Mortgage Loan Processor
Job Type: Full-time
$50,000.00 - $60,000.00 Annually with bonus structure
Job Requirements and experience:
- 401(k) + Matching
- Dental Insurance
- Health Insurance
- Vision Insurance
- Life Insurance
- Paid Time Off
Full Job Description
Loan Processor -
- Mortgage Loan Processing, Minimum 3 Years (Required)
- Encompass LOS experience Minimum 3 Years (Required)
- Current residential processing experience. Minimum 3 Years (Required)
- Sound judgment and decision-making ability.
- Working knowledge of RESPA regulations and general knowledge of all mortgage and consumer lending regulations, including but not limited to Regulation Z and Regulation B requirements and loan documents preferred.
- Available to work varying hours and overtime if needed.
- Strong math and analytical skills.
- Must be proficient in DU/DO, LP, and major Originating systems.
- Must have excellent verbal and written communication skills.
The Mortgage Loan Processor is responsible for providing quality customer service and processing loans in a timely and efficient manner. The Mortgage Loan Processor will work directly with the Loan Officer and team to facilitate documents, as needed, for loan submission into Underwriting and then to Closing. The Mortgage Loan Processor provides proper disclosures when required by applicable local, state, and federal regulations.
Responsibilities of the Position:
- Review new loan submissions from Loan Officer within 48 hours of receipt.
- Perform a thorough analysis of borrower’s credit, employment, income, and assets as required by the loan program before submitting to underwriting.
- Review loans for compliance with all mortgage-related regulations (RESPA, TIL, HMDA, Reg. B, etc.) and prepare the required disclosures.
- Request any additional items needed from the borrower to complete the loan.
- Communicate with various companies to obtain Property Survey, Flood Certificate, Title Commitment, and payoff information.
- Order and receive VODs, VOEs, appraisal, title, etc. as appropriate.
- Input final information as validated in Encompass and rerun AUS, as applicable, for final loan submission.
- Submit loan to Underwriting within 24 hours of receipt of documents, as needed, for a complete loan file to obtain a clear loan approval.
- Submit all documents needed to draw closing documents within 72 hours of closing.
- Ensure closing instructions and documents have been released to title 72 hours before closing, ensuring a CD is issued to Loan Officer or team 48 hours prior to closing.
- Submit complete files to Underwriting based on Investor and/or AUS requirements. Clears any conditions that require communication to the title companies, appraisers, employers, surveyors, etc.
- Coordinate submitted files to Underwriting & Closing to meet file expectations.
- Communicate loan approval from underwriting.
- Place detailed comments in the conversation log every time a file is handled.
While performing the duties of this job, a person is regularly sitting in a standard office environment, at a desk, using a computer, phone, fax, and copy machine. This person may occasionally need to lift up to 20 pounds.
Our client is an Equal Opportunity Employer committed to workforce diversity. Qualified applicants will receive consideration without regard to race, religion, color, orientation, gender, age, national origin, veteran status, disability status or marital status. Employment is contingent upon successful completion of a background investigation.
This Job Is Ideal for Someone Who Is:
- Dependable -- more reliable than spontaneous
- Detail-oriented -- would rather focus on the details of work than the bigger picture
- Achievement-oriented -- enjoys taking on challenges, even if they might fail