Mortgage Loan Processor

We are currently seeking a detail-oriented and highly organized Forward Mortgage Loan Processor to join our team. The successful candidate will play a critical role in ensuring the smooth and efficient processing of loan applications. This position requires a thorough understanding of the lending process, strong analytical skills, and the ability to work effectively in a fast-paced environment.

Key Responsibilities:

>Gather all necessary documentation from borrowers, including income documents, bank statements, asset information, mortgage statements, homeowners’ insurance, exit strategy, and business use of proceeds.
>Complete the Lending Pad/La Jolla Capital Bank portal and perform a soft credit pull.
>Notate current mortgage loans, interest rates, and payments.
>Review the income documentation provided and make detailed notes.
>Examine bank statements or retirement accounts for reserves.
>Review the credit report, notating FICO scores, mortgage lates, past due accounts, charge-offs, and bankruptcies.
>Pull the property profile from Chicago Title.
>Examine the purchase history of the property, owner details, and title information.
>Confirm that mortgage statements align with the chain of title.
>Investigate any unreported liens not found on the credit report.
>Analyze property valuations from various online sources such as Zillow, Redfin, Upgrade to see actual info, and UWM.
>Document the value from each source.
>Research the property's market status in the last 6 months and assess its location using Upgrade to see actual info for crime, unemployment, and population growth.
>Calculate and review the borrower's income.
>Examine tax returns for self-employed income.
>Compute W2 and any retirement income, including Social Security, pension, and annuities.
>Complete income worksheets and input data into the Loan Origination System (LOS).
>Determine how the borrower qualifies for the loan.
>Consider income qualification, especially for exiting the loan in 12-24 months.
>Evaluate Loan to Value (LTV) for risk assessment.
>Review the borrower's goals provided by the Relationship Manager or notes from the loan file.
>Confirm if the borrower intends to use the loan for debt consolidation or business expansion.
>Assess the borrower's Debt to Income (DTI) after paying off debt.
>Ensure that all primary residences have a documented business purpose.
>Adjust the loan file as needed, including paying off debt or bringing the first mortgage current.
>Analyze the borrower's DTI with their current income.
>Determine if they qualify for another HELOC to refinance the private money loan.
>Assess credit score requirements.
>If it's a first mortgage private money loan, explore refinancing options.
>Consider factors such as self-employment, bank statement programs, deposit consistency, and expenses.
>Evaluate the borrower's ability to qualify for a refinance with lower DTI.
>Examine the type of business operated by the borrower.
>Ad hoc tasks from the client.

Requirements & Qualifications:
>High attention to detail and strong organizational skills.
>Proficient in financial analysis and documentation review.
>Familiarity with Loan Origination Systems (LOS) and mortgage processing software.
>Excellent communication and interpersonal skills.
>Ability to work effectively in a fast-paced environment.
>Minimum of 2 years of experience in mortgage loan processing.
>Knowledge of current federal and state regulations governing mortgage lending.
>Undergo 3 days of paid training. If there's an urgency for the role, the new hire must render an hour of paid OT before or after the shift for 3 weeks.
>Amenable to work Monday through Friday either 8 AM to 12 NN or 1 PM to 5 PM Central Standard Time.

Next steps:

As part of our hiring process, we kindly request you to complete a DISC personality test before your scheduled interview. This test will help us better understand your personality and ensure alignment with the requirements of the position.

Please take the test using the following link: Upgrade to see actual info/disc-personality-test/

Once completed, kindly send us the results at your earliest convenience. This will allow us to proceed with your interview smoothly.

Please submit the result of the DISC personality test and an updated copy of your RESUME to this email: Upgrade to see actual info
Subject line: Mortgage Loan Processor
Ensure that the resume is in PDF format.
Do not forget to provide a link to your profile on Onlinejobs.ph