(Mortgage) Loan Processor

From 27th September 2021, you can find your dream job in our vacancies offer provided by PlainsCapital Agency. For example you can find there a job from location Virginia, Virginia Beach, United States functional area Banking & Financial Services, position (Mortgage) Loan Processor.

Description Vacancy

Job position:
(Mortgage) Loan Processor
Banking & Financial Services
Employment type:
Start date:
9121_MTkxOToxYTgxZjU3ZDMzYjEyNTg0MDA4Yzc4YWY2OGY1YzdhNA (myjobhelper.com)

Job description

Under the direction of the Branch Manager, Operations Manager and/or Processing Supervisor, evaluates all information supplied on the mortgage loan application, verifies the validity of the information and assembles a completely documented file to Underwriting and Closing. Acts as the primary liaison between the loan officer, loan officer assistant, realtors, builders and the customer(s).

Essential Functions

* Maintains knowledge of all policies and modifications to the guidelines and standards of the company, federal housing programs, investors, and private mortgage insurers.
* Maintains and updates loan application information within loan origination software and other applications.
* As applicable, orders appraisals, title, survey, verifications, and any other items required for loan approval; conducts regular follow-ups with outside sources regarding outstanding documents.
* Verifies the data collected, analyzes, and decides whether it meets guidelines or if other documentation is needed; documents communication through the conversation log; ensures loan application is in compliance with underwriting, investor, RESPA, and HMDA guidelines.
* Calculates income, reviews assets and liabilities.
* Reviews all disclosures for completeness and compliance.
* Completes final evaluation and analysis of completed application packages and submits eligible files specifying any applicable conditions.
* Monitors rate lock information for data integrity and expiration dates; communicates discrepancies to the Loan Officer.
* May maintain accurate pipeline to ensure proper projections, closings, and regulatory compliance with Company, Federal, and State standards.
* May prepare, when applicable, "Declination Letters." Ensures accurate disclosure of the reason(s) for the adverse action as soon as it is determined that applicants do not qualify.
* May schedule closing appointments with respective parties (i.e. title companies, closing attorneys, corporate closing department and customers etc.) Meets customer service standards as outlined by management.
* May facilitate training of junior or newly hired processors regarding specific Prime operations including file flow, loan origination software, and other applications.
* Updates loan officer, loan officer assistant, realtors, builders and customers on loan status.
* Maintains communication with customers throughout the loan process, assisting them with any questions and notifying them of any additional requirements.
* Other functions as needed.

Job Requirements

* High school diploma or equivalent.
* Minimum of 1 year mortgage banking experience as a processor or junior processor, required.
* Must have working knowledge of Fannie Mae/Freddie Mac and FHA/VA policies and guidelines, as well as, Regulatory Mortgage Compliance, state, federal, local government, private investors and insurers.
* Must have working knowledge, or the ability to learn all operating systems and possess the ability to facilitate training.
* Proficient in Excel, Word, Outlook, with the ability to learn other mortgage-related programs.
* Excellent written and verbal communication skills.
* Excellent organizational and time management skills.
* Demonstrated ability to interact effectively with branch, regional and corporate personnel, as well as realtors, sales agents, builders, appraisers, title companies, etc.
* Demonstrated judgment and decision making ability.
* Must be available to work all regularly scheduled hours; arriving at scheduled reporting time and at the prescribed time after any breaks or lunch periods.
* Must be able to work overtime, as required.

About the Company

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