Mortgage Loan Processor

Overview:

The primary function of the Loan Processor is to ensure the timely and accurate packaging of all loans originated by their corresponding team of mortgage advisors for submission to the underwriting team. The Loan Processor will also be the primary point of contact that connects and coordinates with the mortgage advisors, borrowers, lenders/investors, and third-party service providers to move a mortgage loan from loan origination through settlement.

Principal Responsibilities:

• Assist mortgage advisors in accurately inputting loan applications into the loan origination system
• Assist mortgage advisors in gathering borrower financial information (tax returns, paystubs, bank statements, etc.) and other related documents that are part of the application process, and review the documents for completeness
• Review entire loan packages provided by the mortgage advisors to ensure they are complete, accurate and compliant
• Register and/or lock loans and submit loan packages to underwriters, per mortgage advisors instructions
• Order and follow up on third-party services including credit reports, appraisals, preliminary title reports, hazard insurance, etc.
• Review third-party service documents for accuracy and update loan origination system accordingly
• Correspond with underwriters to clear all conditions for loan approvals
• Maintain document tracking log for each loan within loan origination system
• Maintain correspondence log for each loan within loan origination system
• Communicate with clients information regarding their loan approval, denial or counter offer and assist the mortgage advisor in resolving any problems that arise throughout the loan process
• Communicate with real estate agents and other stakeholders on the progress of each loan
• Update closing cost numbers as supporting documentation requires
• Issue revised Loan Estimates and initial/revised Closing Disclosures
• Prepare loans for settlement and request closing packages from closers
• Ensure that all loans are processed in a legally and ethically compliant manner
• Attend meetings and training, from time to time, as required by Company
• Perform other duties as needed to meet the ongoing needs of Company

Qualifications:

• Must be able to manage multiple priorities and demanding deadlines
• Ability to work effectively in a team environment consisting of individuals with varying personalities
• Excellent oral and written communication skills
• Possess strong organizational skills
• Currently and proficiently using the Encompass loan origination system
• Proficiency in LPA/DU/GUS automated underwriting systems
• Proficiency in Microsoft Office software programs, including but not limited to Outlook, Word and Excel
• Possess active Mortgage Loan Originator license or be willing to obtain such within first six (6) months of employment
• Ability to work independently with little supervision at times
• Possess a positive attitude at all times, even during potentially stressful times

Performance Expectations:

• Adhere to service time commitments
• Maintain an active pipeline of 40 to 60 loans
• Close approximately 20 to 25 loans per month

Company Benefits:

• Medical insurance
• SIMPLE IRA retirement plan with company match
• Ability to help grow the company with a voice at the table