Mortgage Loan Processor

The Mortgage Loan Processor is responsible for processing and managing a pipeline of 40-55 residential mortgage loans. The Loan Processor is the main point of contact for the borrower from loan application through funding.

The Incumbent must be knowledgeable in the overall loan process and must have a general understanding of Fannie Mae, Freddie Mac and other investor guidelines.

Role and Responsibilities

Review and evaluate loan file documentation including AUS findings, credit reports, preliminary title reports, flood certifications, appraisals and income and asset documentation prior to forwarding the file to underwriter

Determine any issues that may need to be addressed with the borrower for clarification

Ensure all necessary documentation is requested to support final loan decisions

Issue (mail or email) the Conditional Letter of Approval (CLA) or Notice of Incomplete (NOI) letter to the borrowers within the established Service Level Agreement (SLA)

Act as primary contact for borrower to follow-up on all underwriter directed and compliance related conditions

Review pipeline daily to follow up on all aging loans and expired CLAs or NOIs

Maintain communication with manager and loan agent regarding the status of loans that are stagnant or not moving through the pipeline in a timely manner

Review and update conditions in preparation to submit the loan file to Underwriting for final approval

Research and follow-up on outbound calls

Other projects assigned by management

Cross train with various channels (Retail, Third-Party Origination and Consumer Lending)Quickly and efficiently move file through loan stages.

Take corrective actions when file is stalled in a process

Communicate frequently with Supervisor and Manager on status of pipeline and any potential issues

Perform and document telephone calls made to borrower to update the borrower on status, missing items, and any outstanding questions

Educate the borrower on the loan process, expected turn times, and communications they will receive

Communicate and coordinate with internal and external customers including but not limited to Title companies, Escrow companies, Realtors, City Officials, Employers, and various internal departments

Complete reports for management

Train and mentor new employees

Navigating and updating the information in the Lending Operating System

Facilitating customer-centric behaviors and a superior customer experience for both internal and external customers

Keeping apprised of changes in Investor, Regulatory and Bank guidelines; integrating changes into daily processes

Verifying accuracy and completeness of loan files

Minimum Qualifications

Minimum 2-3 years€™ experience in a mortgage loan processing environment

High School Diploma / GED

Excellent verbal and written communication skills with strong attention to detail

Excellent analytical and problem solving skills

Ability to work accurately and efficiently in a fast paced environment

Ability to handle competing priorities effectively and within established timeframes

Excellent interpersonal skills and positive attitude

Prior customer service experience in a mortgage environment is required

Experience working with a computer environment, including working knowledge of Microsoft Office and Microsoft Windows

Demonstrated ability to work well under pressure

Must meet the Consumer Financial Protection Bureau loan originator qualification

Knowledge working with automated underwriting systems (DU / LP) is preferred but not required

Bi-lingual a plus

Knowledge of FNMA, FHLMC, and other investor lending guidelines preferred

Knowledge of Loan Origination System such as Empower a plus

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