Mortgage Loan Processor

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Review new file within 48 hours of receipt and verify that compliance documents were issued within proper time frame. Notify the appropriate staff member if any additional documentation or information is needed.
• Maintain pipeline of 15 files and/or eight Loan Originators. Order all necessary documents to satisfy AU and/or product requirements from Loan Originator, customer or Vendor. Track all requested documents in Encompass.
• Review documentation received within 24 hours of receipt for discrepancies, omitted data, calculate verified income, verify assets and update Encompass based on verified information. Immediately notify Loan Originator of any documentation discrepancies. Loan Originator will determine necessary remedies.
• Prepare loan for underwriting submission by utilizing investor's submission checklist. Clear any approval or suspense conditions as outlined by the underwriter. Ensure that all appropriate closing documentation is in the loan file (i.e. title documentation, homeowners’ insurance, etc.). Documents must be reviewed within 24 hours of receipt and communicated with Loan Originators.
• Lend loans to meet contract deadlines and rate lock expiration dates. File to be given to closing department within timelines established by WMC.
• Assist other processors, Underwriters and Closing departments as needed. Respond to customer inquiries and other related parties on a transaction as needed. Assist in the clearing of any post-closing conditions and ensuring WMC does not incur any financial loss.

EDUCATION AND/OR EXPERIENCE

• A high school diploma or general education degree (GED) is required.
• One year or more of continuous current retail Mortgage Processing experience is required, three or more years is preferred.
• Experience in Encompass mortgage loan processing system is required.
• Must be able to independently calculate all types of self-employed income.
• Knowledge of FNMA, FHLMC, FHA, & VA underwriting guidelines.
• TRID knowledge is required.
• Proficiency with AUS systems.

CUSTOMER SERVICE SKILLS

• Using excellent customer service skills, which include maintaining a good attitude, taking ownership of meeting customer needs, going above and beyond for customers, demonstrating a commitment to sharpening skills through education and training, using positive communication, and looking for opportunities to respect customers’ time and schedules.

QUALIFICATIONS

• This position may require registration under the National Mortgage Licensing System (NMLS) if processing a loan originated in a state that requires federal registration. Individual must be in good standing with or be approved by NMLS in accordance with the S.A.F.E Act.
• Individuals in this position shall not engage in loan origination during the course of his/her employment with WMC. Loan origination is defined as (1) taking a residential mortgage loan application; or (2) offering or negotiating terms of a residential mortgage loan for compensation or gain; (3) advertising or communicating to the public that you can perform loan origination services. Please see the Loan Originator Compensation Policy for more details on the definition of loan origination.