Mortgage Processor Jobs

About The Position

Requirements

• High school diploma or general education degree (GED)
• 4-6 years related experience and/or training
• 4-6 years mortgage lending or similar financial experience and/or education preferred
• Ability to work under stress and meet deadlines
• Ability to operate related equipment to perform the essential job functions
• Ability to read and interpret a document if required to perform the essential job functions
• Ability to travel if required to perform the essential job functions
• Ability to lift/move/carry approximately 10 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an “undue hardship” then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.

Nice To Haves

• Bachelor’s degree preferred
• Equivalent combination of education and experience considered

Responsibilities

• Reviews and inputs incoming documents (i.e. VOE, VOD, credit, etc.) into Mortgage Loan Operating System (LOS).
• Reviews residential loan application file to verify that application data is complete and meets establishment standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment.
• 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 and notifies lender of any discrepancies.
• 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.
• Reads notepad for pertinent information not obvious in file, 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.