Mortgage Loan Processor

Mortgage Loan Processor

The Mortgage Loan Processor is responsible for managing loan files from application through closing, ensuring accuracy, compliance, and timely progression of mortgage loans. This role coordinates with loan officers, underwriters, title companies, and borrowers to collect documentation, verify information, and resolve outstanding conditions so loans close on schedule.

Key Responsibilities

• File Management: Open, organize, and maintain complete loan files in the loan origination system.
• Documentation Collection: Request, receive, and verify borrower documents (income, assets, employment, credit, property) and ensure they meet program guidelines.
• Verification: Order and review credit reports, appraisals, title work, flood certifications, and verifications of employment and assets.
• Condition Clearance: Track underwriting conditions; prepare and submit clear, well-documented responses to underwriter requests.
• Communication: Serve as primary point of contact for borrowers, loan officers, real estate agents, and third-party vendors; provide timely status updates.
• Compliance: Ensure files comply with federal and state requirements and internal policies; maintain accurate audit trails.
• Closing Coordination: Prepare closing packages, coordinate with escrow/title, and confirm funding instructions and disbursements.
• Quality Control: Review files for completeness and accuracy prior to closing; identify and escalate potential issues.
• Reporting: Maintain pipeline reports and contribute to metrics such as turn times, clear-to-close rates, and closing accuracy.

Qualifications

• Experience: 2+ years processing residential mortgage loans preferred; experience with conventional, FHA, VA, and USDA programs a plus.
• Education: High school diploma or GED required; Associate degree or relevant certification preferred.
• Certifications: NMLS or mortgage-processing certifications are advantageous but not required.
• Technical: Proficiency with loan origination systems (e.g., Encompass) and MS Office.
• Regulatory Knowledge: Familiarity with TRID, RESPA, ECOA, and other mortgage regulations.

Skills and Competencies

• Attention to Detail: Strong accuracy in document review and data entry.
• Organization: Ability to manage multiple files and deadlines in a fast-paced environment.
• Communication: Clear, professional verbal and written communication with internal and/or external stakeholders.
• Problem Solving: Proactive in identifying issues and driving resolution.
• Customer Service: Empathetic and responsive when working with borrowers.
• Teamwork: Collaborative approach with loan officers, underwriters, and closing partners.

Working Conditions

• Schedule: Full-time; may require occasional extended hours to meet closing deadlines.
• Physical Requirements: Office-based; ability to sit for extended periods and use a computer.

Equal Opportunity: Employer is an equal opportunity employer committed to diversity and inclusion.