JOB SUMMARY:
The Mortgage Loan Processor oversees loan applications, conducts meticulous reviews, coordinates documentation efficiently, and ensures compliance.
Collaborating closely with loan officers, underwriters, and borrowers, they maintain effective communication and address inquiries promptly.
With keen attention to detail, this individual contributes to a streamlined lending process.
MAJOR DUTIES/(ESSENTIAL FUNCTIONS):
Responsible for:
Validation & completeness of applicant information, financial documents, and credit reports.
Collect and organize all required documentation for loan files, including derogatory credit, inquiries, addresses, name variations, fraud notifications, etc.
Order Verification of Employment, Deposits, & Mortgage.
Clarify any discrepancies as needed.
Order title reports & assist title with clearing any underwriting issues.
Properly submit complete loan files to the correct investor.
Ensure that all loan files adhere to regulatory and company policies.
Communicate with underwriting to clear the conditions.
Collaborate with underwriters to resolve any outstanding issues or concerns.
Work proactively to meet established loan processing timelines.
Communicate with borrowers to request any missing or additional information.
· Maintain regular communication with loan officers, underwriters, and other relevant stakeholders.
· Update all parties on loan application status and promptly address inquiries.
· Keep all stakeholders informed of any potential delays or challenges.
· Identify and rectify any discrepancies properly.
· Ensure all documents comply with regulatory and company guidelines.
RELATIONSHIPS:
Works with vendors, other financial institutions, mortgage companies, insurance agencies, builders and realtors.
HIRING AND EDUCATIONAL REQUIREMENTS:
Must have at least five years of mortgage loan processing experience.
Prior experience working with Calyx is preferred.
High school diploma or equivalent.
Must have experience with an online computer system.
Must have good math skills.
Must possess good communication and listening skills, a pleasant and professional attitude, and work well under pressure.
PHYSICAL REQUIREMENTS:
Must be able to sit or stand for long periods of time.
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