Mortgage Loan Processor I/II/III

Residential Mortgage Loan Processor

The purpose of this position is processing residential mortgage loan applications to ensure a smooth mortgage process. This position is an entry level position for individuals with less than 1 year of mortgage lending, or related experience that indicates an ability to master the technical and detailed duties required for the production of quality loan files. This position may serve as an assistant to an experienced processor, until a level of proficiency is achieved before transitioning to individual assignments for processing.

This position may be filled at Level I, II, or III. Additional responsibilities and qualifications apply.

Responsibilities

Assist experienced processors with routine duties, such as ordering flood certs, ordering appraisals, paying invoices, etc.

Update information from bank statements, paystubs, and appraisal to bank's origination system.

Order and collect documentation necessary to address automated underwriting findings.

Ensure compliance with bank and government regulations

Study the automated findings and UW conditions on files to learn the requirements for loan approvals.

Obtain the knowledge needed to independently submit quality files to underwriting.

Perform additional duties as assigned.

Additional Responsibilities Level II:

• Data entry of loan applications to bank's processing system and submission to automated underwriting system.
• Communicate with all parties on status of file.
• Work with originator and borrower to clear underwriting conditions.
• Interpret automated underwriting decisions working with system to obtain best possible outcome for borrower.
• Solve file issues and problems within bank guidelines.

Additional Responsibilities Level III:

• Order and collect documentation necessary to address automated underwriting findings.
• Proactively anticipate problems and work to solve them.
• Train and mentor the Level I and II processors.

Qualifications

• High School diploma
• Related education or processing/ real estate experience within a business, such as a bank, credit union, legal firm, insurance company, title company etc
• Knowledge of common computer operations
• Excellent organizational skills and attention to detail
• Good communication and listening skills
• Ability to be teachable and respond positively to coaching and training
• Ability to accurately input data with very little margin for error
• Ability to learn new processes quickly, retain information, and validate received information as applicable
• Ability to read, understand, apply knowledge, and ask for help

Additional Qualifications Level II:

• Two (2) to three (3) years of related experience
• Knowledge of mortgage investor guidelines
• Knowledge of appraisal process
• Thorough knowledge of automated underwriting
• Knowledge of compliance guidelines
• Excellent organizational, communication, and computer skills
• Time management and prioritization skills necessary to manage workload
• Ability to solve complex loan problems
• Ability to manage difficult situations between interested parties in the mortgage transaction
• Ability to understand, apply knowledge, and resolve issues that arise between automated underwriting rules and manual underwriting rules

Additional Qualifications Level III:

• Three (3) or more years of related experience with definitive evidence of ability to function at elevated capacity
• Knowledge and mastery of mortgage investor guidelines and appraisal review process
• Mastery of automated underwriting process
• Thorough knowledge of compliance guidelines
• Ability to train others effectively

Physical Requirements/Working Conditions: Must be able to sit for long periods of time and use computer keyboard and/or mouse, while viewing computer screens.

Note: This is a brief description of this position and is not limited to those described herein. Management retains the right to add, delete or modify any of these responsibilities at any time during employment.