Residential Lending Processor

Pay Range: $19.86USD to $30.98USD

This position is designated as a Hybrid - Work from Home model with a mix of in-office and remote workdays. The specific schedule will be determined by the manager based on business needs. Candidates for this position are expected to live within a reasonable daily commuting distance

Summary: Responsible for processing mortgage loan applications to closing. Account for the accuracy and completeness of all loan documentation. Be well-versed in rules, regulations and guidelines regarding all aspects of mortgage lending. Responsible for answering customer inquiries, resolving conflicts and communicating effectively.

Responsibilities: include but are not limited to the following. Other duties may be assigned.

• Review initial loan applications submitted by loan officers. Verify application data is complete and meets established mortgage rules and guidelines for type of loan for which borrowers have applied.
• Review documentation such as credit report, pay stubs, tax returns, W-2s, bank statements, and any other documentation associated with loan file.
• Maintain regular contact with loan officers, borrowers, area realtors, insurance agents, title companies (and other parties as needed) to provide loan status updates, obtain additional information, and/or help resolve any issues that may arise.
• Request property appraisal, title commitment, flood certification, homeowner’s insurance and other required documentation. Once all required documentation is received, complete review and submit file for final approval.
• Maintain familiarity with various laws, regulations, and general & soundness guidelines. Stay well-informed of requirements of federal, state, Freddie Mac regulations as well as FHA, VA, USDA, and all other investor loan guidelines.
• Participate in continued mortgage compliance training including, but not limited to: Dodd-Frank Act, ATR/QM Rules, Truth in Lending Act, Real Estate Settlement Procedures Act (RESPA), Home Mortgage Disclosure Act (HMDA-Regulation C), Equal Credit Opportunity Act (ECOA-Regulation B), Fair Housing Act, Fair Credit Reporting Act, etc.
• Develop and maintain an overall understanding of all functions performed with mortgage loan origination, booking, delivery, and servicing.
• Provide assistance to lending staff as needed.
• Assist in ensuring loan software and programs are performing at optimum level. Report and correct any issues that arise. Identify and attend training as necessary for continued knowledge.
• Monitor mortgage loan pipeline to ensure files stay compliant with timing requirements including meeting closing dates. Report any issues on approaching deadlines to applicable parties.

All employees are expected to protect the information and assets of the organization through heightened awareness of information security, cyber security, and risk management best practices, as well as complying with all applicable laws, regulations, and organizational policies.

Qualifications and Skills: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills and abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Education/Experience:

• High school diploma or equivalent.
• One to three years’ mortgage loan processing or related experience required.
• Knowledge of Freddie Mac underwriting guidelines.
• Experience with Encompass preferred.
• Broad knowledge of mortgage loan related functions.

Knowledge/Skills/Abilities:

• Strong organizational skills and attention to detail.
• Strong customer service orientation.
• Ability to work as part of a team.
• Ability to problem solve, prioritize tasks and meet required deadlines.
• Ability to think critically and use good, sound judgment in decision-making.
• Ability to write routine correspondence and communicate effectively and tactfully, orally and in writing with employees, customers, vendors and management.
• Ability to respond to common inquiries or complaints from regulatory agencies, outside auditors and accountants, Board of Directors or other members of management.
• Ability to define problems, collect data, establish facts and draw valid conclusions.
• Must understand and comply with company policies and procedures.
• Ability to oversee goals and projects and ensure they are completed in a timely manner.
• Ability to maintain a friendly, helpful and courteous attitude when working with customers or co-workers under diverse conditions.
• Ability to apply concepts such as fractions, percentages, ratios and proportions to practical situations.
• Ability to interpret various ratios and relationships inherent in common or specialized financial reports.
• Ability to project future results or consequences from different alternatives or variables.
• Ability to use a calculator, computer and applicable software.
• Ability to use Microsoft Internet Explorer and Microsoft Office programs, specifically Word, Outlook and Excel.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The employee must have the ability to lift and carry 25 pounds for a distance of 50 feet.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities


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