LSPs are customer-facing apps or platforms that handle loan requests on behalf of multiple lenders.

An underwriter is a loan officer who evaluates a loan application to determine whether it is viable for the bank. The underwriter assesses the financial history of a client to check whether they are a risk worth taking.

A loan servicing company manages the day-to-day tasks of administering loans, such as processing payments, managing escrow accounts, and handling customer service for loan borrowers.

A loan application processor reviews and organizes loan documents submitted by borrowers, ensuring that all necessary information is complete and accurate before the loan application is sent to the underwriter for approval.

A loan specialist assists borrowers by providing advice on loan options, guiding them through the application process, and helping to ensure that they meet the requirements for securing a loan.