The Mortgage Loan Processor is primarily responsible for processing mortgage loans for a top producing Loan Officer from the origination stage to the funding stage. The Mortgage Loan Processor will ensure that the loan files meet credit standards, state and federal regulatory requirements and comply with company policy.
Essential Duties and Responsibilities (include but not limited to):
Loan Processing: (75%)
- Gather Information, documentation and complete necessary paperwork in order to take each client file from initial review to closing/funding.
- Review residential loan applications and loan files for accuracy and completeness, in accordance with program, local, state and federal regulations and guidelines prior to submitting to underwriting. Ensuring data integrity and establishment standards are met in the following areas: Credit, income, assets, collateral
- Complete necessary requirements for fulfilling loan documentation, including but not limited to contacting the borrower for required documents, requesting documentation from 3rd parties and completing company documentation for final approval of loan file.
- Utilize mortgage technology to assist in supporting documentation and automated underwriting, including DU, DO, LP, GUS, and various additional technology 3rd parties.
- Re-Disclose loan information based on specific changes requested by the client, underwriting or due to rate lock per the local, state and federal compliance regulations.
- Obtain final fees from escrow, 3rd parties and complete required information in order to send clients their initial and/or re-disclosure of the Closing Disclosure.
- Identify client needs, explore all options and assist loan officer and underwriter in evaluating different types of loans for the client.
- Responsible for answering questions regarding loan documentation and closing requirements.
- Maintain successful timely communication with loan officers and clients regarding loan status.
- Work with processing team, team members in other departments and management to maintain open communication, understanding and file flow in order to forge strong relationships and enhanced client satisfaction.
Additional Responsibilities (5%)
- Print, copy, upload and scan documents/files.
- Attend company, department or location required meetings and functions.
- Manage client loan pipeline, including adhering to policies in regards to turn times for company, local, state or federal regulations.
- Adhere to company policies and procedures set for position with Directors Mortgage as well as the Directors Mortgage Employee Handbook.
Minimum Knowledge, Skills and Abilities Required
- 3-5 years of experience in the Mortgage or Real Estate field
- Proficiency with basic computer software and industry-specific software required.
- Must have experience on Encompass Loan Origination system, or similar Loan Operating System.
- Strong working knowledge and understanding of federal and state regulations that pertain to mortgages.
- Excellent attention to detail, strong organizational skills and problem-solving skills required.
- A high degree of professionalism is expected in handling calls and the interface involved with all parties.
- Annual salary plus great bonus incentives.
- Medical, vision, dental and life benefits
- 401(K) with company match
- Paid time off
Job Type: Full-timer
- Dental Insurance
- Health Insurance
- Paid Time Off
- Vision Insurance
- Mortgage Industry: 3 years (Preferred)
- Loan Processing: 3 years (Preferred)
- Monday to Friday