Mortgage Loan Processor

Job Description

Job Description

POSITION SUMMARY

Work directly with Mortgage Loan Originators, Underwriter, Customers and third parties to obtain and evaluate documents and verifications to successfully complete the processing of the mortgage loan.

ESSENTIAL FUNCTIONS

• Position includes processing loans for Fannie Mae (FNMA), portfolio, construction, term home equity and home equity line of credits.
• Review initial application package before disclosing it to the customer; check Loan Estimate (LE) and documents for accuracy.
• For each loan assigned, contact the borrower (either by phone or email) to introduce yourself and outline documentation still needed and to enhance the customer’s experience.
• Review initial application package for signatures; Review financials for credit approval; Submit to underwriter.
• Order, review and upload to Loan Origination System (LOS) system once received, the title work, appraisal, flood certification, verifications, private mortgage insurance (PMI), homeowner’s insurance, tax returns / transcript, if applicable and any other mortgage processing items that were conditioned.
• Contact third parties and borrowers to verify the accuracy of information and / or to follow up on all outstanding orders / documents needed within established deadlines.
• Verify all signatures (wet or e-signature) are captured on loan documents and supporting items. Upload all documents to the LOS systems during the process.
• Document third party updates and customer conversation within the LOS system, so that mortgage staff is aware of the status of the file.
• Ensure the file is accurately prepared for final underwriting.
• Prepare and send prelim Closing Disclosure (CD) to borrower.
• Prepare all closing documents once loan is approved by underwriting, including balancing the final CD with the title company.
• Manage and update the mortgage loan closing calendar.
• Prepare wire for loan funding.
• Review closing package for signatures and correct dates.
• Complete booking checklist and book loan to FiServ.
• Activate private mortgage insurance (PMI), upload UCD and complete Lereta and IN RReal, if applicable. Record mortgages / deed, if applicable.
• Meet often with Mortgage Loan Originator to discuss and manage current pipeline.
• Provide high quality, positive, friendly, accurate, professional service to customers and employees. Respond to inquiries, calls, messages and correspondence in a timely manner.

MENTAL DEMANDS

COMPETENCIES

SKILLS

QUALIFICATIONS

PHYSICAL DEMANDS / WORK ENVIRONMENT REQUIREMENTS

The physical demands and work environment of this position are typical of an interior / office work environment with limited physical effort required and no or very limited exposure to physical risk.

The above statements are intended to describe the general nature and level of work being performed by the incumbent assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and / or skills required of all personnel so classified. Duties, responsibilities, and activities may change or new ones may be assigned at any time with or without notice. Wayne Bank promotes an equal employment opportunity workplace which includes the consideration of a reasonable accommodation of otherwise qualified disabled applicants and employees. This job description does not create an employment contract, implied or otherwise, other than the employment-at-will relationship.