Senior Loan Processor

Role Description

The primary function of the Senior Loan Processor is to ensure the efficient and accurate processing of retail mortgage loans. Serve as a point of escalation for junior processors on the team. This is an approximately 4 month temporary contract position.

Job Responsibilities:

• Provide exceptional customer service to borrowers, loan officers, and other stakeholders throughout the loan process, addressing concerns and inquiries promptly.
• Collaborate closely with loan officers, underwriters, and other team members to facilitate the smooth and timely execution of mortgage transactions, while maintaining a strong focus on customer satisfaction and compliance with regulatory guidelines.
• Review and analyze loan applications for retail mortgage loans, including conforming and non-conforming loans; ensure all required documentation is accurate, complete, and complies with internal policies and regulatory guidelines.
• Verify the accuracy and completeness of applicant information, such as income, employment, credit history, and assets, to assess the borrower's creditworthiness and ability to repay the loan.
• Collect and organize all necessary documentation, including pay stubs, tax returns, bank statements, and other financial records, from applicants and third-party sources.
• Maintain regular communication with loan officers, borrowers, and third-party vendors to provide updates on loan status, address inquiries, and obtain missing information.
• Ensure all loan files are properly documented, organized, and tracked in the loan origination system, adhering to bank policies and compliance standards.
• Prepare and submit completed loan packages to underwriting for approval, including reviewing conditions and addressing any outstanding issues promptly.
• Adhere to all federal, state, and local regulations governing mortgage lending, as well as internal policies and procedures, to ensure full compliance at all stages of the loan process.
• Perform thorough reviews of loan files to identify and resolve potential issues or discrepancies, ensuring accuracy and completeness.
• Identify opportunities for process optimization and efficiency gains, contributing to the continuous improvement of loan processing procedures.
• Support and mentor junior loan processors, offering guidance and expertise to foster their professional development.
• Perform special projects, and additional duties and responsibilities as required.

Qualifications

• Bachelor's degree (or equivalent; OR associate degree and two (2) years of experience in functional area; OR high school diploma (or equivalent) plus four (4) years of experience in functional area).
• Additional three (3) years+ of progressive experience in functional area.

Requirements

• Proven skills and experience with mortgage processing functions.
• Proven experience with Microsoft Office 365 and the following technology: loan origination systems (LOS; Encompass preferred).
• Demonstrated knowledge of compliance regulations governing mortgage lending and loan processing.
• Willingness to pursue continuing education, certifications, etc. as applicable to advancing in the organization.
• Analytical and problem-solving skills.
• Interpersonal and communication skills with the ability to speak confidently.
• An ability to thrive in a fast-paced environment where priorities change daily, and where employees wear many hats.
• Detail-oriented with the ability to think "outside the box" and prioritize tasks and decisions in a timely manner.
• Self-directed, yet effective working as part of a collaborative team.
• Responsive and customer-focused with a demonstrated use of professional judgment.

Benefits

• Health, Dental, Vision, & Life Insurance
• Financial Wellness Planning & Coaching
• Counseling Support Services & Resources
• Paid Parental Leave
• Pet Insurance
• 401K Match
• Employee Bank Accounts with Quontic
• Generous Paid Time Off