Mortgage Loan Processor

We have an immediate need for a Mortgage Loan Processors for our growing financial services customer.

This candidate will be responsible for the entire end-to-end mortgage loan process. They will gather and process all loan documentation and ensure compliance with policy, regulatory, and loan terms.

Responsibilities include:

• Processing loan applications for residential customers in accordance with established policies, procedures, and timelines.
• Have a clear understanding of lending regulations, including but not limited to the preparation of Initial Disclosure documents, as they relate to TILA-RESPA (Loan Estimate and Closing Disclosure completion).
• Conducts initial loan review, requesting 3rd party reports and verifications, contacts appropriate party about missing documentation, notifies attorney with preliminary closing request and prepares various forms and reports.
• Analyze and request information to process mortgage applications which includes, but is not limited to, credit reports, appraisals, title work, verification of employment, calculation of income, asset verification and any other pertinent information.
• Knowledge of mortgage products. Ability to analyze customer needs, identify options for appropriate loan programs to discuss with the V.P. Loan Production Manager.
• Knowledge of Secondary Market (FreddieMac/Fannie Mae) underwriting requirements. Loan Processors are responsible for keeping up with changes underwriting policies and procedures. Attends relevant meetings and seminars as requested by supervisor.
• Prepares file for underwriting and documentation completion. Works with underwriter to obtain necessary documentation for approval/denial process. Upon loan approval, sends completed loan file to Closing Department.
• Accountability for obtaining signed rate lock form from customer, if applicable. Collection of application and if applicable, rate lock fees.
• Processor must accurately determine customer’s request to escrow monthly taxes and insurance. Review payment method with customer prior to loan closing.
• Communicate at least weekly if not more often with customers throughout the loan process, keeping them informed of their loan status; as well as inquiries from originators, branch managers and other Bank personnel within scope of authority and expertise in accordance with established customer service guidelines.
• Accuracy of data in processors loan pipeline. Processors are to consistently update and maintain loan status in our loan origination system. Document work performed on loan files in our loan origination system.
• Responsible for meeting department service level goals.
• Prepares and provides a variety of ongoing and recurring reports.
• Perform a variety of administrative and clerical support duties as required.
• Performs all duties in accordance with prescribed regulatory compliance guidelines.

Qualifications

• Ability to adapt to any mortgage department changes
• Must be detail oriented and able to meet strict deadlines
• Must possess excellent communication, organizational, customer service, interpersonal, and computer skills
• Able to use various types of office equipment, including personal computer and peripheral devices
• Good understanding of banking products and services
• Ability to navigate Bank’s lending systems
• Working knowledge of Microsoft Word & Excel

Experience

• High School diploma or equivalent
• One to two years loan processing or related experience