Mortgage Loan Processor Jobs

As a Loan Processor, your primary responsibility is to facilitate the loan application and approval process. You will work closely with borrowers, loan officers, underwriters, and other stakeholders to gather and evaluate necessary documentation, verify information, and ensure compliance with lending policies and regulations. Your attention to detail, strong organizational skills, and ability to work in a fast-paced environment will be crucial for success in this role.

Responsibilities:

1. Loan Application Review: Review loan applications and accompanying documents to ensure completeness, accuracy, and adherence to lending guidelines and regulatory requirements.
2. Documentation Collection: Coordinate with borrowers to obtain all necessary documents, such as income verification, employment history, credit reports, tax returns, bank statements, and property appraisals.
3. Verification and Evaluation: Verify and validate the information provided by borrowers, ensuring authenticity and accuracy. Analyze financial statements, credit reports, and employment records to assess creditworthiness and loan eligibility.
4. Communication: Maintain regular communication with borrowers, loan officers, underwriters, and other relevant parties to relay loan status updates, request additional information, and address any concerns or issues that may arise during the loan process.
5. Compliance: Ensure compliance with lending policies, regulations, and guidelines, such as those set by regulatory bodies like the Consumer Financial Protection Bureau (CFPB) and internal company policies.
6. Loan File Preparation: Prepare loan files by organizing and assembling all required documentation in a clear and orderly manner to facilitate underwriting and loan approval.
7. Data Entry: Accurately input relevant loan information into the loan processing system or software, ensuring proper tracking and documentation of loan files.
8. Time Management: Manage multiple loan files simultaneously, prioritize tasks, and adhere to established timelines and deadlines to ensure timely loan processing and closing.
9. Problem Resolution: Identify and address potential issues or discrepancies in loan applications, collaborating with loan officers, underwriters, and other stakeholders to resolve problems and ensure smooth loan processing.
10. Record Keeping: Maintain accurate and up-to-date records of loan applications, communications, and related documentation.

Qualifications:

• Familiarity with loan origination software and tools.
• High school diploma or equivalent (Bachelor's degree in a related field is a plus).
• Ability to work well under pressure and meet deadlines.
• Proficient in data entry and document management.
• Ethical and professional conduct with sensitive and confidential information.
• Solid understanding of lending guidelines, regulations, and compliance standards.
• Previous experience in loan processing, mortgage banking, or a related financial industry role is preferred.
• Strong attention to detail and accuracy.
• Excellent organizational and time management skills.
• Effective verbal and written communication skills.