Mortgage Loan Processor

Lakeview Lending • Southfield, MI

3d

About The Position

Loan Processor - HOI & Payoffs The Mortgage Loan Processor plays a critical role in the lifecycle of our loan origination process. This individual is responsible for managing a pipeline of residential mortgage loans from initial submission through final clearance. The ideal candidate possesses advanced technical proficiency in loan processing, with specialized expertise in Homeowners Insurance (HOI) verification and Payoff coordination, ensuring strict accuracy, compliance, and timely closings. Manage and maintain a high-volume pipeline of mortgage loans (Conventional, FHA, VA), ensuring file progression meets established Service Level Agreements (SLAs). Serve as the primary liaison for Homeowners Insurance. Scrutinize declaration pages, verify sufficient replacement cost coverage, ensure accurate mortgagee clauses, and resolve premium discrepancies in alignment with specific lender guidelines. Execute the ordering, review, and reconciliation of payoff demands. Accurately calculate per diem interest, proactively identify shortages or overages, and coordinate seamlessly with title and escrow agents to ensure precise disbursement. Analyze conditional loan approvals and collaborate with Loan Officers and borrowers to procure necessary documentation (income, assets, credit) to satisfy underwriting stipulations. Facilitate professional, timely communication with internal stakeholders, clients, and third-party vendors regarding loan status, outstanding requirements, and clear-to-close milestones. Uphold strict compliance with all state, federal, and internal regulatory guidelines throughout the processing lifecycle, maintaining comprehensive file documentation.

Requirements

• Demonstrable proficiency in handling complex HOI requirements and payoff calculations is strictly required.
• Advanced proficiency with standard Loan Origination Systems (LOS) and automated underwriting systems (DU/LP).
• Exceptional organizational and time-management skills, with a proven ability to manage multiple priorities and deadlines in a high-volume environment.
• Superior written and verbal communication capabilities, with a strong emphasis on professional client relations.

Nice To Haves

• 1-2 years of dedicated experience in residential mortgage processing.

Responsibilities

• Manage and maintain a high-volume pipeline of mortgage loans (Conventional, FHA, VA), ensuring file progression meets established Service Level Agreements (SLAs).
• Serve as the primary liaison for Homeowners Insurance.
• Scrutinize declaration pages, verify sufficient replacement cost coverage, ensure accurate mortgagee clauses, and resolve premium discrepancies in alignment with specific lender guidelines.
• Execute the ordering, review, and reconciliation of payoff demands.
• Accurately calculate per diem interest, proactively identify shortages or overages, and coordinate seamlessly with title and escrow agents to ensure precise disbursement.
• Analyze conditional loan approvals and collaborate with Loan Officers and borrowers to procure necessary documentation (income, assets, credit) to satisfy underwriting stipulations.
• Facilitate professional, timely communication with internal stakeholders, clients, and third-party vendors regarding loan status, outstanding requirements, and clear-to-close milestones.
• Uphold strict compliance with all state, federal, and internal regulatory guidelines throughout the processing lifecycle, maintaining comprehensive file documentation.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed