Loan Processor III

About the role

Process and pre-underwrite conventional, FHA, VA and Bond mortgage loans to ensure compliance with Company, secondary market investor, and government agency standards. Achieve production and quality metrics. Serve as liaison between loan officer, borrower, underwriter, and funding. Prepare and review loan files for completeness, compliance, and timely closure.

Responsibilities

• Become the primary contact for non-licensed activity once the loan is submitted.
• Monitor the overall lending process; identify, resolve, and communicate issues that could impact timely loan closure.
• Analyze loan-to-value ratio, debt-to-income ratio, credit report, application, income, assets, and source(s) of down payment funds; examine supporting documentation to identify potential fraud or misrepresentation.
• Order and review all third-party documentation (credit checks, title reports, appraisals, tax returns, verifications of employment/assets) to identify and address potential issues.
• Stay current with federal, state regulations, policies, and industry trends.
• Check ratios and verify accuracy of Automated Underwriting System (AUS) findings and program applicability.
• Review and verify documentation integrity to ensure alignment with findings, completeness, and compliance; submit loan file to underwriting for approval.
• Identify qualifying/program issues prior to submission to underwriting; restructure loans as necessary.
• Provide options within guidelines and make recommendations if borrowers may qualify for suitable programs.
• Update and verify accuracy of data input into the system.
• Verify compliance with Company standards, federal and agency regulations, and any applicable state/local regulations.
• Obtain and verify clearance of all underwriting conditions; prepare the file for submission to closing.
• Order generation of loan documents.
• Coach and provide guidance to less experienced processors as needed.
• 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/technical training related to Business, Finance/Accounting, or Legal preferred.
• Five or more years of recent experience as a Loan Processor, preferably processing conventional and FHA loans, with at least two years of experience processing VA and Bond mortgage loans.
• Expert knowledge of overall mortgage lending processes, federal/state/regulatory requirements, and guidelines for conventional, FHA, VA, and Bond mortgage loans.
• Expert knowledge of conventional, FHA, VA, and Bond mortgage loan products/programs, necessary conditions for approval, and investor-specific guidelines.
• Expert knowledge of new construction documentation and condominium projects.
• Expert knowledge of valid documentation related to processing consumer mortgage applications (e.g., complex tax returns, financial statements, verification of income and deposits).
• Sound judgment and critical thinking, including evaluating facts/data to draw conclusions, assess downstream impacts, and determine associated risks.
• Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
• Excellent customer service, interpersonal, verbal, and written communication skills.
• Intermediate math skills.
• Strong detail orientation and organization.
• Proficiency in Microsoft Office Suite (Word, Excel), collaborative cloud-based programs, and third-party software applications.
• Commitment to company values: Customer Service, Integrity, Respect, Collaboration, Learning, and Excellence.

Skills

• Excellent verbal and written communication.
• Highly organized and detail-oriented; ability to work in a fast-paced, metrics-driven environment.
• Proficiency in Microsoft Office Suite, Word, Excel, Wiki, and collaborative cloud-based programs.

Supervision

• Supervision is intermittent to infrequent depending on experience.
• Moderate to high level of independent judgment and discretion related to areas of specialization.
• May provide guidance to less experienced team members to resolve/escalate complex issues.
• Exercise sound judgment in executing core job responsibilities.
• Average monthly pipeline is 14 loans.
• Travel: 0%.

Physical Requirements

• Physical: Work is primarily sedentary; mobility in an office setting.
• Manual Dexterity: Frequent use of computer keyboard and mouse.
• Audio/Visual: Ability to accurately interpret sounds and meanings at conversational volume. Regularly required to perceive, distinguish, and interpret information received visually and through audio (e.g., words, numbers, data).
• Environmental: Office environment with no substantial exposure to adverse conditions.

Pay

Target salary range: $28.85/hour. This position offers eligibility for incentive compensation. Compensation at Guild is influenced by factors including local and federal minimum wage requirements, education, level of experience, and geographical location.

Benefits

• Medical, dental, and vision insurance.
• Life insurance and AD&D.
• Long-term disability (LTD).
• 401(k) with employer match.
• Pleasant work environment and competitive compensation.