Processor

Moder

About The Position

The Processor is responsible for processing residential mortgage loan applications in compliance with mortgage lending regulations and applicable investor guidelines. This role performs detailed analysis of loan applications, evaluates creditworthiness, and ensures loans meet eligibility requirements for Government and Conforming Full Documentation products. The Processor manages the loan from submission through closing, ensuring documentation accuracy, maintaining communication with all parties involved, and delivering an exceptional customer experience while meeting established service level agreements and funding goals.

Requirements

Excellent customer service and communication skills
Strong attention to detail and organizational abilities
Highly skilled phone communication and borrower interaction
Ability to manage multiple loans and priorities within a fast-paced environment
Deep understanding of mortgage loan processing workflows and timelines
Knowledge of investor guidelines and underwriting requirements
Ability to interpret AUS findings and compliance results
Proficiency in Microsoft Office
High School Diploma or GED required.
2+ years of experience processing mortgage purchase loans
Familiarity with Loan Origination Systems and mortgage processing software

Nice To Haves

Bachelor’s degree preferred
Experience working with Government and Conforming loan products preferred

Responsibilities

Review and analyze loan applications to assess borrower creditworthiness and likelihood of repayment.
Analyze Automated Underwriting System (AUS) findings (DU/LP) and investor guidelines to ensure loan eligibility.
Validate the 1003 loan application for completeness and accuracy, confirming information entered into the Loan Origination System (LOS) is correct.
Review title commitments, fees, and ensure proper fee allocation within the system.
Order subordinations and manage documentation required to support loan structure.
Run AUS engines (DU/LP) to confirm the loan qualifies for the selected product and scoring requirements.
Run compliance engines to confirm loans meet regulatory and investor requirements at time of submission.
Contact borrowers to obtain outstanding documentation including items listed on underwriting conditions and requirements.
Request and obtain documentation from third parties such as: Hazard insurance Flood insurance Payoffs Verification of employment Other supporting documentation
Complete processing checklists to ensure all required documentation has been received and the loan is ready for underwriting.
Submit loan files for underwriting review when appraisal, title, credit, and borrower documentation are complete.
Ensure loan files meet underwriting standards and are complete prior to submission for approval.
Escalate loans through appropriate channels if the loan no longer qualifies or requires restructuring.
Manage assigned loan pipeline to ensure loans move efficiently through the process and meet established service level agreements (SLAs).
Monitor loan status from application through closing.
Track loan status including new applications, approvals, cancellations, and denials using internal systems.
Responsible for meeting monthly funding goals and maintaining productivity standards.
Serve as the primary point of contact for borrowers throughout the loan process.
Act as liaison between borrowers, underwriters, loan advisors, and real estate agents.
Provide regular status updates to borrowers and sales staff.
Respond promptly to incoming inquiries and calls.
Maintain detailed notes of all communication and loan status updates within the Loan Origination System.
Provide feedback to Loan Credit Advisors regarding loan quality and file completeness.
Maintain thorough documentation and communication to ensure transparency throughout the loan lifecycle.
Deliver outstanding customer service while maintaining compliance and operational standards.
Comply with all company policies and procedures.
Maintain regular and punctual attendance.
Performs other related duties as assigned.