Loan Processor

CrossCountry Mortgage, LLC•Chattanooga, TN

About The Position

The Loan Processor provides quality customer service by obtaining the 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 borrower and loan information, prepares complete loan files for underwriting, manages the loan pipeline, and assists other mortgage operations teams with outstanding items. The role may also train and assist in supervising new Loan Processors and other processing personnel.

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

Review and analyze borrowers’ credit, employment, income, and assets as required by the loan program before submitting loans to underwriting.
Assemble complete loan packages in the proper order for underwriting and verify required documentation in the file before underwriting.
Complete required loan checklists and verify that applications are complete and accurate, identifying potential underwriting issues.
Prepare loan approval summaries and Forms 1008 and 1003, ensuring document information is accurate.
Communicate with Loan Originators, customers, and Underwriters to obtain initial and missing documentation needed 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 that invoices are received and included in the applicant’s E-file.
Manage the loan pipeline by completing and submitting reports within allotted turnaround times.
Assist with loan setup.
Record 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.