Loan Processor

CrossCountry Mortgage • Chattanooga, TN

8d

About The Position

The Loan Processor provides quality customer service by obtaining documentation needed to underwrite loans and ordering third-party documentation. The role communicates directly with customers and/or Loan Officers and provides required disclosures in accordance with applicable local, state, and federal regulations. The Loan Processor reviews and assembles loan files, verifies documentation and application accuracy, identifies potential underwriting issues, and coordinates with internal teams and external vendors to advance loans through processing. The position may also help train new Loan Processors and assist closing, secondary marketing, and loan servicing teams with outstanding investor suspense items.

Requirements

• High school diploma or equivalent.
• At least 5 years of residential mortgage processing experience.
• Experience with Encompass.
• Knowledge of DU, LP, Microsoft Office, and Windows.
• Excellent math and analytical skills.
• Excellent communication skills.
• Excellent prioritization and time-management skills.

Nice To Haves

• Working knowledge of RESPA regulations and general knowledge of mortgage and consumer lending regulations, including Regulation Z and Regulation B requirements, and loan documents.

Responsibilities

• Thoroughly review and analyze borrowers’ credit, employment, income, and assets as required by the loan program before submitting files to underwriting.
• Assemble complete loan packages in the proper order for underwriting and verify all required documentation in the file before underwriting.
• Complete the required loan checklist.
• Verify applications are complete and accurate, and identify potential underwriting issues.
• Prepare loan approval summaries and Forms 1008 and 1003, ensuring the accuracy of information on the documents.
• Communicate with Loan Originators, customers, and Underwriters to obtain initial and missing documentation required to qualify loans.
• Review loans for compliance with mortgage-related regulations, including RESPA, TIL, HMDA, and Regulation B, and prepare required disclosures.
• Contact companies to obtain property surveys, flood certificates, title commitments, and payoff information.
• Verify vendor orders are complete and invoices are received and stored in the applicant’s E-file.
• Manage the loan pipeline by completing and submitting reports within allotted turnaround times.
• Assist with loan setup.
• Document all loan-application communications in the conversation log.
• Train and assist in supervising new Loan Processors and other processing personnel.
• Assist closing, secondary marketing, and loan servicing teams in obtaining and clearing outstanding suspense items from CrossCountry Mortgage investors.
• Work varying hours and overtime when needed.

Benefits

• Competitive compensation plan for eligible employees.
• Medical insurance.
• Dental insurance.
• Vision insurance.
• 401(k).
• Company-provided short-term disability.
• Employee assistance program.
• Wellness program.
• Robust benefits package.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: High school or GED