Mortgage Loan Processor JOB SUMMARY:
The Mortgage Loan Processor is responsible for processing residential loan applications. Responsibilities include reviewing applications for completeness, ordering all necessary supporting documentation, reviewing documentation and working up and submitting loan to underwriter. The Mortgage Loan Processor works with the underwriter, closing department and title company to verify loan is clear and complete for the closing.
Mortgage Loan Processor ESSENTIAL RESPONSIBILITIES:
- Analyzing information for completeness, accuracy and acceptability of investor’s guidelines.
- Processing the mortgage application from the time of receipt of application to submission of the loan package to underwriting and through closing.
- Maintaining up-to-date knowledge of FHA, VA and Conventional mortgage guidelines, rules and regulations pertaining to generating an acceptable mortgage loan.
- Represent the team to the public, businesses and other agencies as necessary to complete the processing of Loan.
- Gathering and interpreting data that supports mortgage loan requests such as automated underwriting, credit reports, income and asset documentation, appraisal and title.
- Mortgage Loan Processor Researches and analyzes routine administrative projects for the Loan Officer.
- Receive and screen communications to the Loan Officer including phone calls and email messages and provide assistance using independent judgment to determine those that require priority attention.
- Periodically review First Time Home Buyer (FTHB) web sites and literature (including but not limited to: MHFA, CityLiving, Ramsey, Hennepin, Dakota and Washington County programs); ascertain FTHB manual includes current program information and updates; monitor the inclusion and positioning of Senor Loan Officers inclusions on the FTHB Participating Lender lists.
- Mortgage Loan Processor Maintains and perform monthly updates to customize Excel spreadsheets regarding mortgage and economic indicator reporting and data.
Mortgage Loan Processor POSITION REQUIREMENTS:
- Minimum 2 years mortgage processing experience.
- Must have stable work history.
- Excellent written and oral communication skills.
- Self-driven individual who works well within a team.
- Proficient computer skills.
- Mortgage process and structure.
- Encompass and/or other mortgage software.
- Automated Underwriting (DU/LP)
- Exemplary customer service skills, including dealing effectively with the public and staff, both in person and over the phone.
- Teamwork and creative and innovative techniques for performing assignments.
- Proper English usage, spelling, grammar and punctuation. ü Business correspondence formatting.
- Basic mathematical computations, accounting and record keeping.
- Time Management skills.
- Computer application related to work (ACT, Exel, Word, Email)
- Standard office administrative practices and procedures, including the use of standard office equipment.