Independent Contractor Loan Processor Jobs in Indiana

The Mortgage Loan Processor is responsible for ensuring the timely and accurate processing of mortgage loan transactions. Responsibilities include gathering customer data, assisting loan officer with customer interaction and gathering of loan documentation, and processing and verifying loan documentation in compliance with company policies and investor guidelines. The Mortgage Loan Processor also performs pre-underwriting of investor loans and full underwriting of portfolio loans.

Expected Outcomes: Deliver timely, accurate, and compliant mortgage loan processing by managing loan files from disclosure through closing, ensuring all documentation is complete, verified, and aligned with underwriting and regulatory requirements. This role exists to streamline the loan approval process through effective coordination with borrowers, loan officers, and underwriters, while maintaining data integrity, meeting deadlines, and supporting a smooth and efficient path to closing.

Our Mortgage Loan Processor will know they are successful if they do the following confidently and independently...

• Take full ownership of the loan file once disclosures have been completed, through loan closing. Work directly with the borrower on all loans, except where otherwise noted in file.
• Conduct a Welcome Call with the borrower, explaining the process, the items still needed, and provide timelines for submitting them in the portal. Avoid emailing documents whenever possible, preferred method is to have borrower submit through the online portal to protect the data.
• Monitor files for changes that require re-disclosing. Update the Changed Circumstance and communicate to the Disclosure team when a new disclosure is required. Also serve as back up to the Disclosure team.
• Order services needed, including, but not limited to flood, appraisal, credit updates, fraud, title, verifications, etc.. as required per product and underwriting. All items are to be reviewed for accuracy and update any missing or incorrect data prior to UW review.
• Receive and review documents submitted by the borrower to determine adequacy per product guidelines.
• Submit agency and government files to Automated Underwriting System, compare results to system, documentation and request any items required for underwriting.
• Complete a pre-underwrite review of the file to ensure the file meets all guidelines for the product. Review the AUS, or other materials for the product to ensure it is ready for the UW to review.
• Review file for complete initial submission, reviewing any questions with your manager, when needed. Submit complete loan package to underwriting. Include notes in Encompass for all items that have been ordered, requested, or identify any specifics the UW needs to be aware of to complete the process.
• Request and submit additional conditions requested by underwriting, any questions on conditions should be reviewed with your manager prior to submission.
• Communication: maintain periodic file reviews with the Loan Officer, communicate with the borrower by borrower's preferred method of communication. Best practice is to monitor loans and make notes in Encompass every 2-3 days.
• Stay knowledgeable and up to date any compliance, regulatory, product and/or underwriting guidelines. Complete all required training and agency updates as required.

Requirements

What we are looking for...

• Requires a minimum of five years of mortgage banking experience in areas of mortgage origination, closing or processing.
• Must be familiar with common mortgage documents.
• Requires at least a high school diploma or GED from an accredited institution.
• Attention to detail is required for this position.
• Ability to multi-task is required.
• Strong organizational skills are required with the ability to independently prioritize work to meet deadlines.
• Must be customer service-oriented and able to maintain clear and concise communication both verbal and written.
• Proficient knowledge of MS Word, Excel, Teams and Outlook is required.

Our Benefits: Health, Vision, Dental, 401K, ESOP, 100% Tuition Assistance, 4 weeks paid time off, plus a few more.

About Merchants

Ranked as a top performing U.S. public bank by S&P Global Market Intelligence, Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple segments, including Multi-family Mortgage Banking that offers multi-family housing and healthcare facility financing and servicing; Mortgage Warehousing that offers mortgage warehouse financing; and Banking that offers retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking. Merchants Bancorp, with $18.8 billion in assets and $11.9 billion in deposits as of December 31, 2024, conducts its business primarily through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Merchants Capital Investments, LLC, Merchants Capital Servicing, LLC, Merchants Asset Management, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana.

Merchants Bank and Merchants Capital have recently been honored with the 2025 USA Today Top Workplaces recognition, ranking 22nd nationally within the 500-999 employee category. This is the second year that Merchants has been recognized with this award. These accolades build on our strong history of workplace recognition, including being named a Best Place to Work in Indiana for seven consecutive years (2016–2022). For more information read the entire article here.