Senior Mortgage Loan Processor

Hancock Whitney • Covington, LA

122d

About The Position

The position involves verifying that the information received is accurate and acceptable, requiring a basic knowledge of mortgage documents. The role includes reviewing underwriting conditions, acquiring required documentation, and being responsible for the final presentation of the loan package to an underwriter for the final decision. Essential duties include reviewing and inputting incoming documents into the Mortgage Loan Operating System (LOS), verifying that application data is complete and meets establishment standards, rerunning the Automated Underwriting System (AUS), and recommending loan denials when standards are not met. The role also involves calling companies to obtain necessary documents, reviewing appraisals, assembling files, and submitting mortgage loan application files for underwriting approval.

Requirements

• High school diploma or general education degree (GED)
• Four to six years related experience and/or training; or equivalent combination of education and experience

Nice To Haves

• Bachelor’s degree
• Four to six years related experience and/or training in mortgage lending or similar financial experience

Responsibilities

• Reviews and inputs incoming documents into Mortgage Loan Operating System (LOS)
• Verifies that application data is complete and meets establishment standards
• Reruns Automated Underwriting System (AUS) to ensure same automated decision is applicable
• Recommends that loan not meeting standards be denied
• Calls specified companies to obtain property abstract, survey, and appraisal if needed
• Determines if appraisal is to be ordered and what type
• Reviews appraisal for errors and meets underwriting criteria
• Informs supervisor of discrepancies in title or survey
• Assembles file in electronic imaging system and reviews for completeness and accuracy
• Notes the estimated closing date and type of transaction
• Identifies missing items and notifies appropriate party
• Orders updates to credit report
• Requests needed documentation not previously requested
• Reconciles LOS and AUS
• Gathers all required documentation prior to closing and resubmits for final approval
• Submits mortgage loan application file for underwriting approval
• Orders flood determination
• Types and mails approval and denial letters to applicants
• Confirms closing date and location of closing
• Sends out construction package if necessary to branch lenders
• Prepares closing sheet and sends file to closing department for settlement
• Notates denial or withdrawal status in LOS and prints appropriate package
• Submits denied files to underwriting for review and signatures
• Reconciles fees to determine if funds are missing
• Records data on status of loans, including number of new applications and loans approved, canceled, or denied

What This Job Offers

• Job Type: Full-time
• Education Level: High school or GED