Processing

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Related to centralized processing: decentralized processing, Distributed processing

Processing

Compiling and maintaining the file of information about the transaction, including the credit report, appraisal, verification of employment and assets,and so on.

Mortgage brokers usually process the loans they handle. The processing file is handed off to underwriting for the loan decision.

The Mortgage Encyclopedia. Copyright © 2004 by Jack Guttentag. Used with permission of The McGraw-Hill Companies, Inc.
References in periodicals archive ?
By the same token, the move to centralized processing has fostered greater communication among the international operations.
A system failure affects all parts in centralized processing. With a computer network, though, you can isolate the affected part, and the rest of the system will continue operating.
The centralized processing centre at Bengaluru is now fully functional and processing around 20, 000 tax returns daily.
However, to facilitate the implementation of the REMIC, MBA has heard that GNMA plans to mandate that GNMA I remittances be transmitted to security holders utilizing the ACH debit by a centralized processing agent.

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