Non-QM Processor
IMB is seeking an experienced Non-QM Mortgage Processor to join our Operations team. The ideal candidate will have a strong understanding of Non-QM lending guidelines and be responsible for managing mortgage loan files from application through closing. This individual will work closely with Loan Officers, Underwriters, Account Executives, borrowers, and third-party vendors to ensure loans are processed accurately, efficiently, and in compliance with investor and regulatory requirements. Essential Duties and Responsibilities
- Review new loan files for completeness and accuracy.
- Analyze loan documentation and identify any missing or outstanding conditions.
- Process a variety of Non-QM loan products, including but not limited to:
- Bank Statement Loans
- DSCR (Debt Service Coverage Ratio) Loans
- Asset Depletion Loans
- P&L Loans
- Foreign National Loans
- ITIN Loans (if applicable)
- Collect and review income, asset, credit, and collateral documentation.
- Calculate income using Non-QM guidelines and investor overlays.
- Order and review third-party services, including:
- Appraisals
- Title work
- Flood certifications
- Verifications
- Communicate regularly with borrowers, Loan Officers, Account Executives, and third-party vendors regarding loan status and required documentation.
- Submit complete loan files to underwriting.
- Review underwriting decisions and clear conditions promptly.
- Ensure all compliance, TRID, federal, state, and investor requirements are met.
- Coordinate with Closing and Funding departments to ensure timely loan closings.
- Maintain accurate loan documentation within Encompass.
- Meet established turn-time, quality, and customer service expectations.
- Stay current on Non-QM investor guideline updates and regulatory changes.
Qualifications
- Minimum 3 years of mortgage processing experience, with at least 2 years processing Non-QM loans.
- Strong understanding of Non-QM underwriting guidelines and documentation requirements.
- Experience processing multiple investor programs.
- Proficient in Encompass Loan Origination System.
- Knowledge of TRID, RESPA, TILA, ECOA, and federal mortgage regulations.
- Ability to calculate complex income scenarios.
- Strong organizational and time-management skills.
- Excellent verbal and written communication skills.
- Detail-oriented with the ability to manage multiple files simultaneously.
- High level of professionalism and customer service.
Preferred Qualifications
- Experience working for an Independent Mortgage Banker (IMB).
- Familiarity with investors such as Deephaven, Angel Oak, Acra Lending, Carrington, Champions Funding, and other Non-QM investors.
- Experience processing Conventional, FHA, VA, and Jumbo loans is a plus.
- NMLS knowledge is preferred.
Skills & Competencies
- Strong analytical and problem-solving abilities
- Excellent attention to detail
- Ability to prioritize workload in a fast-paced environment
- Strong interpersonal and relationship-building skills
- Ability to work independently while collaborating with cross-functional teams
- Commitment to providing exceptional service to borrowers and internal partners