Mortgage Loan Processor

Loan Processor

The Loan Processor is responsible for the thorough review of a file. They prepare and verify the data on the loan application as well as supporting documentation that has been provided by the loan officer and submit the verified loan files to underwriting. If additional information is needed to render a decision, it is the Processor's responsibility to reach out to the borrower to obtain.

This role is Monday - Friday, 8:30am - 5pm with the opportunity to work from home Monday and Friday.

Essential Duties

Proactively manage a pipeline of loans and review daily reports to identify priorities. Escalate issues to supervisor, when needed.

Provide excellent customer service.

Respond promptly to all forms of communication.

Communicate (both via phone and email).

Calculate income, review assets, know how to calculate student loan debt per product(conv or govt loans) and debt ratios.

Must know how to review a credit report, identify issues that need to be addressed.

Analyze the title report, purchase contract and appraisal on files for compliance.

Perform verbal verifications of employment, when needed if our verification team is unsuccessful in obtaining.

Communicate clearly and professionally with all customers, co-worker, supervisors and management.

Ensure that the customer understands requests and time requirements, provide deadline for documents.

Ensures loan quality standards are met, including the review and resolution of any red flags in a file and the satisfaction of all conditions.

Required to open new loan submissions within 48 hours and validate all file information to ensure that all issues are identified so they may be resolved early.

Contact the borrowers with a welcome call within the opening and validating period to ensure all required documentation is in the file to issue a credit decision.

Ensure loan approval can be accomplished by the contingency date and that closing can be accomplished by the estimated closing date, communicate to LO if we are unable to meet a target so expectations can be reset.

All requests for documentation should be completed through POS "Glyde"

Gather and review all documentation needed for the loan.

Adhere to checklists and procedures.

Create notes and a record of all requests in the conversation log to document issues or escalations.

Prepare loan packets to submit to in-house underwriters, contract underwriters or investor underwriters for approval.

All Loan Processors will also act as a back-up for other team members in processing due to scheduled and unscheduled absences or as volume dictates.

Must know how to navigate Fannie Mae and Freddie Mac selling guides, FHA Handbook, and Allregs.