(Mortgage) Loan Processor

Job Summary

Under the direction of the Branch Manager, Operations Manager and/or Processing Supervisor, evaluates all information supplied on the mortgage loan application, verifies the

validity of the information and assembles a completely documented file to Underwriting and Closing. Acts as the primary liaison between the loan officer, loan officer assistant, realtors,

builders and the customer(s).

Essential Functions

• Maintains knowledge of all policies and modifications to the guidelines and standards of the company, federal housing programs, investors, and private mortgage insurers.
• Maintains and updates loan application information within loan origination software and other applications.
• As applicable, orders appraisals, title, survey, verifications, and any other items required for loan approval; conducts regular follow-ups with outside sources regarding outstanding documents.
• Verifies the data collected, analyzes, and decides whether it meets guidelines or if other documentation is needed; documents communication through the conversation log; ensures loan application is in compliance with underwriting, investor, RESPA, and HMDA guidelines.
• Calculates income, reviews assets and liabilities.
• Reviews all disclosures for completeness and compliance.
• Completes final evaluation and analysis of completed application packages and submits eligible files specifying any applicable conditions.
• Monitors rate lock information for data integrity and expiration dates; communicates discrepancies to the Loan Officer.
• May maintain accurate pipeline to ensure proper projections, closings, and regulatory compliance with Company, Federal, and State standards.
• May prepare, when applicable, “Declination Letters.” Ensures accurate disclosure of the reason(s) for the adverse action as soon as it is determined that applicants do not qualify.
• May schedule closing appointments with respective parties (i.e. title companies, closing attorneys, corporate closing department and customers etc.) Meets customer service standards as outlined by management.
• May facilitate training of junior or newly hired processors regarding specific Prime operations including file flow, loan origination software, and other applications.
• Updates loan officer, loan officer assistant, realtors, builders and customers on loan status.
• Maintains communication with customers throughout the loan process, assisting them with any questions and notifying them of any additional requirements.
• Maintains a professional image and adheres to standards consistent with company policies and procedures.
• Other duties as assigned.

Job Requirements

• High school diploma or equivalent.
• Minimum of 1 year mortgage banking experience as a processor or junior processor, required.
• Must have working knowledge of Fannie Mae/Freddie Mac and FHA/VA policies and guidelines, as well as, Regulatory Mortgage Compliance, state, federal, local government, private investors and insurers.
• Must have working knowledge, or the ability to learn all operating systems and possess the ability to facilitate training.
• Proficient in Excel, Word, Outlook, with the ability to learn other mortgage-related programs.
• Excellent written and verbal communication skills.
• Excellent organizational and time management skills.
• Demonstrated ability to interact effectively with branch, regional and corporate personnel, as well as realtors, sales agents, builders, appraisers, title companies, etc.
• Demonstrated judgment and decision making ability.
• Must be available to work all regularly scheduled hours; arriving at scheduled reporting time and at the prescribed time after any breaks or lunch periods.
• Must be able to work overtime, as required.