Mortgage Processor

Overview

Performs a variety of loan processing and pre-underwriting duties in support of the residential lending activities in conformance with established Bank policies and procedures. This is a hybrid position requiring no less than three (3) days on-site in the office.

Responsibilities

• Processes residential mortgage loan applications.
• Collects reports and appraisals, inputs loan data, requests and ensures the receipt of required verifications and other various supporting documents.
• Review and enter application data in loan origination software.
• Collect, track, and scan borrower documents.
• Make calls to verify employment and insurance coverage.
• Knowledge of Secondary Market Underwriting Guidelines.
• Covers the process of submitting Correspondent Loans to investors, including Rhode Island Housing’s Tax Credit Program (MCC).
• Order and track title orders, appraisals, tax transcripts, property tax information, and pay-offs.
• Contact customers to provide updates on their loan process and to resolve issues / problems.
• Reviews collected data and pre-underwrites loans within the limits of authority.
• Makes sure pending loan files comply with applicable Bank policies, procedures and regulatory requirements.
• Keeps up-to-date with developments in the residential lending field related to loan processing and underwriting.
• Attends relevant courses and seminars.
• Demonstrate a thorough working knowledge of company guidelines and policies as well as all applicable laws and regulations related to mortgage lending in order to ensure compliance.
• (TRID, Reg B, Reg Z)
• Demonstrate a high level of professionalism and integrity in all internal and external interactions with colleagues, customers and vendors.
• Able to multi-task in a fast-paced environment and manage assigned pipeline using reports to meet rate lock dates, mortgage contingency dates and closing dates.
• Facilitate the Construction Disbursement process post-closing by serving as customer point-of-contact and obtaining appraisal inspections & title rundowns.
• Continually strives to improve the department’s efficiencies.
• Communicates professionally in oral and written format with internal and external customers.

Qualifications

• High school or equivalent plus specialized course work and training.
• At least three years of experience in mortgage lending with two years’ work as a processor.
• A demonstrated understanding of mortgage loan procedures and regulatory requirements and the ability to analyze and interpret personal, corporate and partnership tax return and financial statements.
• Proven organizational, oral and written communications, problem solving and analytical skills and interpersonal skills.
• Must possess a high degree of accuracy and attention to detail.
• Must be able to work independently as well as on a team.
• Must have working knowledge of Windows, Word, Excel and Desktop Underwriter as well as loan origination systems.