Loan Processor II

About the role

Process residential mortgage loans, achieve production and quality metrics, and act as a liaison between loan officer, borrower, underwriter, and funding. Prepare and review loan files to ensure completeness, compliance with underwriting and investor guidelines, and timely closure. Monitor the overall loan processing cycle, resolve issues, and communicate status updates to stakeholders.

Responsibilities

• Become the primary contact for non-licensed activity once the loan is submitted.
• Monitor the overall lending process, identify and resolve issues impacting timely loan closure, and communicate them to consumers and loan officers.
• Request supporting documentation from borrowers within required timeframes.
• Order and review third-party documentation, including credit checks, title reports, appraisals, tax returns, and verifications of employment/assets to address potential issues.
• Check ratios and verify accuracy of Automated Underwriting System (AUS) findings and program applicability.
• Review and verify documentation integrity for completeness, compliance, and alignment with findings before submitting to underwriting.
• Identify qualifying or program issues prior to submission to underwriting.
• Provide options within guidelines and recommend suitable programs if borrowers may qualify.
• Update and verify accuracy of data input into the system.
• Ensure compliance with company standards, federal and agency regulations, and state-specific or local ordinances.
• Stay current with federal and state regulations and industry guidelines.
• Obtain and verify clearance of all underwriting conditions and prepare the file for submission to closing.
• Order generation of loan documents.
• Use and modify templates to compose professional correspondence and emails.
• Provide status updates to loan officers and/or borrowers.

Requirements

• High school diploma or equivalent required; college courses or technical training in Business, Finance/Accounting, Legal, or related fields preferred.
• Two or more years of recent experience as a Loan Processor, including at least one year processing FHA or VA loans.
• Detailed knowledge of mortgage lending processes, federal/state regulations, and guidelines for conventional, FHA, or VA loans.
• Familiarity with valid documentation for processing mortgage applications (e.g., tax returns, financial statements, verification of income/deposits).
• Ability to prioritize tasks in a deadline-driven environment with strong urgency and responsiveness.
• Excellent customer service, interpersonal, verbal, and written communication skills.
• Intermediate math skills and strong detail orientation.
• Proficiency in Microsoft Office Suite (Word, Excel), collaborative cloud-based programs, and third-party software applications.

Skills

• Excellent verbal and written communication.
• Highly organized and detail-oriented; ability to work in a fast-paced, metrics-driven environment.
• Commitment to company values: Customer Service, Integrity, Respect, Collaboration, Learning, and Excellence.

Supervision

Work with moderate to intermittent guidance depending on experience. Moderate level of independent judgment and discretion related to specialization. Guidance provided for resolving high-complexity issues. Average monthly pipeline is 14 loans. No travel required.

Physical Requirements

• Primarily sedentary work; occasional walking or standing.
• Frequent use of computer keyboard and mouse.
• Ability to accurately interpret sounds and meanings at conversational volume.
• Regularly required to perceive, distinguish, and interpret visual and auditory information (e.g., words, numbers, data).
• Office environment with no substantial exposure to adverse conditions.

Benefits

• Medical, dental, and vision insurance.
• Life insurance, AD&D, and long-term disability (LTD).
• 401(k) with employer match.

Pay

Target salary range: $52,000. Eligibility for incentive compensation. Compensation influenced by factors including local and federal minimum wage requirements, education, experience, and geographical location.