Senior Mortgage Loan Processor

About the position

The position involves reviewing and inputting incoming documents into the Mortgage Loan Operating System (LOS), verifying residential loan application files, and ensuring compliance with established standards. The role includes rerunning the Automated Underwriting System (AUS), recommending loan denials, and obtaining necessary property documents. Additional responsibilities include reviewing appraisals, assembling electronic files, and preparing documentation for closing. The position requires attention to detail and the ability to communicate discrepancies effectively.

Responsibilities

• Reviews and inputs incoming documents (i.e. VOE, VOD, credit, etc.) into Mortgage Loan Operating System (LOS)
• Reviews residential loan application file to verify that application data is complete and meets establishment standards
• Reruns Automated Underwriting System (AUS) to ensure same automated decision is applicable
• Recommends that loan not meeting standards be denied
• Calls specified companies to obtain property abstract, survey, and appraisal if needed
• Determines if appraisal is to be ordered and what type
• Reviews appraisal for errors and meets underwriting criteria and notifies lender of any discrepancies
• Informs supervisor of discrepancies in title or survey
• Assembles file in electronic imaging system and reviews for completeness and accuracy
• Notes the estimated closing date and type of transaction
• Reads notepad for pertinent information not obvious in file, identifies missing items and notifies appropriate party
• Orders updates to credit report
• Requests needed documentation not previously requested
• Reconciles LOS and AUS
• Gathers all required documentation prior to closing and resubmits for final approval
• Submits mortgage loan application file for underwriting approval
• Orders flood determination
• Types and mails approval and denial letters to applicants
• Confirms closing date and location of closing
• Sends out construction package if necessary to branch lenders
• Prepares closing sheet and sends file to closing department for settlement
• Notates denial or withdrawal status in LOS and prints appropriate package
• Submits denied files to underwriting for review and signatures
• Reconciles fees to determine if funds are missing
• Records data on status of loans, including number of new applications and loans approved, canceled, or denied

Requirements

• High school diploma or general education degree (GED)
• Four to six years related experience and/or training; or equivalent combination of education and experience

Nice-to-haves

• Bachelor's degree
• Four to six years related experience and/or training
• Experience in mortgage lending or similar financial experience and/or education