Mortgage Loan Processor

Description

Position Summary

Responsible for accurately managing mortgage loan documentation through our established systems, and reviewing it to ensure it is completed in full and complies with current mortgage regulations and policies. 

Mortgage Loan Processor Essential Responsibilities

• Performs a general evaluation of the loan application, financial documents and mortgage type.
• Verifies, through outside sources, the validity of the information, calculate debt-to-income and loan-to-value ratios.
• Open files: order credit reports and appraisals then send out verification forms. Conduct regular follow-up with outside sources for outstanding documents.
• Update Realtor and loan officer on file status. Notify borrowers and realtors of underwriting decision.
• Maintain an open line of communication with the applicant throughout the processing period.
• Monitor mail and documents for information verifying the collective data keeping logs and tracking developments to ensure compliance with underwriting guidelines.
• Process requests for extensions.
• Complete a final evaluation and analysis of the completed application package. Prepare the file for approval specifying any applicable conditions.
• Review the commitment and any required disclosures.
• Maintains a professional image and standards consistent with company policies and procedures.
• Responsible for a high level of confidentiality and security while handling company information; verbal and/or written documentation.
• Performs other tasks as requested.

Requirements

Knowledge, Skills and Abilities

• Working knowledge of FHLMC and/or FNMA and FHA/VA guidelines and private mortgage requirements.
• Ability to read, write, and communicate at a level consistent with the requirements of this position, including legal documents and to non-technical staff.
• Ability to clearly organize information, understand relevant laws, identify and fix any financial discrepancies that may arise, and perform mathematical equations accurately.
• Ability to learn and support new systems and applications, and use critical thinking to make good decisions and meet deadlines.
• Must be self-motivated and enthusiastic to obtain personal and company goals.
• Ability to stay organized to easily retrieve information and documents as needed.
• Flexibility to adapt to peak periods of heavy workload and pressure.

Experience and Training

• Bachelor’s degree in related field, preferred. High school diploma or equivalent is required.
• Minimum of three years’ overall mortgage lending experience, required.
• Current knowledge of loan processing and Encompass software.
• Proficient with MS Office including Word, Excel and PowerPoint.
• Must maintain industry standard training according to company policies.