Senior Loan Processor
About The Position
The Senior Loan Processor provides customer service by obtaining documentation needed to underwrite loans and ordering third-party documentation through direct communication with customers and/or loan officers. The role also provides required disclosures in accordance with applicable local, state, and federal regulations. The processor reviews and prepares residential mortgage loan files for underwriting, communicates with customers, loan originators, underwriters, and vendors, and manages pipeline reporting and loan documentation. The role also helps train and supervise new processors and assists closing, secondary marketing, and loan servicing teams with outstanding investor suspense items.
Requirements
- High school diploma or equivalent.
- At least 5 years of residential mortgage processing experience.
- Excellent math and analytical skills.
- Excellent communication skills.
- Ability to prioritize and meet deadlines.
- Availability to work varying hours and overtime if needed.
- Encompass experience.
Nice To Haves
- Working knowledge of RESPA regulations and general knowledge of mortgage and consumer lending regulations, including Regulation Z and Regulation B, and loan documents.
Responsibilities
- Review and analyze borrowers’ credit, employment, income, and assets as required by the loan program before submitting files to underwriting.
- Assemble complete loan packages in the proper order for underwriting.
- Pre-underwrite files by verifying required documentation and completing the loan checklist.
- Verify that applications are complete and accurate and identify potential underwriting issues.
- Prepare loan approval summaries and Forms 1008 and 1003, ensuring the information is accurate.
- Communicate with the Loan Originator, customer, and underwriter to obtain initial and missing qualification documentation.
- Review loans for compliance with mortgage-related regulations, including RESPA, TIL, HMDA, and Regulation B, and prepare required disclosures.
- Contact companies to obtain property surveys, flood certificates, title commitments, and payoff information.
- Verify vendor orders are complete, invoices have been received, and documents are in the applicant’s E-file.
- Manage the loan pipeline by completing and submitting reports within allotted turnaround times.
- Assist with loan setup.
- Document loan-application communications in the conversation log.
- Train and help supervise new loan processors and other processing personnel.
- Assist closing, secondary marketing, and loan servicing in obtaining and clearing outstanding investor suspense items.
Benefits
- Medical insurance
- Dental insurance
- Vision insurance
- 401(k)
- Company-provided short-term disability
- Employee assistance program
- Wellness program
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
High school or GED
