Senior Loan Processor - Mortgage

Bank of Hope•Irvine, CA

1d•Onsite

About The Position

The Senior Loan Processor - Mortgage is responsible for ensuring loan files are in proper condition, submitting complete packages to underwriting for approval with minimal conditions, and adhering to compliance timing requirements and outlined turn times. This role involves organizing, analyzing, updating, and validating loan files in the Loan Origination System (LOS), reviewing for potential fraud or misrepresentation, resolving compliance notices, and following up with Underwriting for timely processing and approval. The position also requires retrieving and reviewing all conditions from parties and Underwriting, ensuring change in circumstance requests and notifications are handled correctly, ordering and uploading closing protection letters, reviewing condominium-related documents, performing employment verifications, completing closing transmittals, and coordinating with the funding department. Additionally, the role involves managing the loan pipeline, updating close of escrow dates, and ensuring these dates do not expire.

Requirements

Minimum Education Level: High School Diploma
Prior Experience Required: 10+ years
Required: Mortgage loan processing experience
Required: Good working knowledge of Encompass
Required: Knowledge of Conventional, Jumbo, FHA/VA loans
Required: Well-developed problem-solving skills to research and resolve discrepancies
Required: Ability to multi-task in a fast-paced environment
Required: A professional work ethic and attitude

Responsibilities

Ensure files are in proper condition and submit complete package to underwriting for approval w/min. conditions.
Ensure compliance timing requirements are met.
Adhere to the turn times outlined in the Loan Workflow Expectations.
Review files for errors & inconsistencies, organize, analyze, update, and validate the loan files in the LOS.
Review files for possible signs of fraud/misrepresentation, review fraud report, resolve LOS compliance notices.
Follow up with Underwriting for timely processing and moving the file to approval.
Retrieve and review all PTD’s conditions received from all parties and Underwriting conditions are cleared timely.
Ensure change in circumstance requests are completed when a valid change occurs.
Ensure change in circumstance are notified to disclosure desk timely.
Order review and upload closing protection letters to the LOS.
Retrieve and review condominium questionnaires, insurance policies and other corresponding condominium docs.
Perform verbal (or written) verification of employment.
Complete closing transmittals and submit file to the closing department with all required closing documents.
Coordinate with funding department for any outstanding PTF conditions and cure them.
Manage loan pipeline and update all close of escrow dates and ensure the dates have not expired.