Loan Processor

Beeline Loans•Providence, RI

12d•Remote

About The Position

We are currently seeking a loan processor to join our team. As a loan processor, you will play a crucial role in facilitating the mortgage loan process, ensuring accuracy, compliance, and efficiency from application to closing. If you have experience in mortgage lending, attention to detail, and excellent communication skills, we would love to hear from you. Ideal candidates should have experience with Retail, Broker, and DSCR loans, strong knowledge of Conventional Fannie Mae and Freddie Mac guidelines, and hands-on experience calculating all income types (salaried, self-employed, DSCR, etc.)

Requirements

Minimum of 2 years of mortgage loan processing
Ability to spot inconsistencies and ensure document accuracy
Ability to work independently and in a team
Ability to multitask and be comfortable working at a fast pace
Able to focus on the present moment
Demonstrate strong interpersonal skills
Evaluate financial documents and borrower qualifications(salary and self- employment income qualification is required)
Expertise in handling mortgage applications from start to finish
Efficient in prioritizing tasks and meeting deadlines
Familiarity with mortgage software and systems
Provide responsive and helpful support to borrowers
Strong understanding of lending regulations
Strong analytical and problem-solving skills
Be a Team Player!

Responsibilities

Review incoming new loan applications:
Validate income and assets and update the application information as needed.
Update 1003 information for Data Integrity
Re-Run AUS findings (DO or LP) if applicable
DSCR loans- validate qualification per rents
Review Documents Presented by the Borrower.
Ensure 3rd party services have been requested, and validate automation orders(flood certificates, fraud guard reports, undisclosed debt monitoring- as applicable)
Complete Verification of Employment (VOE) as needed (work number, other, or verbal VOE).
Initiate the Request for the Home Insurance Policy, finalize the policy before final underwriting, update the mortgagee clause, etc.
Condo Review request - if applicable (ensure condo questionnaire and master insurance are requested by our internal team).
Request additional information from the borrower as needed.
Send a Welcome Email, Text, and Call to the borrower at the initial review; continuous borrower contact throughout the process is mandatory.
Note that Retail and Broker files will differ in process flow; brokered files may be approved as they come into processing. You must work directly with each investor and have intimate knowledge of their guidelines and portals for your daily workflow.
Submit the file to Underwriting, Review Underwriting Conditions, and Request Conditions from the borrower.
Process Conditions accordingly and resubmit to Underwriting for Final Approval Review.
Request Closing upon Clear to Close of the loan; various fee forms may be needed if we are the broker.
Notify the Title Company and Closing Department of the closing request.