Mortgage Loan Processor - Florida - Waterford
About The Position
The Mortgage Loan Processor is responsible for processing mortgage loan applications from origination to closing. This role involves gathering and verifying crucial client data such as income, assets, debts, and property documentation. The processor will evaluate loan documents, including debt-to-income ratios, credit reports, and income sources, and prepare detailed loan applications for credit decisions. Close collaboration with loan applicants and loan officers is essential to gather financial information and ensure accuracy, determining creditworthiness and completing the mortgage loan application. A thorough understanding of banking regulations is required, along with excellent communication and interpersonal skills.
Requirements
- At least 4+ years’ experience in mortgage loan processing.
- Knowledge and experience in mortgage lending.
- Knowledge of FNMA and FHA guidelines.
- Knowledge of Conventional Non-conforming guidelines.
- Knowledge of HMDA Regulations (Home Mortgage Disclosure Act).
- Good written and verbal communication skills.
- Strong analytical and time management skills.
- Attention to detail and accuracy.
- Expertise on Microsoft Office, Internet, Encompass Mortgage System.
- Fully bilingual, preferable.
- Employee must comply with all requirements related to the CFPB’s Loan Originator Rule and the Secure and Fair Enforcement Mortgage Licensing Act of 2008 (SAFE Act) and its corresponding regulations, including, but not limited to, obtain and maintain an active record and a unique identifier within the Nationwide Mortgage Licensing System and Registry (NMLSR), continue to meet said record and associated minimum register standards, including any applicable continuing education courses set forth by the Safe Act.
Nice To Haves
- Full bilingual preferable.
Responsibilities
- Reviewing mortgage and consumer loan applications.
- Verify customer’s offer information given/provided.
- Customer credit report analysis/verification/interpretation, including payment history.
- Perform verifications with concerning institutions for employment, income, banking balance, and history.
- Evaluate applicant financial information including salary, assets, debts and expenses.
- Calculate income by analyzing 1040’s, 1120’s and YTD Profit and Loss statements.
- Analyze and revise appraisals to ensure the address matches the subject, and the appraisal value and flood zone are accurate in the system.
- Submit the interest rate lock and redisclose the LE and Lock-in Agreement.
- Act as a liaison between applicants, loan officers, real estate agents, title companies, and mortgage lending underwriters to facilitate loan credit decisions.
- Maintain detailed documentation of the process in the system from origination to close.
- Submit a detailed loan application package to the Underwriting department.
- Inform customers on the loan application final decision, offer, monthly payments, and terms (Mortgage Loan Commitment), or re-negotiate terms/conditions of approvals (Counteroffers).
- Contact customers to follow up on any pending conditions.
- Order hazard/wind/flood property insurance as applicable.
- Order Master hazard/flood/H06 insurance as applicable.
- Obtain title work documents and clear with the FB Legal department if not a FB approved title company.
- Schedule the loan closing date and deliver clear approved cases to the Closing Unit for final loan closing.
- Ensure loan files meet lending and regulatory guidelines and policies.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
Associate degree
