Job Description

Loan Processor

• 3 YEARS EXPERIENCE REQUIRED

• Check loan applications for complete information and prepare loan files.

• Verify the setup of new loan files in the Loan Origination System, entering appropriate information. Prepare disclosures, rate locks, verifications and all necessary credit and appraisal documents.

• Calculate debt-to-income, loan-to-value, and other ratios to be used in loan review.Order and follow-up on real estate services (i.e., Appraisal, Escrow, Title, etc.).

• Review loan application and gather loan documents from the customer and third parties in support of the loan approval process, according to AUS findings, program parameters and investor guidelines

• Responsible for ensuring that all loan documentation is complete, accurate, verified and complies with company and/or investor policies

PROFICIENT WITH CALYX POINT & DOC MAGIC SOFTWARE IS A MUST!

• Ability to review and analyze basic financial statements, such as personal tax returns.

• Review appraisals, escrow instructions, and title documents to ensure timely completion of the loan and perfection of the lien interest in the property.

• Keep the Loan Origination System updated as loan is processed.

• Communicate regularly with members and/or members’ agent(s) providing periodic status updates of their loan application and follow up with them for required information.

• Assure that member files are complete and in compliance with regulation agencies and internal policies.

• Ensure customer privacy, security of files and appropriate staff access.

• Successfully work with Loan Officers, Underwriters and Funders to ensure that loan files are submitted to underwriting within expected timelines and that loan conditions are met as required throughout each stage of the loan process

• Build rapport with borrowers and provide on-going communication to the customer regarding loan status

• Must have a working knowledge of secondary investor lending requirements and other lending policies, guidelines and systems.

• Recommend loans for approval to the Underwriting team.

• Work closely with the Loan Officer to finalize loan structure and ensure accurate figures for the Closing Disclosure to be generated

• Prepare file for loan closing and coordinate with all necessary parties involved

• Apply team and department “Best Practices” and continually work for process and service improvements.

• Perform other related duties as assigned or requested.

WHAT YOU WILL NEED:

• Knowledge of FNMA, FHLMC, FHA and VA guidelines.
• Proficiency with DU and LP, FHA Connection and VA Portal
• Adept at calculating income from salaried and self-employed borrowers
• Knowledge of TRID and compliance· Excellent interpersonal, verbal and written communication skills
• Strong customer service skills – ability to build rapport quickly
• High level of accuracy and attention to detail
• Excellent time management skills and ability to organize, prioritize and handle multiple tasks simultaneously
• Minimum of 3 years of experience in Mortgage Processing
• Strong working knowledge of Calyx Point & Doc Magic