Loan Processor Iii, Specialty Loans

3 weeks ago

Chicago, United States Guild Mortgage Company LLC Full time

**Guild Mortgage Company**, closing loans and opening doors since 1960. As a mortgage banking firm we are dedicated to serving the home owner/buyer. Our goal is to provide affordable home financing for our customers, utilizing the best terms available while providing a level of professionalism and service unsurpassed in the lending industry.

Position Summary

Essential Functions
- The processor is to become the contact for non-licensed activity once the loan is submitted to them.
- Monitor the overall lending process, and identify, resolve, and communicate issues that could impact timely closure of loans.
- Identify potential issues and communicate to consumer and loan officer.
- Order and review all third party documentation, including credit checks, title reports, appraisals, tax returns, verifications of employment/assets, etc. to identify and address potential issues.
- Stay current with federal, state regulations, policies and industry trends.
- Check ratios, and verify accuracy of AUS findings and program applicability.
- Review and verify documentation integrity to ensure it aligns with findings, completeness and compliance, and submit loan file to underwriting for approval.
- Identify qualifying/program issues prior to submission to Underwriting, and re-structure loan as necessary.
- Provide options within guidelines and makes recommendations if borrowers may qualify for suitable programs.
- Update and verify accuracy of data input into system.
- Verify compliance with Company standards, federal and agency regulations, standards, and guidelines, as well as any applicable state-specific and or local regulations, ordinances, etc.
- Obtain and verify clearance of all underwriting conditions and prepare the file for submission to Closing.
- Order generation of loan documents.
- Coach and provide guidance to less experienced Processors as needed.
- Provide status updates to Loan Officers and/or borrowers.

**Qualifications**:

- High school diploma or equivalent required; college courses/technical training related to Business, Finance/Accounting, Legal, or related field is preferred.
- Total recent work experience includes five or more years’ experience as a Loan Processor, preferably processing conventional and FHA loans along with at least two years of experience processing VA and Bond mortgage loans.
- Ability to build strong relationships with loan officers, production, underwriting, closing and other internal and external partners.
- Expert knowledge of overall mortgage lending internal processes and control, as well as federal, state, and regulatory requirements/guidelines related to consumer mortgage lending for conventional, FHA, VA and Bond mortgage loans.
- Expert knowledge of conventional, FHA, VA and Bond mortgage loans, including various product/program guidelines, necessary conditions for approval, and investor specific guidelines.
- Expert knowledge in new construction documentation and condominium projects.
- Sound judgment, ability to think critically, including the ability to evaluate facts and data to draw conclusions, determine the downstream impact of decisions and associated risks.
- Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
- Excellent customer service, interpersonal, verbal and written communication skills
- Intermediate math skills.
- Strong verbal and written communication skills.
- Strong detail orientation and highly organized.
- Prior experience using internal data entry systems, Microsoft Word, Excel and PDF/Document Retention programs

Supervision
- Depending on experience, supervision is intermittent to infrequent
- Depending on experience moderate to high level of independent judgment and discretion related to area(s) of specialization
- May provide guidance to less experienced team members to resolve/escalate issues of high complexity
- Exercise sound judgment in executing core job responsibilities
- Average monthly pipeline is 14 loans.
- Travel: 0%

**Requirements**:

- Physical: Work is primarily sedentary; mobility in an office setting.
- Manual Dexterity: Frequent use of computer keyboard and mouse.
- Audio/Visual: Ability to accurately interpret sounds and associated meanings at a volume consistent with interpersonal conversation. Regularly required to accurately perceive, distinguish and interpret information received visually and through audio; e.g., words, numbers and other data broadcasted aloud/viewed on a screen, as well as print and other media.
- Environmental: Office environment - no substantial exposure to adverse environmental conditions.

Guild offers a pleasant work environment, competitive compensation and excellent benefits package; including medical, dental, vision, life insurance, AD&D, LTD and 401(k) with employer match.

Guild Mortgage Company is an Equal Opportunity Employer.

Target Salary Range: __ - __

**Experience**: Required
- Expert knowledge in new construction d

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