Loan Processor

Position Summary:
Prepares and processes mortgage loan records, files and correspondence from application through approval. Assures compliance with investor guidelines and customer service standards. Communicates with customers, internal staff, brokers/investors, title companies, etc. to respond to inquiries, resolve problems and obtain all necessary documentation required for the file. As a Senior Loan Processor, the essential functions of your job include, but are not necessarily limited to, the following:

Essential Duties & Responsibilities:

• Entering prospective new loan applications into the loan origination system ordering credit reports, appraisals, escrow instructions, and preliminary title reports; verifications, and any other item required on the loan files.
• Reconciling and organizing all application information received and checking items for qualification; provide status updates, discussing any problems/concerns that may surface relating to credit verification inadequacies, omission of critical documentation, etc., with processors, underwriters, loan officers and/or supervisor in order to achieve resolution.
• Contacting necessary parties for any items still missing, which may include sending applicant an Incomplete Loan Application letter and/or calling applicant directly for necessary items or clarification; advising operations manger and loan officer of any problems that are perceived in completing the package in a timely manner.
• Ensuring that all files submitted to underwriting are complete, stacked properly, tabbed as appropriate and easy to navigate through and understand, allowing the underwriter to complete an evaluation of the file in a timely manner.
• Reviewing the completed loan files to ensure accuracy, compliance with loan commitment and instructions.
• Preparing all paperwork necessary and communicating status of loan documents, fundings and pre-funding loan conditions to all interested parties including escrow, title, brokers, agents, etc.
• Auditing a variety of records and documents for accuracy, completeness and consistency; may maintain some files and records.
• Following the flow of the file through the entire system, from initial receipt through funding, to ensure everything is being handled in a timely expeditious manner. May step in to assist in the resolution of any problems that develop throughout the process.
• Preparing all cancelled or declined loan files for the operations manager for quality control and file retention as needed.
• Performing related duties and special projects as assigned.
• Resolving any problems and conditions on files.

Experience: Minimum 3 years loan processing and closing activities with prior managerial experience.
Education: High School Diploma or GED equivalent, Associate Degree preferred.

Required Skills:

• Ability to manage multiple tasks and deadlines simultaneously.
• Advanced knowledge of loan processing and closing policies, procedures, documents, underwriting requirements and approval process.
• Must possess accurate typing speed of 40 wpm and the ability to perform clerical and statistical work requiring speed and accuracy.
• Must possess basic math skills and competent working knowledge of computer software (Microsoft Word, Excel, Outlook and loan processing applications).
• Excellent written and oral communication skills.