Mortgage Loan Processor

Job Description

Job Description

Overview

A Mortgage Loan Processor is responsible for coordinating and processing residential mortgage loan applications from initial submission through underwriting and clear to close. This position works closely with lenders, underwriters, title companies, appraisers, and borrowers to ensure loan files are complete, accurate, and compliant with all regulatory requirements. The Mortgage Loan Processor plays a critical role in delivering exceptional customer experience by maintaining proactive communication, managing timelines, and helping borrowers navigate the mortgage process efficiently. The ideal candidate is highly organized, detail-oriented, analytical and able to manage multiple loan files simultaneously, while maintaining accuracy, confidentiality, and a strong customer service focus. Success in this position requires excellent communication skills, sound judgment, and a collaborative team mindset, while representing the high standards and customer-focused service expected.

Responsibilities

• Review residential loan application files to verify that application data is complete and meets establishment standards, including type, amount of mortgage, borrower assets, liabilities and length of employment.
• Maintain accurate and up to date records of all loan statuses for reporting and tracking purposes such as submitted, approved, cancelled, or denied.
• Maintain strong product and system knowledge by taking advantage of training and educational opportunities regarding updates, changes in processes, and regulatory requirements.
• Verify accuracy of information with employer and credit bureaus.
• Request and analyze financials provided from borrower(s) to process and underwrite files.
• Contact specified companies to order and obtain property abstracts, surveys, appraisals and title work.
• Inform supervisor of discrepancies in title or survey coverage.
• Recommend loans not meeting standards be denied.
• Submit mortgage loan applications file for underwriting approval.
• Maintain an organized and efficient work area with quick and easy access to all up to date guides and forms.
• Maintain organized electronic files in LOS.
• Type and mail approval/denial/incomplete letters to applicant(s).
• Submits approved mortgage loan files to Mortgage Closers for settlement once clear to close status received.
• Maintain ongoing correspondence with customer, MLO, and title company regarding loan status. Proactively and effectively communicate all information to borrowers from the time the loan is submitted through clear-to-close.
• Monitor and reconcile all submitted documentation, obtain missing and/or final loan documentation from the borrower, and discuss any discrepancies with the MLO.
• Review data input in comparison to loan documents and update/inquire accordingly.
• Provide feedback to management regarding ideas on ways to improve and allow for a more efficient and automated process.
• Perform other duties as assigned

Qualifications

• High school diploma or equivalent required.
• 2+ years of mortgage loan processing experience, including residential loan processing.
• Knowledge of mortgage loan underwriting criteria and compliance guidelines, including ability to research and provide guidelines to clients and internal staff and comfortably discuss specific characteristics of loan features in relation to guidelines.
• Understanding of credit guidelines and ability to read credit reports.
• Basic underwriting knowledge/comprehension, including income calculation, asset review, appraisal review, etc.
• Knowledge of mortgage lending guidelines and regulations (RESPA, REG B, HMDA, FHA, VA, Conventional, and other products offered).
• Excellent attention to detail.
• Strong oral, written, and interpersonal communication skills
• Strong analytical and problem-solving skills
• Excellent time management and follow-up skills
• Ability to work effectively with business teams, clients, and vendors to build strong relationships
• Working knowledge of Microsoft Office products, including strong Excel spreadsheet skills

Location: North Dallas on Preston Road at 635/LBJ Frwy About NDBT:

We have a great team of friendly, talented, and inspiring people at NDBT. We take pride in offering opportunities for employees to grow and follow their passions, while providing a great work-life balance as well as job stability. Founded in 1961, NDBT has a long-standing reputation in the community and strives to provide excellent customer service to our customers and communities. NDBT leadership and employees foster and contribute to our environment of mutual respect, accountability, creativity, and teamwork; and at all times to act with integrity, dignity, honor, and fairness. If this sounds like something you would like to be a part of – consider applying today.

North Dallas Bank and Trust is an Equal opportunity employer. This company considers candidates regardless of race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status.