Mortgage Loan Processor - Level II

Servion•New Brighton, MN

16d

About The Position

The Mortgage Loan Processor performs administrative duties to process residential first mortgage loans accurately and on time. The role reviews, validates, and prepares loan documentation to ensure loan files are complete and compliant before closing. It requires communicating with borrowers, loan officers, underwriters, closers, and other parties to coordinate information and facilitate smooth closings. The position operates under moderate supervision and is evaluated on accuracy, timeliness, and achievement of processing objectives. At Level II, the processor performs Level I responsibilities with a high degree of independence and also processes FHA and VA loans independently, understands government mortgage programs and their documentation requirements, and enters data on FHA Connection and VA platforms.

Requirements

High school diploma or GED.
Level II requires 2 or more years of experience in the mortgage industry processing conventional and FHA or VA loans.
Ability to perform Level I responsibilities with a high degree of independence.
Familiarity with relevant systems, processes, laws, regulations, guidelines, principles, software, and interactions with individuals or teams.
Excellent communication skills and demonstrated effectiveness working with loan originators and loan applicants.
Ability to interact courteously, effectively, and efficiently with people with a wide range of personalities.
Ability to enter data accurately and efficiently into computer software systems.
Ability to work under stress while maintaining effective coordination among members, loan officers, Realtors, and vendors and complying with policies, procedures, and legal and ethical guidelines.
Ability to communicate facts and technical information clearly and concisely.
Strong attention to detail and ability to manage multiple files and deadlines in a fast-paced environment.
Ability to understand the consequences of problem situations and refer them to the appropriate people for resolution.
Ability to resolve questions and problems with a supervisor, manage personal workflow, and meet deadlines.
Ability to perform arithmetic operations accurately, including calculations involving decimals, rates, percentages, and monetary units, using a calculator.
Ability and willingness to work overtime when requested.

Nice To Haves

A two- to four-year degree.
Knowledge of recent compliance regulations.
Ability to analyze paperwork and perform pre-underwriting.
Two or more years of experience with Encompass LOS.
Knowledge of mortgage lending guidelines and documentation requirements.
Proficiency in mortgage processing systems and standard office software.

Responsibilities

Communicate with loan officers, members, and internal employees.
Review residential loan applications for completeness and compliance with established standards, including mortgage type and amount, borrower assets and liabilities, and employment history.
Apply knowledge of mortgage lending practices and applicable federal, state, agency, and Credit Union requirements.
Follow up on outstanding documentation to obtain it within turnaround-time standards.
Validate loan approvals using Fannie Mae Desktop Underwriter and verify income and assets as required by DU verification messages.
Review credit reports as needed to address inconsistencies identified in DU findings.
Review appraisals for required fieldwork, professional quality, and consistency with Fannie Mae requirements.
Manage incoming appraisal reports and request reviews.
Submit full credit packages for Mortgage Insurance Certificates.
Request insurance binders, schedule closings with outside closing agents, and approve settlement statements.
Collaborate with staff and coworkers to analyze and resolve situations arising during mortgage origination, following company policies and procedures.
Process FHA and VA loans independently and understand the documentation needed to obtain underwriting approval.
Enter data on FHA Connection and VA platforms.
Perform related duties as required.