MORTGAGE LOAN PROCESSOR - FLORIDA - WATERFORD

First BanCorp•Miami, FL

39d•Onsite

About The Position

The Mortgage Loan Processor is responsible for processing mortgage loan applications from origination to closing. This role involves gathering crucial client data such as income, assets, debts, and REO documentation. The processor will verify and evaluate loan documentation, including debt-to-income ratios, credit reports, credit history, income sources, and property documents. They will prepare and submit detailed loan applications to the credit department for a credit decision. This position requires close collaboration with loan applicants and loan officers to gather financial information, verify its accuracy, determine creditworthiness, and complete the mortgage loan application. A thorough understanding of banking regulations and excellent communication and interpersonal skills are essential for success in this role.

Requirements

At least 4+ years’ experience in mortgage loan processing.
Excellent communicative and interpersonal skills.
Thorough knowledge of the banking regulations.
Knowledge and experience in mortgage lending and knowledge of FNMA and FHA guidelines.
Knowledge of HMDA Regulations (Home Mortgage Disclosure Act)
Good written and verbal communication
Strong analytical and time management skills
Attention to detail and accuracy
Expertise on Microsoft Office, Internet, Encompass Mortgage System.
Communications and interpersonal relations
Work in teams
Effort and engagement
Problem Solving
Associate degree.
Courses/Training: Mortgage area and or have thorough knowledge of the Mortgage Industry.
Four plus years as an experienced Mortgage Loan Processor.
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
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. If needed, for additional information required.
Performs/executes the following verifications to the concerning institutions: employment verification, income statement, banking balance account and history. Evaluating applicant financial information including salary, assets, debts and expenses.
Calculating income by analyzing 1040’s, 1120’s and YTD Profit and Loss statements.
Appraisals analysis/revision – needs to ensure the address matches the subject; the appraisal value and flood zone is accurate in the system.
Submit the interest rate lock and redisclose the LE and Lock-in Agreement.
Act as a liaison between applicants, and loan officers, real estate agents, title companies, and mortgage lending underwriters to help further a loan credit decision.
Maintain detailed documentation of the process in our system - from origination to close
Submit a detailed loan application package to the Underwriting department.
Keeps customers informed on the loan application final decision. Informs customer on transaction relevant aspects as offer, monthly payments and terms (Mortgage Loan Commitment), or re-negotiate terms/conditions of approvals (Counteroffers).
Contacts the customers to follow up on any pending condition.
Order’s hazard/wind/flood property insurance as applicable.
Order’s Master hazard/flood/H06 insurance as applicable.
Obtains title work documents and clears with the FB Legal department if not a FB approved title company. Schedules the loan closing date and delivers clear approved cases to the Closing Unit for final loan closing
Ensure loan files meet lending and regulatory guidelines and policies.