Loan Processor

Position Summary

The Loan Processor plays a key role in delivering a smooth and positive mortgage experience for our customers. Reporting to the Operations Manager, this position is responsible for reviewing, verifying, and preparing complete loan files for Underwriting and Closing.

Responsibilities

• Maintains knowledge of all policies and modifications to the guidelines and standards of the company, federal housing programs, investors, and private mortgage insurers.
• Maintains and updates loan application information within loan origination software and other applications.
• As applicable, orders appraisals, title, survey, verifications, and any other items required for loan approval; conducts regular follow-ups with outside sources regarding outstanding documents.
• Verifies the data collected, analyzes, and decides whether it meets guidelines or if other documentation is needed; documents communication through the conversation log; ensures loan application is in compliance with underwriting, investor, RESPA, and HMDA guidelines.
• Calculates income, reviews assets and liabilities.
• Reviews all disclosures for completeness and compliance.
• Completes final evaluation and analysis of completed application packages and submits eligible files specifying any applicable conditions.
• Maintains accurate pipeline to ensure proper projections, and closing dates.
• May schedule closing appointments with respective parties (i.e. title companies, closing attorneys, corporate closing department and customers etc.).
• Sets up and maintains loan file folders.
• Meets customer service standards as outlined by management.
• Updates loan officer, loan officer assistant, realtors, builders and customers on loan status.
• Maintains communication with customers throughout the loan process, assisting them with any questions and notifying them of any additional requirements.
• Senior Processors may provide training and guidance to other Processors on the team.

Qualifications

• Highschool diploma; or general education degree (GED) required
• Minimum 5 Years mortgage banking experience as a processor or junior processor, required
• Must have working knowledge of Fannie Mae/Freddie Mac and FHA/VA policies and guidelines, and Regulatory Mortgage Compliance
• Must have working knowledge of Encompass or other LOS systems
• Proficient in Excel, Word, and Outlook, with the ability to learn other mortgage-related programs
• Excellent written and verbal communication skills
• Excellent organizational and time management skills
• Demonstrated ability to interact effectively with others both internal and external
• Demonstrated judgment and decision-making ability
• Ability to work overtime, when necessary

Benefits

Base Salary: The expected base salary for this position is between $60,000 to $80,000 per year, depending on experience and skillset. Base salary is paid bi-weekly.

Universal Lending Corporation offers a competitive compensation package based on experience and skill, including a comprehensive benefits package inclusive of Medical, Dental, and Vision.

Physical Requirements

This is primarily a sedentary position. Requires the ability to hear, type and talk. Finger dexterity is required to operate a computer keyboard. The primary work location is a corporate office with low to moderate noise levels.

Supervisory Responsibilities

This position does not supervise other employees.

Travel Requirements

A valid driver’s license and active vehicle insurance is required at all times.

FLSA Classification

Non-Exempt