Mortgage Loan Processor

About the position

We are seeking a Mortgage Loan Processor to take ownership of residential mortgage loan files and fulfill the requirements necessary to advance them to closing. This person will play a key role in obtaining, reviewing, and assembling documentation, as well as preparing and submitting files. The ideal candidate has a demonstrated track record of providing exceptional customer service to both internal and external partners. The ideal candidate can also effectively communicate with borrowers to set proper customer expectations, ensure smooth closing, and resolve issues with a strong sense of urgency.

Responsibilities

• Fund 25 brokered first mortgages or 50 brokered second mortgages at a time.
• Process loans to meet purchase contract deadlines and rate-lock expiration dates.
• Review new files within 48 hours of receipt, verifying compliance documents were issued within the required time frame.
• Prioritize and monitor daily workflow to ensure all loans are being processed in a timely manner.
• Use documentation to perform functions, such as calculating verified income or verifying assets, and update internal and external software programs (e.g. Encompass) accordingly.
• Review and track all necessary documents in internal and external software programs (e.g. Encompass).
• Communicate with customers and loan officers about status updates and/or changes made to loans.
• Proactively identify and address potential loan challenges.
• Be resourceful to overcome loan challenges, rectify issues, and research red flags.
• Note and record necessary and critical changes in internal and external software programs (e.g. Encompass).
• Prepare loans for underwriting and closing.
• Clear approval and/or suspense conditions as identified by the underwriter or closer.
• Assist with clearing of post-closing conditions to avoid financial loss.

Requirements

• Bachelor's degree-or equivalent work experience.
• Thorough understanding of relevant federal rules and regulations (e.g. RESPA, TILA, ECOA, TRID, CFPB).
• Thorough understanding of the underwriting process and agency requirements.
• Previous experience with relevant technology (e.g. DU, LP, CRM).
• Strong written communication skills.
• 3+ years of mortgage processing or underwriting experience.
• 2+ years of experience with Encompass.
• 2+ years of vendor management experience with regard to third-party services.
• Knowledge of state lending laws and regulations.
• Experience using government sites for VA and FHA files to place orders and obtain case numbers.

Benefits

• Competitive salary and a 401(k) plan-with a 4% annual match!
• No weekends or late nights required!
• 17 days of paid time off, 5 additional paid sick days, and 11 paid company holidays!
• Comprehensive, low-cost medical, dental, & vision benefits, and an EAP for additional support!
• In-office snacks and drinks (and Bagel Fridays)!
• Company-wide New Hire Orientation and other learning and development opportunities including quarterly possibilities for promotion and annual performance reviews.
• Birthing and non-birthing parents receive 12 weeks of FULLY PAID time off to focus on their new addition(s)!