Whenever a borrower applies for new loan and consideration for the application is implemented by the lender, such a procedure is referred to as loan origination. On the other hand, loan servicing pertains to the loan disbursement and repayment process. From consumer loans to commercial loans the procedures always entail origination and servicing, but the actual steps around the two processes vary between different types of loans. The duration of repayment is determined by various factors such as the amount involved, lender policy, and other factors. The bulk of loan applications are instituted directly with the lender, while some are agent assisted and can be completed using paper application forms or online application. Assessment of borrower suitability takes into account factors such as credit history, debt to income ratio among other things to mitigate risk of default. The majority of loans are issued by financial institutions which include building societies, credit unions and banks. Borrowers usually opt to access loans through a trustworthy institution that also offers the best terms and lower interest rates. For banks the idea of cross-selling a variety of financial products to existing clients provides them with a viable marketing opportunity. Retail loans and mortgages are significantly popular products that benefit the service providers through high volume sales. Loan origination through branch channels enables financial institutions to offer a refined service that not only meets the expectations of customers but also satisfies banking regulations. This is because sales agents are always well informed, and various products are easily made available to complement the basic loan products. In the issuing of mortgage loans, origination is handled by the lender or mortgage broker, and based on the borrowers' credit worthiness, the loan is either issued or denied. Online applications are rendered in such a way that they provide necessary disclosures, collect relevant data such as credit reports, they also have the capacity to return an auto-decision in real time. The role of an underwriter is to evaluate the risk of a loan and make a decision on whether or not to give a green light on the loan. Each loan must conform to the guidelines of a specific mortgage loan program, a processor assists in the process by handing over relevant documents to the underwriter after compiling them. When approved a home loan application will be taken to the next level which involves property appraisal, in turn the appraiser will present the lender or broker with his standard appraisal report.