Loan Processors

Reporting to the Manager, Processing, the Loan Processor ensures the timely and accurate packaging of all loans originated by our loan officers and lender clients. Responsibilities also include assisting Credit Analysts with the credit approval and monitoring process by gathering financial and credit information with a focus on credit quality and overall risk management. This role will also prepare spreadsheets and other underwriting tools to be used in the credit analysis, annual reviews, monthly compliance reports and other related documents on existing and prospective correspondent/wholesale clients.

Job Functions:
Gather information and take each file from pre-approval to closing.
Input proper loan information into the system for processing.
Responsible for ensuring that all loan documentation is complete accurate verified and complies with company policy.
Verify loan documents including income credit appraisal and title insurance ultimately preparing application for submittal to underwriting.
Review file documentation and make sure all items needed are requested. Order and coordinate loan documents.
Meet crucial deadlines requested.
Communicate with borrowers, fellow employees and clients in a manner that shows sensitivity, tact, and professionalism
Contact each borrower in a timely manner to introduce yourself and go over the process and items needed
Read and understand appraisals, AUS findings, title and credit reports;
Utilize basic business math to calculate income, assets, taxes and monthly insurance
Understand rules regulations, policies and/or procedures along with investor guidelines
Maintain current knowledge about the industry, market trends, competitive position, etc.
Strive to achieve and exceed productivity expectations and standards
'Pre-underwrite' loan files, assuming what conditions may be needed prior to the file being underwritten by the underwriter.
Develop Policies and Procedures and best practice checklists
Work closely with vendors and conduct training as needed
High school diploma, GED, equivalent certification, or military experience
Minimum 5 years of recent experience as Loan Processor is required
Read, interpret and apply applicable laws, rules, regulations and/or policies and procedures
Demonstrate interpersonal, organizational and time management skills
Accurately document all information pertaining to accounts
Knowledge of the laws governing access to public and private records
Strong computer skills; Must be able to move through the LOS system and other programs
Time management: Knowing the cut-off times for funding and underwriting so that the file moves smoothly and does not lose a rate lock.
Knowledge of GFE, APR, interest rates and disclosure/re-disclosure time lines
Ability to operate in a fast paced environment
Perform any additional duties/activities assigned or needed by the business
Bilingual Spanish a plus

Don't Be Fooled

The fraudster will send a check to the victim who has accepted a job. The check can be for multiple reasons such as signing bonus, supplies, etc. The victim will be instructed to deposit the check and use the money for any of these reasons and then instructed to send the remaining funds to the fraudster. The check will bounce and the victim is left responsible.