About the position
The Mortgage Loan Processor 2 is a critical customer facing position that performs a wide range of duties related to the processing and pre-underwriting of residential mortgage loans. Duties are both file and vendor level in nature. Maintains regular contact with both external and internal customers to ensure workflow deadlines are met. Assumes responsibility as the point person and coordinates processing the loan file from receipt in Fulfillment until submission to Closing. Proactively communicates status on the loan to borrowers and loan officer and maintains contact with external and internal partners to ensure expected closing deadlines are met. Primary responsibilities include reviewing and verifying loan documents including W-2 income, IRS tax returns, self-employed borrower income, assets, credit, appraisal, condo certification, homeowner's insurance, title insurance, etc., and ensuring the information is complete, accurate and complies with underwriter and program details. Must be able to communicate clearly and effectively with multiple people, multitask, work in a team environment, and manage an assigned pipeline. Exceptional attention to detail - the right candidate must be organized, able to multitask and have excellent time management.
Responsibilities
- Processes FHA, VA, Conventional, and Jumbo loans
- Financial Analysis - Knowledge of and ability to read, interpret and draw accurate conclusions from financial and numerical material.
- Verify and analyze loan documentation including credit reports, income, asset, appraisal, title, homeowner's insurance documents - as well as general ways to structure a loan
- Ensures a minimum level of documentation (e.g., credit worthiness, analyzing income and asset data) is submitted prior to delivering a loan file to Underwriting for review utilizing fraud and compliance tools, review alerts and clear conditions
- Demonstrate working knowledge of federal and state guidelines, rules and regulations such as RESPA, TILA, HMDA, etc.
- Update fees based on the preliminary Closing Disclosure, corrected documents, and loan change requests and ensure any changes which require redisclosure have been accurately notated and checked in the loan origination system for compliance purpose
- Organizes and uploads documents to the image system, validating what has been provided and indexing items into the appropriate folders.
- Nurture a pipeline of loans maintaining timely and compliant flow to meet internal and external service level agreements
- Prioritize and monitor daily workflow in order to ensure all loans are being worked on in accordance with expected timelines
- Effective communications - Understanding of effective concepts, tools and techniques; ability to effectively transmit, receive and accurately interpret ideas and information
- Contact borrowers to collect required documentation and be a liaison between origination, underwriters, relators, and borrowers.
- Work closely with our Loan Officers and Personal Production Assistants to ensure a timely and accurate experience of the customer throughout the mortgage process.
- Interact with mortgage professionals to obtain information from the borrowers or to seek clarification about documents in the loan files
- Manages an average pipeline of loans within assigned operations center
- Performs other duties as assigned.
Requirements
- High School Diploma/GED
- Minimum of 1 year of demonstrated residential mortgage processing or previous experience fulfilling the roles of Processor, Loan Officer Assistant, Loan Officer, Closer, or equivalent mortgage operations position.
Nice-to-haves
- Bi-lingual Spanish
- College degree
- Current working product knowledge of FHA, VA, Conventional and other loan programs such as Jumbo, Portfolio, construction to permanent, down payment assistance and bond programs.
- Experienced in automated underwriting to include Fannie/Freddie (CONV/FHA/VA/RD)
- Self-motivated, self-reliant person who can succeed in a remote position, working from home
- Excellent disposition, mindset, communication skills and work ethic
- Ability to multi-task with strong attention to detail while meeting deadlines in a fast-paced environment
- Strong listening and problem-solving skills
- A commitment to integrity and customer service
- Demonstrate working knowledge of federal and state guidelines, rules and regulations such as TRID and Reg B
- Ability to analyze income and tax forms accurately and calculate income for all types of borrowers
- Strong knowledge of mortgage procedures, processes, and documentation
- Able to work independently on processing various loan applications
- Able to prioritize in order to meet loan closing deadlines
- Familiarity with Microsoft, mortgage, and banking applications/software.
