Loan Processor

Position Overview

The Loan Processor is responsible for providing quality customer service by obtaining documentation necessary for loan underwriting and ordering third-party documentation through direct communication with customers and/or Loan Officers. This role provides proper disclosures when required by applicable local, state, and federal regulations.

Job Responsibilities

• Perform a thorough review and analysis of borrowers’ credit, employment, income, and assets as required by the applicable loan program prior to submission to underwriting.
• Assemble the complete loan package in proper order for underwriting.
• Complete the required loan checklist.
• Review applications and supporting documentation for completeness and accuracy, identify items requiring further evaluation, and prepare files for underwriting review.
• Communicate directly with the Loan Originator, customer, and Underwriter to obtain initial and any missing documentation required to qualify for the loan.
• Review loans for compliance with all mortgage-related regulations (RESPA, TIL, HMDA, Reg. B, etc.) and prepare required disclosures.
• Communicate with third-party vendors to obtain property surveys, flood certifications, title commitments, and payoff information.
• Monitor vendor orders and supporting documentation to ensure required invoices and records are received and accurately filed within the applicant's electronic record.
• Aid in the set-up of loans, including self-employed files and specialty products.
• Document all communication related to the loan application in the conversation log.
• Assist Closing, Secondary Marketing, and Loan Servicing teams to obtain and clear outstanding suspense items from CrossCountry Mortgage investors.
• Prepare and distribute required revised Loan Estimates and the initial Closing Disclosure in accordance with applicable policies, procedures, and regulatory requirements.

Qualifications And Skills

• A High School Diploma or equivalent.
• 5+ years of residential mortgage processing experience.
• Experience with Encompass.
• Knowledge of RESPA regulations and other mortgage and consumer lending regulations, including, but not limited to, Regulation Z and Regulation B requirements and loan documentation, preferred.
• Knowledge of DU, LP, Microsoft Office, and Windows.
• Excellent math and analytical skills.
• Excellent communication skills.
• Excellent prioritization and time management skills.