Mortgage Loan Processor I / II / III

Mortgage Loan Processor

The purpose of this position is processing residential mortgage loan applications to ensure a smooth mortgage process, and to ensure the accurate and timely processing of the most complicated of residential mortgage loan applications in order that they conform to all regulatory or secondary market requirements. This position may serve as an assistant to an experienced processor, until a level of proficiency is achieved before transitioning to individual assignments for processing and provide initial underwriting decisions within limited parameters and refer to higher authority when required. This position is also responsible for using their expertise to provide guidance and training for other processors.

Responsibilities

Data entry of loan applications to bank's processing system and submission to automated underwriting system.

Communicate with all parties on status of file.

Work with originator and borrower to clear underwriting conditions.

Interpret automated underwriting decisions working with system to obtain best possible outcome for borrower.

Solve file issues and problems within bank guidelines.

Assist experienced processors with routine duties, such as ordering flood certs, ordering appraisals, paying invoices, etc.

Update information from bank statements, paystubs, and appraisal to bank's origination system.

Order and collect documentation necessary to address automated underwriting findings.

Ensure compliance with bank and government regulations.

Study the automated findings and UW conditions on files to learn the requirements for loan approvals.

Obtain the knowledge needed to independently submit quality files to underwriting.

Order and collect documentation necessary to address automated underwriting findings.

Proactively anticipate problems and work to solve them.

Train and mentor the Level I and II processors.

Perform additional duties as assigned.

Qualifications

Mortgage Loan Processor I

High School diploma

Related education or processing / real estate experience within a business, such as a bank, credit union, legal firm, insurance company, title company etc

Knowledge of common computer operations

Excellent organizational skills and attention to detail

Good communication and listening skills

Ability to be teachable and respond positively to coaching and training

Ability to accurately input data with very little margin for error

Ability to learn new processes quickly, retain information, and validate received information as applicable

Ability to read, understand, apply knowledge, and ask for help

Mortgage Loan Processor II

Two (2) to three (3) years of related experience

Knowledge of mortgage investor guidelines

Knowledge of appraisal process

Thorough knowledge of automated underwriting

Knowledge of compliance guidelines

Excellent organizational, communication, and computer skills

Time management and prioritization skills necessary to manage workload

Ability to solve complex loan problems

Ability to manage difficult situations between interested parties in the mortgage transaction

Ability to understand, apply knowledge, and resolve issues that arise between automated underwriting rules and manual underwriting rules

Mortgage Loan Processor III

Three (3) or more years of related experience with definitive evidence of ability to function at elevated capacity

Knowledge and mastery of mortgage investor guidelines and appraisal review process

Mastery of automated underwriting process

Thorough knowledge of compliance guidelines

Ability to train others effectively

Physical Requirements / Working Conditions : Must be able to sit for long periods of time and use computer keyboard and / or mouse, while viewing computer screens.

Note : This is a brief description of this position and is not limited to those described herein. Management retains the right to add, delete or modify any of these responsibilities at any time during employment.