Based on experience and productivity
Sep 30, 2022
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We are looking for an experienced loan processor to join our tight-knit group of mortgage professionals. The successful applicant will have years of experience in loan processing, excellent attention to detail, and a skilled approach to customer service to help our borrowers navigate the mortgage closing process. We provide the opportunities, the team, and the growth potential to help you achieve your career goals. If this sounds like the ideal job for you, please apply today!
Location: Virtual Position, working from home with internet
Loan Processor Responsibilities
Serve as the main point of contact for escrow/title companies, real estate agents, mortgage loan officer/ mortgage loan originator, borrowers, and mortgage underwriters to facilitate a timely loan closing.
Obtain and verify that all loan documentation, such as title insurance, appraisals, loan applications, credit reports, and income and asset declarations are accurate and provided promptly to underwriters for loan approval
Order third party documentation and reports for residential home loans, create and maintain the mortgage loan file, and assist in clearing underwriting conditions as requested
Input loan file documentation accurately into necessary software programs
Ensure that all loan files, credit packages, and disclosure packages comply with company lending policies, as well as state and federal lending guidelines
- input and balance the fee sheet
- Provide Advantage Credit Report or Funding Suite Credit Report (Will train you)
- Choose Program/Lender for submission
- Lock loan with Lender
- Communicate and provide any additional documentation needed from the borrower
- Prepare and Approval of final Fee Sheet for closing
- Download/Input loan in Calyx/Point, UWM Blinks, Lending Pad or other loan origination system LOS.
- Review initial file received for credit, income, assets, liabilities, debt income ratios, etc. and advise of any concerns to LO.
- Order any required VOE's, VOD's, VOM's or VOR's
- Order appraisal
- Order Title Commitment, EOI, etc.
- Once we have complete package, submit to lender of your choice
- Track the underwriting process.
- Once approved with conditions, we work to obtain necessary documents to clear all bound conditions before funding.
- Once clear to close is received, lock in loan rate and review of Fee Sheet for your completion/approval
- Schedule closing between the Lender, Title/escrow Company, and borrower
- Closing disclosures CD will be reviewed against Fee Sheet for accuracy and then sent for approval
- Verify the closing documents are received at the Escrow/Title Company prior to closing and then verify that the funding/closing was successful
Loan Processor Qualifications
Bachelor’s degree preferred; high school diploma required
2-3 years experience with a mortgage company, mortgage banker, or mortgage lender as a mortgage loan processor is preferred
Working knowledge of the mortgage industry, specifically federal and state regulatory requirements are essential
Solid knowledge of various residential mortgage loans such as Conventional, FHA, VA, and/or USDA loans is vital -- Commercial loan and Refinance loan knowledge is helpful
Exceptional time management, attention to detail, customer service, and communication skills both written and oral are necessary
Proficiency with MS Office, Loan Origination Software (LOS), and Automated Underwriting System (AUS) are desired, Calyx point, Encompass, Blink+, UWM pipeline, Lending Pad,
Compensation based on experience with market base salary plus merit