with the returned documents. When the funder certifies that all has been followed correctly, the funder will issue a funding number to the attorney who will then be able to access the funds needed for the mortgage.