Position Overview:
The Loan Processor is responsible for providing quality customer service by obtaining necessary documentation to underwrite the loan and ordering third party documentation by communicating directly with the customer and/or loan officer in a professional and effective manner. The Loan Processor provides proper disclosures when required by applicable local, state, and federal regulations.
Job Responsibilities:
- Perform a thorough review and analysis of borrower’s credit, employment, income and assets as required by the particular loan program before submitting to underwriting
- Assemble the complete loan package in proper order for underwriting
- Verify all required documentation (pre-underwrite) in the file
- Complete the required loan checklist
- Verify that an application is complete and accurate; and
- Identify any potential issues that may arise in underwriting
- Prepare a loan approval summary, Forms 1008 and 1003, and ensure the accuracy of all the information printed on those documents. Communicate directly with the Loan Originator, customer, and underwriter to obtain initial and any missing documentation required to qualify for the loan
- Review loans for compliance with all mortgage-related regulations (RESPA, TIL, HMDA, Reg. B, etc.) and prepare required disclosures
- Communicate with various companies to obtain Property Survey, Flood Certificate, Title Commitment, and payoff information
- Verify that vendor orders are complete, invoices received, and in the applicant’s efile
- Manage pipeline by completing and submitting reports within allotted turn-around times.
- Assist set-up of loans
- Document all communication related to the loan application in the conversation log.
- Train and help supervise new loan processors and other processing personnel
- Assist closing, secondary marketing, and loan servicing to obtain and clear outstanding suspense items from CrossCountry Mortgage, LLC. investors
Qualifications and Skills:
- High School Diploma or equivalent
- A minimum of 3 years of current residential mortgage processing experience
- 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
- Strong math and analytical skills
- Excellent written and verbal communication skills
- Ability to prioritize and meet deadlines.
- Available to work varying hours and overtime if needed
- Encompass experience
- Computer Knowledge (DU, LP, Microsoft Office & Windows)