Mortgage Loan Processor - Construction and Renovation

Luminate Bank • Minneapolis, MN

3d • $30 - $34

About The Position

Luminate Bank is redefining modern banking and has experienced significant growth, becoming the fastest-growing state-chartered bank and building one of the fastest-growing mortgage platforms. The bank has grown from $62 million to $500 million in assets in five years and surpassed $4 billion in mortgage originations in 2025. Luminate Bank is recognized for its culture, innovation, and customer experience, aiming to build a nationally recognized financial brand. This role is for a Mortgage Loan Processor responsible for managing the documentation and administrative requirements of the loan application process, ensuring accuracy, efficiency, and compliance with investor guidelines and regulatory standards. The processor will provide excellent service to various stakeholders throughout the loan lifecycle. The ideal candidate will have experience in construction and renovation lending, understanding unique documentation, compliance, and timeline requirements, and managing diverse pipelines including new construction, Agency One-Time Close loans, and renovation programs like FHA 203(k) and Fannie Mae HomeStyle® Renovation loans.

Requirements

• Proven experience as a mortgage loan processor or in a similar role
• Strong understanding of mortgage products, underwriting guidelines, and compliance standards
• Excellent interpersonal and communication skills, including phone conversations
• Demonstrates exceptional operational flexibility and thrives in a fast-paced, evolving lending environment.
• Detail-oriented with strong problem-solving and organizational abilities
• Proficiency with mortgage processing systems and Microsoft Office

Nice To Haves

• Experience balancing the unique documentation, compliance, and timeline requirements associated with construction and renovation lending.
• Strong understanding of multiple loan products.
• Ability to successfully manage a diverse pipeline that includes ground-up new construction financing, Agency One-Time Close (OTC) loan programs, and complex renovation lending programs such as FHA 203(k) and Fannie Mae HomeStyle® Renovation loans.
• Bachelor’s degree in business, finance, or related field

Responsibilities

• Review loan applications for accuracy and completeness.
• Collect, verify, and analyze supporting documentation (income, assets, credit, title, appraisal, etc.).
• Submit complete loan files to underwriting within established timelines.
• Ensure all conditions are met prior to closing.
• Act as the primary point of contact for Loan Officers, borrowers, and third-party vendors during the processing stage.
• Provide clear and timely updates on loan status to all stakeholders.
• Collaborate with underwriters, closers, and other team members to resolve issues quickly.
• Ensure adherence to federal, state, and investor regulations, as well as company policies.
• Maintain accurate records in the loan origination system (LOS).
• Identify and escalate potential risks or red flags during the loan review process.
• Deliver a high level of customer service to both internal and external clients.
• Guide borrowers through document requirements and answer processing-related questions.

Benefits

• Competitive compensation reliant on ability and experience
• Excellent benefits package including health, pre tax HSA, FSA accounts and dental & vision
• Life and AD&D Insurance, as well as additional voluntary benefit possibilities
• 401K with robust company match
• Flexible PTO program
• Earned Sick & Safe Time (ESST)
• The opportunity to work for the Midwest’s fastest growing lender

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree