Mortgage Loan Processor Job Description Sample
Mortgage Loan Processor
Mortgage Banker licensed throughout the nation is Fannie Mae, Freddie Mac and Ginnie Mae approved. Needed are processors who have DU, LP and FHA experience. Excellent salary, bonus, benefits and a positive environment. We are well capitalized and have a low Compare Ratio with all three agency approvals.
Gather information and documentation for each file by communicating as necessary with clients, loan officers, underwriters, attorneys, real estate brokers and title companies.
To complete, verify, gather and input financial data on loan applications through encompass 360
Responsible for ensuring that all loan documentation is complete, accurate, verified and complies with company policy.
Verify loan documents including income, credit appraisal, and title insurance preparing application for submittal to underwriting.
Review file documentation and make sure all items needed are requested and received.
Order and coordinate loan documents.
Review and clear all closing conditions.
Meet crucial deadlines as required.
Perform any additional duties/activities assigned by management.
Desired Skills & Experience
- High school diploma or equivalent.
- Minimum of 3 years mortgage banking experience as a processor or junior processor, required.
- Must have working knowledge of Fannie Mae/Freddie Mac, FHA/VA, Jumbo, Condo, and Co-Op policies and guidelines.
- 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.
- Familiarity with Closing Department process and flow (Closing Coordinator), able to do Pre HUD's as well as change of circumstance documentation.
- 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 corporate personnel, as well as sales and administration.
- Demonstrated judgment and decision making ability.
- Must be available to work all regularly scheduled hours; arriving at scheduled reporting time
- Must be able to work overtime, as required.
Mortgage Loan Processor
Serve clients during the mortgage loan processor, providing them the best possible experience. This is done by great communication, reviewing and preparing loan documents throughout the process. Closing on time is a must not an option.
Duties: Loan Processor
Review loan application for completeness and clarifying or obtaining additional information
Request and review the nesscessary verifications in a timely manner
Obtain any additional documentation through third party sources as needed on the file
Reviews the file to make sure all guidelines have been met
Submit a file for underwriting, goal is to get 5 conditions or less
Prepares file for closing
Must keep yourself up to date by reading updates and attending classes
Experience Required: 1+ to 2 Years, VA loans
Education Required: High School or equivalent
Senior Mortgage Loan Processor
The Senior Loan Processor is responsible taking a home loan file from submission through closing. This includes analyzing and verifying credit, income, asset, appraisal, escrow and title documentation on purchase, refinance and home equity transactions to confirm that it meets investor guidelines. With the help of a Junior Loan Processor, the processing team is responsible for directly communicating with Clients, Realtors and our Loan Officers to gather and satisfy all loan conditions and move toward a timely closing. The role requires an excellent communication skills with a drive toward meeting contingency and closing deadlines while providing exceptional customer service to all parties involved in the transaction. Key attributes to success are the ability to multi-task, time manage, precise verbal and written communication skills and a working knowledge of all major investors and their guidelines.Duties and
- Review income, credit, assets and property information against investor guidelines to ensure eligibility for the desired loan program
- Submit for loan approval and gather/review all outstanding loan conditions
- Order loan documents and coordinate with third party escrow companies for a timely closing
Prioritize and monitor daily workflow in order to ensure all loans meet contractual contingency and closing deadlines with pro-active communication to referral partners and clients in accordance with company's timeline expectations.
- Work additional hours as needed.
- Assume responsibility and ownership of the loans in your personal pipeline.
- Stay current on all investor guidelines and program changes.
- FHA/ VA experience strongly preferred.
- Current knowledge of federal and state disclosure guidelines.
- Proficiency with MS Word, MS Excel, Adobe, Desktop Underwriter and Loan Prospector.
- Technology savvy- proficient in Microsoft Outlook, Office Suite, Desktop Underwriter and Loan Prospector. Current familiarity with Encompass 360 is a plus.
- Ability to learn new systems quickly.
- Advanced ability to analyze complex tax returns to accurately calculate income for all types of borrowers.
- Demonstrate high volume productivity.
- Must be detail oriented organized and work efficiently under pressure.
- Must be a team player and work well with both Sales and Operations Staff providing utmost levels of customer service and an open line of communication.
- Strong analytical skills.
- Excellent verbal and written communication skills with a strong desire to help build relationships with Realtors and Borrowers
- Ability to problem solve and work independently
- Ability to multi-task effectively.
- Positive attitude and self-motivation are critical.
- Minimum of 3 years experience required.
Mortgage Loan Processor
This is a in office position at our Austin location daily from 8am to 5pm
The Loan Processor will gather all of the loan documentation needed to provide to the Underwriters for review, ensuring all loan documents are provided in strict accordance with investor, agency, and all applicable state and federal regulatory guidelines. Loan Processors will additionally review all documentation obtained and ensure that it corresponds directly to the loan or product type chosen by the borrower as well as review documents to determine eligibility. Conv, FHA, VA, USDA program knowledge is required.The Loan Processor will be detailed oriented and able to work independently. The Loan Processor will communicate and address all inquiries with clients, internal staff and other associated outside agencies to facilitate all processing issues in a timely manner. They are responsible for entering loan information into the loan origination system. Maintaining open communication with team members and the Processing Management Team are essential for a successful closing.
· Pull and review pipeline reports at the start of each day.
· Enter loan information into the loan origination system.
· Review new loans, order all third party documentation and send a needed items list to Borrower, Loan Officer (LO) and Loan Officer Assistant (LOA) (if applicable) within 1 business days of receiving file.
· Submit 95% of loans to Underwriting within 10 calendar days of receiving file.
· Communicate clearly and professionally with all clients, internal staff and other associated external agencies to facilitate all processing issues in a timely manner.
· Attend and participate in all required Processing training and meetings.
· Work in a fast-paced environment and successfully meet processing expectations set by management.
· Provide a high level of processing support to experienced Loan Officers requiring additional assistance on high volume of complex files.
· Other duties and responsibilities as assigned.
· Communication- Speaks effectively in individual or group situations. Ability to build positive working relationships, interact effectively and proactively with individuals at all levels in the organization. Strong written and verbal communication skills.
· Business/Interpersonal Skills – Ability and willingness to make timely decisions exercising sound and accurate business judgment. Strong negotiation skills, exhibit high energy, self-motivation and initiative in timely completion of defined goal and activities, and ability to build quality customer and client relationship.
· Problem Solving- Ability to identify and resolve problems in a timely, objective and confidential manner. Analyzes problems and information skillfully; uses logic and good judgment to reach solutions.
· Quality Management- Ability to demonstrate accuracy, thoroughness and quality.
· Planning/Organization- Ability to effectively prioritize and plan work actives, use time efficiently and meet deadlines with high level of detail and accuracy.
· Technical Skills- Must have demonstrated advanced level PC skills, including knowledge of Microsoft, Excel, Word and Outlook. Adaptability and ability to learn new techniques, products and procedures.
· High school diploma or GED Equivalent required.
· Demonstrated success working in and supporting clients in a fast-paced environment.
· Must have demonstrated PC proficiency, including knowledge of Microsoft Excel and Word.
Mortgage Loan Processor
- Review loan applications for completeness and accuracy, reconcile applications against system input
- Review file for all employment information and order all VOE’s
- Preview individual and business tax returns
- Run loan through DU and LP and update Encompass with results
- Order flood certification
- Notify loan officer and processor when loan set up is complete
- Review credit report and order all necessary mortgage credit supplements
- Gather required documentation from the customer and third parties in support of the loan approval decision.
- Submit applications to underwriting for verification and recommendation.
- Analyze income, assets, and liability documentation
- Establish long term relationships with clients and lending partners by delivering the best in customer service.
- Other duties as assigned
- Minimum 1 year processing experience
- Must be proficient in Encompass
- Excellent customer service skills, phone etiquette and must work well with others in a team setting
- Strong organizational, problem solving, multi-tasking and analytical skills
- Ability to work with deadlines.
Digital Mortgage Loan Processor
The Loan Processor position plays a critical role in the customer experience. Customers include borrowers and other third party stakeholders such as real estate agents. After completion of the loan application, the Loan Processor directs the remainder of the mortgage process as the customer’s primary liaison/key point of contact.
The Loan Processor is held accountable for effectively managing a pipeline of loans, actively working these loans through the process to closing and meeting or exceeding job performance standards including (but not limited to) closing a specified number of loans per month and meeting or exceeding specific customer satisfaction goals.
Principal Duties and Responsibilities
Scope and Impact
Loan Processors must meet or exceed job performance standards including (but not limited to) closing a predetermined number of loans per month, consistently maintaining a predetermined registration to closing conversion percentage and meeting specific customer satisfaction goals.
Therefore, Loan Processors have a direct impact on the customer experience and customer satisfaction, the quality of the loan and loan process (eliminating defects) and company profitability based on the number of loans closed each month.
Education and Experience:
Knowledge and Competencies
Do the right thing even when it is difficult. Be honest and transparent. Do what you say you are going to do. Own your action. Be aware of your impact.
Pursue greatness in your 20 square feet. Embrace change. Learn. Innovate. Share. Make it happen with speed and accuracy.
Work together. Act as one. Put team above self. Ask for help. Give help. Pay it forward.Invest the time to engage. Care. Listen.
Saturate the organization with the voice of the customer. Educate and provide insight.Actively listen. Actively communicate. Connect. Serve the customer or serve someone who does.
If you are interested in this position please apply to: https://recruiting2.ultipro.com/COA1000NOICI/JobBoard/27e8b14c-430f-4622-b859-e413c6441e17/?q=&o=postedDateDesc&f=%5B%5D
Mortgage Loan Processor
- Basic administrative duties- phone, emails, fax, filing, etc.
- Provides related customer service
- Responds to loan inquiries
- Orders verification information and appraisals
- Performs other loan processing assignments as directed
- Professional phone etiquette
- Written and verbal communication
- Proficient with Microsoft Excel and Word
- Excellent time management skills
- Strong organizational skills
- Detail oriented
- Must be able to work in a heavy volume and high stress environment with constant change
- Ability to work effectively with others
- Previous loan knowledge/experience is a plus
- Working knowledge and understanding of mathematical functions: balance, debt and credit; ability to read and understand Freddie Mac rules and regulations for mortgage transactions is a plus
Full Time: Monday-Friday 8:00-5:00
Start Date: 02/19/2018
Projected End Date: 03/30/2018
Job Types: Full-time, Temporary
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Mortgage Loan Processor
About 1st Rate Home Mortgage, Inc:
1st Rate Home Mortgage, Inc. is a multi-state residential mortgage banker. Founded in 2007 and focused on client experience. Our dedication to superior service is second to none. We are a high volume, fast pace mortgage firm and require our staff to keep up. We take great pride in providing our staff with all the necessary tools to be the most effective and efficient in the industry. Our staff is given continued training for ongoing career development. Investing in our people is an investment in our future. 1st Rate is not a huge corporate giant, and nor do we want to be one. Instead, we focus our efforts on always putting our clients and staff before the bottom line.
Summary of Position:
The position of loan processor plays a key role at our firm. You will be responsible for effectively processing mortgage loans from submission to funding. The processor must be extremely detail oriented, somewhat of a perfectionist who takes pride in his/her work. You will be expected to demonstrate positive customer service to loan officers, borrowers, vendors etc. As the processor on a transaction, you will need to ensure all necessary documents are in the file prior to underwriting submission. Understand our processes and guidelines. Timeliness is key in succeeding in this position. You will need to be a master at prioritizing your day, week, and month. Most importantly you MUST have fun doing all this as positive energy is the key ingredient to any successful venture.
Responsibilities and Duties
- Verify completion of loan application, product guidelines, and compliance with federal and state requirements.
- Order the required documents to submit to underwriting (prelim, payoff, insurance, case numbers, LDP/GSA etc.).
- Perform quality control check on the file to ensure smooth flow through underwriting
- If necessary, run automated underwriting (DU/LP).
- Verify income figures used in the file for qualification.
- Upload the file to underwriter using web based system.
- Obtain all necessary conditions as requested by underwriter.
- Order appraisals, review appraisals.
- Order tax transcripts, review transcripts.
Qualifications and Skills
- 2+ years of experience processing mortgage loans with a mortgage broker or correspondent lender.
- Proficient with FHA, VA, and conventional guidelines.
- Proficient with AUS (LP and DU)
- Working knowledge of Encompass Software.
- Comfortable with income calculations using income docs (pay stubs, W2s, tax returns etc.)
- Excellent communication skills – written, verbal, and phone.
- Ability and willingness to mentor trainees – you must be a team player.
- Comfortable with Windows products.
- Fast typing (40 wpm+)
- Focused on solving problems, not transferring liability when a problem is discovered.
- Ability to multi task.
Mortgage Loan Processor
This position and office are located in Redmond, OR
We are seeking a Loan Originator to become a part of our team!
We are a small Team in Redmond looking for someone that has extensive training in the mortgage industry. We would even consider hiring someone that would work remotely. Being licensed is not a requirement for hiring but preferred and must be able to obtain within 6 months of hire
- The position has the responsibilities of a loan officer without the risk/responsibility of finding the client
- Advise borrowers on financial status and payment methods
- Guide customers through the loan application process
- File loan applications and supporting documents
- Develop referral networks to locate prospects for loans
- Handle customer complaints and take appropriate action to resolve them
- 2+ years of mortgage experience as a loan officer or processor
- We need someone who knows how to put together the perfect loan file and deliver an amazing experience
- Previous experience in finance, banking, or other related fields
- Familiarity with financial and lending practices
- Ability to build rapport with clients
- Strong analytical and mathematical skills
- Excellent written and verbal communication skills
- Must be well organized,
- Team oriented, and wanting to be part of a winning culture!
We have fun. We work HARD and we serve our clients. We offer competitive pay, bonus,401K and paid holidays along with medical, dental, and vision.
This person would be a salaried, full-time member of our team
Residential Mortgage Loan Processor For Bergen County Mortgage Banker
Approved Funding, a Mortgage Banker and Direct Lender, is looking for a full time RESIDENTIAL LOAN PROCESSOR for its River Edge, NJ office. Candidate must have recent experience as a Residential Mortgage Processor and should have excellent communication skills, be detail oriented, have the ability to multi-task and must be highly organized.
This position is for Full Time, In-House employees ONLY.
AFC offers a competitive compensation & benefits commensurate w/ experience, and an extremely friendly 'team oriented' work environment.
• Review all mortgage applications and documentation for Quality - accuracy and completeness.
• Work with compliance team to ensure Federal, State, and local compliance of all mortgage and loan materials.
• Having knowledge of Conventional & FHA loans;
• Process AUS (i.e. DU & LP) and 3rd party systems on a timely basis and package for Underwriting for approval.
• Work with LO's and Manager in a friendly office environment.
Candidate MUST have Mortgage Processing experience!
Approved Funding is an equal opportunity employer/lender, licensed by the CT/FL/NJ/NY/PA/IN/IL Banking Departments.
Please email resume or for more info, visit us on the web @ www.approvedfunding.com/careers
Approved Funding offers all Residential loans: Conventional, Jumbo, FHA/VA, Niche, Portfolio Bank, Specialty Real Estate Lending, as well as Multi-Family & small Commercial loans.
Our motto has always been Service, Integrity & Passion with a focus on Retail lending for our local footprint. Our current/past Clients & professional networks are our biggest fans and referral base.
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