The Loan Processor takes ownership of Residential Mortgage loan files after Origination and works to fulfill the requirements to advance them to Closing.  This includes obtaining, reviewing, and assembling documentation, along with preparing and submitting files.  Loan Processors work closely with Customers, Loan Officers, and both internal and external partners providing a high level of service in a professional manner.

Key Responsibilities: 

Review new files within 48 hours of receipt and verify that compliance documents were issued within proper time frame. Notify the appropriate staff member if additional documentation or information is needed.
Maintain a pipeline of 25 or more loan files
Order all necessary documents to satisfy AUS findings, investor and agency requirements.
Verify, Review and track all requested documents in Encompass.
Review documentation received within 24 hours of receipt and follow up in the event of discrepancies or omitted data.  During documentation review, if any discrepancies are identified immediately notify Loan Originator or appropriate team member.
Use documentation to perform functions, such as calculating verified income or verifying assets, and update Encompass accordingly.
Review, organize and prepare loan for underwriting submission.
Clear any approval or suspense conditions as outlined by the underwriter, or closer.
Ensure that all appropriate closing documentation is in the loan file (i.e. title documentation, homeowners’ insurance & third-party invoices). Documents are to be reviewed within 24 hours of receipt and communicated with Loan Originators.
Loans are to be processed to meet purchase contract deadlines and rate lock expiration dates.
File submitted to closing department upon obtaining CTC – approval milestone.
Assist other processors, Underwriters and Closing departments as needed.
Respond to customer inquiries and other related parties on a transaction as determined by Loan Originator.
Assist with the clearing of post-closing conditions received to avoid any financial loss.
Knowledge of current state's regulatory lending laws and requirements.
Experience using Government sites for VA and FHA files to place orders and obtain case numbers.
Maintain a focus on enhancing customer service skills and knowledge.
Ensure KPI’s are met set forth by the branch manager or corporate processing manager.
Maintain quality and data integrity of all loan files.
Perform other duties as assigned.

Requirements

High School Diploma or Equivalent
Knowledge of Freddie Mac, Fannie Mae and FHA/VA guidelines
Knowledge of general federal and state mandated consumer disclosure requirements
Familiarity with automated underwriting technology i.e., Fannie Mae Desktop Underwriter and Freddie Mac Loan Prospector
Proficient in data entry and management
One (1) to Three (3) years recent loan processing experience in the mortgage industry required
Familiarity with TILA / RESPA Integrated Disclosure (TRID)
Sound judgment and decision-making skills
Ability to work under pressure and meet deadlines with minimal supervision
Excellent customer service skills
Excellent organizational skills
Experience using Encompass
Timely communication and response times according to department standards
English preferred, Bi-Lingual (English/Spanish) desired.