What task involves communicating with a borrower to collect necessary information for loan processing?

Prepare for the Utah PLM Test with flashcards, multiple choice questions, and detailed explanations. Maximize your chances of passing with a thorough review of lending and mortgage concepts.

The task of communicating with a borrower to collect necessary information for loan processing is classified as a clerical duty. Clerical duties encompass a variety of administrative tasks that are essential in the organization and management of information related to loan applications. Such tasks include gathering documentation, data entry, and ensuring that all required information is collected in a timely manner to facilitate the loan process.

This role is fundamental in ensuring that the loan officer has the complete and accurate information required to evaluate the borrower’s application. Effective communication with the borrower helps clarify any uncertainties and ensures that no critical information is missing, which could delay the loan processing. By serving as the primary point of contact for collecting information, the clerical duty efficiently supports the overall mortgage lending process.

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