Loan Processor

Position Title: Loan Processor (Non - LO - Processor)

Department: Loan Operations Job Status: Full Time/Hourly

Reports to: Loan Processing Team Lead Amount of Travel: None

Salary: $18.41-$23.02

Vanderbilt Mortgage and Finance, Inc. (VMF) was established in 1974 and currently services over 150,000 loans. Our strength as an organization is rooted in the quality of our people and products. We are an equal opportunity employer committed to creating a diverse workforce. Furthermore, we are financially strong, with a reputation for leading the industry with unsurpassed products, a broad range of services, and a coast-to-coast presence. We are professionally strong, from entry level to more experienced positions, we are actively recruiting individuals who are passionate, positive, and eager to learn. As a member of our team, we will equip you for success. You will enjoy excellent benefits, opportunities for growth, and an encouraging culture that supports work-life balance.

JOB SUMMARY

The Loan Processor is responsible for collecting, evaluating, and prioritizing the necessary elements to approve and build a loan using Federal and State regulatory guidelines. This role reports to the Loan Processing Team Lead and performs administrative tasks surrounding loan processing and does not negotiate or advise credit terms with consumers.

JOB FUNCTIONS

Loan Processing

• Determines proper documentation required based on income/employment types and loan types to verify income, employment, and other financial stipulations to ensure the customer's ability to repay the loan.
• Works alongside our retail partners and applicants to gather, monitor for accuracy and sort documents. Examples of some documents but not limited to are customer identification, property owner's agreement, park address, contact information, home invoices, trade home titles, proof of property ownerships, real estate purchase agreements, bi-weekly mortgage requirements, job gap letters, site rent, living expenses, landlord references, use home repairs, etc.
• Calculates and verifies income amounts to ensure provided information is accurate.
• Reviews legal documents such as deeds, tax receipts, property owner's agreements, and purchase agreements to verify ownership of real estate.
• Processes final review of loan application and communicates completion to the closing department.
• Utilizes company and department resources to maintain knowledge of loan operations policies and procedures as well as state and federal regulations to ensure compliance in loan packages.
• Manages rapid changes in application volumes based on market demands. On average expect to manage a pipeline of 50 applications.
• Conducts research and makes knowledgeable decisions regarding issues relating to mortgage loan processing.
• Uses time management skills to balance workload while receiving inbound calls, emails, and meetings.
• Documents detailed and descriptive notes of customer interactions in loan originations system (LOS) to support internal audits and provide appropriate customer support.

Communication and Correspondence

• Provides process education and expectations to our customers and retail home centers using various methods of communication, such as calls, texts, emails, notes, and our online express portal.
• Meets and regularly maintains department telephone availability of five and half hours. Responds to voicemails within 24 hours. As well as meeting standards including but not limited to call quality, accuracy, loan turn time, and Net Promoter Score (NPS).
• Utilizes notes within LOS to communicate the status of applications and follow up with applicants and retail partners.
• Works and communicates in a one-to-one relationship with a loan officer and approximately three to five retail partners to remain aligned on the status of loan applications.
• Acts as the main point of contact for our applicants and is expected to have a base understanding of what our sister departments in originations do to deliver updates on their behalf.

Continued learning, training, and team building

• Attends training sessions, monthly and quarterly meetings for process improvements, training, and team building.
• Completes compliance training regularly through the company portal.
• Provides peer-to-peer coaching; processing works closely with other departments (closing, audit, land exam) and peer-to-peer coaching is expected and encouraged with processors and sister departments.
• Develops and maintains strong working relationships with all departments within Originations, home centers, and various other internal teams. Fosters a collaborative environment.
• Possesses a strong team-oriented mindset and communicates timely with fellow team members to assist with volume and resolve issues as needed.
• Stays conscious of department and individual goals such as: turn time, NPS, audit scores, checklist items completed, phone response time, email response times, closing percentages, etc.

This job description is not an exhaustive list of all the functions that a team member and other duties may be assigned.

QUALIFICATIONS:

• High School diploma or equivalent required, college preferred.
• 0-2 years related experience preferred.
• Must have strong computer skills with ability to navigate Microsoft Office Suite.
• Ability to conduct research, multitask, and quickly adjust prioritization of loan files.
• Great attention to detail, organizational skills, ability to perform under pressure while maintaining accuracy.
• Positive, resilient attitude while remaining flexible to change.
• Self-motivated and dependable.
• Ability to work in a solution oriented, team environment.
• Must have excellent written and verbal communication skills as well as phone and text etiquette.
• Willing to learn, hard-working, determined, and assertive.

PHYSICAL DEMANDS:

• Must be able to remain in a stationary position 75% of the time.
• Will be constantly operating a computer and other office productivity machinery, such as a telephone, calculator, copy machine, and computer printer.
• Will be communicating via phone, Teams, and Zoom. Must be able to exchange accurate information at all times.
• Must be able to exchange accurate information at all times.
• Must be able to identify and assess account status and determine appropriate process.
• Will constantly work in a state-of-the-art indoor temperature controlled, sealed window office environment.

BENEFITS:

• Medical and Dental Plan with Prescription Coverage and Vision
• Competitive benefits including 401(K) includes 100% company match of the first 4%
• Paid time off days (PTO), maternity/paternity leave, and holidays
• Community involvement including Volunteer Paid Time Off (VTO)
• Tuition Assistance for your first degree
• Enjoy coming "home" to our brand new, state-of-the-art Home Office equipped with onsite fitness facility with full gym, workout classes, volleyball and basketball courts, ping-pong, disc golf course, and onsite restaurant
• Wellness programs that focus on emotional, social, spiritual, intellectual, environmental, physical, and financial well-being
• Collaborative and energetic work environment
• Professional development and promotional opportunities
• Competitive bonus programs

Here are some more reasons to choose Vanderbilt Mortgage

• A Berkshire Hathaway Company - an integrity-based organization offering unlimited career growth
• Full-time team members have the flexibility to create their own health, dental, and vision benefits package. Vanderbilt Mortgage and Finance, Inc. provides competitive 401(k) programs, including investment options and company matching for full and part time employees after one year to help our team members achieve their financial goals. Additional benefits include paid parental leave, tuition reimbursement, Employee Assistance Programs, and more.
• Vanderbilt Mortgage and Finance Inc. is a subsidiary of Clayton of which is proud to have earned spots on the following Forbes lists: America's Best Employers, America's Best Employers by State, Best Employers for Diversity, Best Employers for Women.
• As part of Vanderbilt Mortgage's commitment to Opening Doors to a Better Life, VMF is now providing paid time for Team Members to volunteer to causes that are meaningful to them through the Clayton Impact program.
• At VMF, we encourage holistic wellness with physical, nutritional, social, financial, spiritual, and occupational programs available online or in-person for team members.
• Our newly renovated Home Office campus offers an onsite restaurant, onsite fitness facility with full gym, in-person and virtual workout classes, yoga/barre studio, volleyball, and basketball courts, walking paths, and a disc golf course.

Vanderbilt Mortgage and Finance Inc. is committed to a diverse and inclusive workplace. Vanderbilt Mortgage and Finance, Inc. is an equal opportunity employer and does not discriminate on the basis of race, national origin, gender, gender identity, sexual orientation, protected veteran status, disability, age, or other legally protected status.

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