Mortgage Loan Processor Lp3

Job Description

Job Description

Loan Partner Three (LP3) / Loan Processor

We are looking for a detail-oriented and proactive Loan Partner Three (LP3) to join our team and help create a smooth, efficient loan experience from RESPA through funding.

In this role, the LP3 will manage high-quality loan processing from lock to loan, working closely with the Loan Officer, Loan Partner Two, underwriters, borrowers, and key partners to keep each file moving forward with accuracy and care.

The ideal candidate is someone who understands mortgage guidelines, enjoys problem-solving, and takes pride in submitting clean, complete loan files to underwriting. This person will carefully review and evaluate cash, credit, income, and collateral, while proactively communicating updates, anticipating potential conditions, and helping reduce delays.

This role is a great fit for someone who is organized, dependable, and confident in navigating the loan process while delivering a positive experience for borrowers and the team.

Compensation:

$60,000 - $90,000 yearly

Responsibilities:

Pre-Underwrite

• Verify that the initial loan file is complete using the pre-underwrite checklist
• Request any additional documentation on cash, credit, and capacity (income)
• for a complete loan submission
• Return incomplete loans to LO or LP2 with a detailed list of outstanding items
• Initiate ALL third-party items (or direct LP3A to do so, if applicable)
• Submit high-quality loans for preliminary underwriting without over-analyzing

Post-Underwrite:

• Analyze the Conditional Loan Approval (CLA) to ensure all conditions are clear
• Confirm outstanding CLA items have NOT already been received before reaching
• out to external parties (avoid duplicate requests to borrowers)
• Request conditions in layman’s terms that are easy for borrowers to understand
• Thoughtfully review and submit all conditions to underwriting
• Proactively communicate with LP2 (via phone or face-to-face) on better
• submission practices
• Send all Clear to Close (CTC) requests via email to the loan team
• Review ICD and CDs to ensure accuracy vs. the original Loan Estimate (LE)

Post-Fund:

• Monitor pending closed loans for funding authorization
• Clear any post-funding conditions as required
• Support LO, LP1, LP2, and borrowers with any post-funding questions

Additional Responsibilities

• Collaborate with the Operations Team to improve the LP2 submission checklist for efficiency
• Attend Weekly Team Meetings (WTM) to review the entire loan pipeline
• Log all crucial communication in the LOS Conversation Log
• Build relationships with closing, funding, post-closing, and QC teams
• High-quality borrower third-party communication is required, differentiating
• this role from a traditional Loan Processor

Qualifications:

Standard Job Requirements

• High school diploma or equivalent
• Minimum 3 years of underwriting or processing experience
• 40+ hours per week commitment
• Proficient in DU/DO and LP
• Major Loan Origination Systems (LOS) expertise (Encompass, Calyx Point, etc.)
• Strong understanding of investor guidelines
• Microsoft Office Suite proficiency (Word, Excel, PowerPoint, Outlook, OneNote)
• Excellent verbal and written communication skills
• Strong time management ability to work under pressure
• Detail-oriented with a strong sense of accountability
• Team player with the ability to collaborate across corporate branches
• levels
• Completion of all required regulatory compliance training

About Company

Covita Lending is an Independent Mortgage Broker based out of Columbus, Ohio, that operates in Ohio, Florida, Georgia, and South Carolina. Covita Lending offers a wide range of lending options to meet your financial needs and circumstances. With nearly 40 years of combined experience as top-producing loan officers, our assurance is that whether you are a first-time buyer, interested in refinancing your mortgage, or a real estate investor, we’re here to guide you through the process.