Loan Processor
Mortgage Loan Processors play a critical role in ensuring that mortgage applications move smoothly through the approval process, adhering to all relevant regulations and guidelines.
Job Title: Mortgage Loan Processor
Responsibilities:
- Application Review:
- Review and analyze mortgage loan applications for completeness and accuracy.
- Ensure that all required documentation, such as income verification and credit reports, is provided.
- Communication:
- Communicate with loan officers, underwriters, and clients to gather additional information and clarify any discrepancies in the application.
- Documentation Verification:
- Verify the accuracy of supporting documentation, including employment records, financial statements, and property appraisals.
- Check for compliance with lending regulations and internal policies.
- Coordinating with Other Departments:
- Collaborate with loan officers, underwriters, and closing agents to facilitate a smooth loan approval process.
- Ensure all parties involved have the necessary information for timely decision-making.
- Record Maintenance:
- Maintain accurate and up-to-date records of all loan applications and their status.
- Input data into loan processing software and other relevant systems.
- Compliance:
- Ensure that all loan processing activities comply with relevant federal, state, and local regulations.
- Stay informed about changes in regulations and adjust processes accordingly.
- Customer Service:
- Provide updates to clients on the status of their loan applications.
- Address inquiries and concerns from clients regarding the loan process.
- Problem Resolution:
- Identify and resolve issues that may arise during the loan processing stage.
- Collaborate with underwriters and other teams to address any challenges.
- Closing Preparation:
- Prepare loan files for closing by ensuring all necessary documentation is in order.
- Coordinate with closing agents and title companies to facilitate the closing process.
- Reporting:
- Generate reports on loan processing activities, pipeline status, and key performance indicators.
Qualifications:
- Previous experience in mortgage loan processing or a related field.
- Strong understanding of mortgage lending regulations and compliance.
- Excellent organizational and multitasking skills.
- Attention to detail and accuracy in document review.
- Effective communication skills for interacting with various stakeholders.
