[Mridula Lokare]

I think these files still need someone to keep an eye on them, even if they can’t move forward right away.

The loan officer can stay in touch with the borrower, but the operations team should also keep track of what’s holding things up, which documents are still needed, and what has already been completed.

I feel there’s a difference between a file that’s temporarily on hold because of a specific issue and a lead that’s just being followed up with for future business.

Good record keeping makes a big difference here. If the original loan officer or processor leaves, someone else should be able to open the file and understand what happened, what’s been done, and what still needs attention.

Otherwise, there’s a real chance that a file that could move forward later might simply get forgotten.

I’m curious, do mortgage companies usually have a separate team to handle these files or does the responsibility stay with the original loan officer?