Processor

Responsibilities

• Enter all data on new loans as received into the computer system as needed for initial submission through the appropriate Loan Origination System (LOS).
• Maintain an open line of communication with the borrowers, loan originator, underwriter, realtor, and/or builder throughout the entire process assisting each as needed.
• Monitor all incoming mail and documents for verification information on data used to obtain any loan approval.
• Log all incoming data into the LOS for tracking purposes.
• Register loans and obtain FHA and VA I.D. numbers, as applicable.
• Order credit report and private mortgage insurance from Company approved service providers, as required, by the loan approval.
• Order, obtain, review, and approve any required appraisal documentation from a Company approved appraiser, as required by Company or investor guidelines for the product under which the loan was originated/approved.
• Prepare all loans approved for closing by collecting/obtaining all information/documentation required to clear any underwriting approval conditions.
• Obtain any clear/satisfactory certifications required by the loan approval, property type, investor/insurer guidelines and/or appraisal.
• Notify Closing Department of all loans scheduled to close and supply them with the file at least 48 hours prior to the scheduled date.
• When loans are scheduled for closing, responsible for delivering a completed package to Closing Department to ensure approved credit package has the appropriate information.
• Complete all Company mandatory trainings within the required timelines.
• Ensure Documents To Closing Within 48 Hours.
• Productive weekly or regularly scheduled status calls.
• Weekly pipeline meeting with Processors.
• Pre-Close Checklist with Client 48 hours prior to closing.
• Attend Closing if Loan Originator is unable to do so.
• Call and get all conditions.
• Working With Clients Research Client Scenarios with Underwriting and Investor Guidelines.
• Assist Loan Originators with callbacks of borrowers to set up face-to-face appointments only.
• Discussion of loan terms are not permitted.