Mortgage Loan Processor

ChoiceOne Financial Services • Fenton, MI

76d

About The Position

The Mortgage Loan Processor represents the company in customer service and evaluation of loan applications. This role involves verifying the accuracy of information on loan applications through outside sources, reviewing debt-to-income and loan-to-value ratios, and assembling and submitting a complete documented file to automated underwriting systems. The processor will also review appraisals, schedule and facilitate loan closings, and ensure that all documentation needed to support an underwriting decision and loan closing is in the loan file.

Requirements

• High School Diploma or Equivalent.
• Specific knowledge related to mortgage documents and regulations, Freddie Mac, Fannie Mae, FHA, Rural Housing, and MSHDA.
• Preferably two years' experience in mortgage processing.

Responsibilities

• Maintain caseload in a timely and responsible manner, meeting or exceeding market expectations.
• Maintain open communication with applicants throughout the processing period, assisting with questions and notifying them of additional information needed.
• Daily monitor and act upon incoming mail and documentation needed for approval or closing.
• Review file and submit to automated underwriting systems for approval, issuing approval/conditions checklist.
• Review appraisals for any conditions or issues that need to be cleared up prior to loan closing.
• Monitor compliance alerts in LOS and resolve with urgency, limiting 3-day rule violations.
• Complete a final evaluation and analysis of the completed loan package and prepare the file for closing.
• Provide status reports to applicants, Realtors, and loan officers at key stages of processing.
• Schedule, prepare documents, and facilitate loan closings as a backup to the closer.
• Prepare adverse action notices and 30-day notices when required.
• Participate in creating a good working relationship with other staff members and customers.
• Answer customer calls quickly and efficiently.
• Assist other team members when workflow requires.
• Assist in training new staff members in loan processing.
• Assist in maintaining and updating procedure manual.
• Comply with State and Federal Regulations.
• Utilize manuals and handbooks to increase knowledge of business.
• Fulfill responsibilities with honesty, integrity, and professionalism.
• Be familiar with and comply with the provisions of the Bank Secrecy Act and USA PATRIOT Act.
• Be familiar with and comply with all federal and state banking regulations.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: High school or GED
• Number of Employees: 501-1,000 employees