What is LOAN PROCESSING?

Period from loan application’s receipt through loan’s closure measured as a series of action steps tracing the entire life of the loan. Steps include loan acceptance, posting of loan on lender’s books, track of loan pay down, eventual mailing of written notice of loan closure to the borrower.

More On This Topic



Link to This Definition
Did you find this definition of LOAN PROCESSING helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary