Loan Processor III
Job Description:
- Process and pre-underwrite conventional, FHA, VA and Bond mortgage loans for compliance with Company, investor and government standards
- Achieve production and quality metrics
- Serve as liaison between loan officer, borrower, underwriter and funding
- Prepare and review loan files for completeness, supporting documentation and underwriting/investor compliance
- Monitor loan processing cycle time and resolve issues that could delay closing
- Analyze loan-to-value ratio, debt-to-income ratio, credit reports, applications, income, assets and down-payment sources to identify fraud or misrepresentation
- Order and review third-party documentation including credit checks, title reports, appraisals, tax returns and employment/assets verifications
- Stay current with federal and state regulations, policies and industry trends
- Check ratios and verify AUS findings and program applicability
- Review documentation integrity and submit loan files to underwriting
- Identify qualifying and program issues and restructure loans as needed
- Provide program options and recommendations within guidelines
- Update and verify system data
- Obtain and verify clearance of underwriting conditions and prepare files for Closing
- Order generation of loan documents
- Coach and guide less experienced Processors
- Compose professional correspondence and emails using templates
- Provide status updates to Loan Officers and borrowers
Requirements:
- High school diploma or equivalent required
- College courses or technical training related to Business, Finance/Accounting, Legal, or related field preferred
- Five or more years of experience as a Loan Processor
- Preferably experience processing conventional and FHA loans
- At least two years of experience processing VA and Bond mortgage loans
- Expert knowledge of mortgage lending processes, controls, and federal, state and regulatory requirements
- Expert knowledge of conventional, FHA, VA and Bond mortgage products, program guidelines, approval conditions and investor guidelines
- Expert knowledge of new construction documentation and condominium projects
- Expert knowledge of documentation for consumer mortgage applications, including complex tax returns, financial statements, income and deposit verification
- Ability to evaluate facts and data, draw conclusions and assess downstream impacts and risks
- Ability to prioritize multiple tasks in a deadline-driven, metrics-driven environment
- Excellent verbal, written, interpersonal and customer service skills
- Intermediate math skills
- Strong attention to detail and organization
- Experience with internal data entry systems, Microsoft Word, Excel and PDF/Document Retention programs
- Proficiency in Microsoft Office Suite, Word, Excel, Wiki, collaborative cloud-based programs and third-party software applications
- Ability to exercise independent judgment and discretion
- Ability to provide guidance to less experienced team members
- Ability to use a computer keyboard and mouse frequently
- Ability to accurately interpret audio and visual information
Benefits:
- Medical insurance
- Dental insurance
- Vision insurance
- Life insurance
- AD&D
- LTD
- 401(k) with employer match
- Eligibility for incentive compensation
- Pleasant work environment
- Competitive compensation
- Remote work arrangement