MORTGAGE LOAN PROCESSOR

About the role

Responsible for processing mortgage loans requests for submission to underwriting. Assists assigned loan officers in handling customer requests in a professional manner. This position is a “loan originator” as defined by Regulation Z (12 CFR 1026.36(a)) due to customer disclosure duties. Loan originators are required to satisfy and maintain qualification requirements as outlined in 12 CFR 1026.36(f) and documented in Southside policies and procedures.

Responsibilities

• Obtains supporting documentation for credit evaluation and subsequent processing including but not limited to proof of income/assets, credit bureau reports, appraisal, and title work.
• Scrubs documentation thoroughly for accuracy.
• Enters customer mortgage application information in the loan processing software system.
• Reviews the application to make sure it is completed in full. If not, requests that the Loan Officer complete the application.
• Orders all third-party services required for the processing of a loan, including but not limited to: Title, appraisal, insurance, survey, flood, credit and verifications (such as employment, rent, etc.)
• Answers phones/questions from customers and internal staff on loan products offered, loan status, and processes/procedures, both in person and over the phone.
• Reviews loan packages for completeness and accuracy before forwarding to underwriting or assigned officer for approval.
• Communicates on a frequent basis with mortgage related vendors to ensure proper credit evaluation, interest rate lock, and processing of mortgage loan files.
• Works with other department personnel to clear underwriting conditions in a timely manner and submit file to Closing.
• Prepares and mails correspondence to customers and staff as needed and requested by authorized persons.
• Attends product, policy, and procedure training meetings as requested.
• Possesses knowledge of state and federal mortgage lending regulations and their