Mortgage Loan Processor
About The Position
The Mortgage Loan Processor is responsible for the timely and accurate processing of mortgage loan files according to established workflow, procedures and regulations as well as ensuring all dates on disclosures are accurate. The incumbent will process loans from set-up to closing by verifying, compiling and entering borrower information into loan processing system(s), review loan application files to verify that all data is complete and meets standards, including the loan type and purpose, borrower assets, liabilities, and employment; verify Loan Estimate data is in compliance. The incumbent will also verify all loan documentation including income, credit, appraisal, and title, while maintaining strict compliance with all application federal and state regulations. They will interact with Mortgage Loan Officer (MLO) to obtain information from borrower or to seek clarification about documents in the loan file, contact borrower to obtain missing or incomplete information, as necessary, and contact specified companies to obtain property abstracts, surveys, and appraisals. This role provides strong and clear communication to underwriters, other mortgage department personnel and borrowers regarding documents needed for mortgage loan files to ensure quick turnaround time, submits loan application files to underwriting for approval, protects the confidentiality of borrower information, and manages an assigned number of loans with minimal errors and exceptions. The incumbent will remain alert to consumer disclosure issues that arise during loan processing and is responsible for the review and verification of initial disclosures under the timeline set forth by compliance. Additional administrative duties such as faxing, photocopying, filing and phone support may be performed as necessary. The role is responsible for being familiar with all compliance regulations and policies that are applicable to this position and follow and ensure compliance with these regulations and policies.
Requirements
- High school diploma or equivalent
- One (1) year of loan processing related experience and/or experience plus training
- Basic knowledge of bank operations and products
- Basic knowledge of federal and state banking compliance regulations, and other Bank operational policies
- Excellent knowledge of agency guidelines
- Knowledge of federal and state regulations regarding lending and related consumer disclosure requirements
- Effective oral, written and interpersonal communication skills with the ability to carry out instructions, understand procedures and write correspondence
- Proficient in Microsoft Outlook, Word and Excel
- Excellent customer service and time management skills
- Ability to multitask, as shown in previous experience as a processor completing tasks under time constraints
- Good organizational skills and ability to develop basic understanding of underwriting guidelines
- Good data entry/keyboarding and math skills
Nice To Haves
- Some college preferred
- Previous experience using automated underwriting technology preferred
Responsibilities
- Process loans from set-up to closing by verifying, compiling and entering borrower information in to loan processing system (s)
- Review loan application files to verify that all data is complete and meets standards, including the loan type and purpose, borrower assets, liabilities, and employment; verify Loan Estimate data is in compliance
- Verify all loan documentation including income, credit, appraisal, and title, while maintaining strict compliance with all application federal and state regulations
- Interact with Mortgage Loan Officer (MLO) to obtain information from borrower or to seek clarification about documents in the loan file, contact borrower to obtain missing or incomplete information, as necessary
- Contact specified companies to obtain property abstracts, surveys, and appraisals
- Provide strong and clear communication to underwriters, other mortgage department personnel and borrowers regarding documents needed for mortgage loan files to ensure quick turnaround time
- Submit loan application files to underwriting for approval
- Protect the confidentiality of borrower information
- Manage an assigned number of loans with minimal errors and exceptions
- Remain alert to consumer disclosure issues that arise during loan processing
- Responsible for the review and verification of initial disclosures under the timeline set forth by compliance
- Perform administrative duties such as faxing, photocopying, filing and phone support as necessary
- Responsible for being familiar with all compliance regulations and policies that are applicable to this position and follow and ensure compliance with these regulations and policies
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
