Senior Mortgage Loan Processor

About the role

The role involves verifying the accuracy and acceptability of the information received. It requires a basic knowledge of mortgage documents, reviewing underwriting conditions, acquiring required documentation, and presenting the loan package to an underwriter for final decision.

Responsibilities

• Reviews and inputs incoming documents (i.e. VOE, VOD, credit, etc.) into Mortgage Loan Operating System (LOS).
• Reviews residential loan application file to verify that application data is complete and meets establishment standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment.
• Reruns Automated Underwriting System (AUS) to ensure same automated decision is applicable.
• Recommends that loan not meeting standards be denied.
• Calls specified companies to obtain property abstract, survey, and appraisal if needed.
• Determines if appraisal is to be ordered and what type.
• Reviews appraisal for errors and meets underwriting criteria and notifies lender of any discrepancies.
• Informs supervisor of discrepancies in title or survey.
• Assembles file in electronic imaging system and reviews for completeness and accuracy.
• Notes the estimated closing date and type of transaction.
• Reads notepad for pertinent information not obvious in file, identifies missing items and notifies appropriate party.
• Orders updates to credit report.
• Requests needed documentation not previously requested.
• Reconciles LOS and AUS.
• Gathers all required documentation prior to closing and resubmits for final approval.
• Sends out construction package if necessary to branch lenders.
• Prepares closing sheet and sends file to closing department for settlement.
• Notes denial or withdrawal status in LOS and prints appropriate package.
• Sets up and submits denied files to underwriting for review and signatures.
• Reconciles fees to determine if funds are missing.
• Records data on status of loans, including number of new applications and loans approved, canceled, or denied.

Supervisory Responsibilities

This job has no supervisory responsibilities.

Qualifications

• High school diploma or general education degree (GED); Bachelor’s degree preferred
• 4-6 years related experience and/or training; 4-6 years mortgage lending or similar financial experience and/or education preferred
• Equivalent combination of education and experience considered

Skills

• Basic knowledge of mortgage documents
• Review underwriting conditions
• Acquire required documentation
• Present loan package to underwriter
• Operate related equipment
• Read and interpret documents
• Travel if required
• Lift/move/carry approximately 10 pounds

Benefits

No specific benefits are mentioned in the job posting.

Pay

No specific pay details are provided in the job posting.

Schedule

No specific schedule details are provided in the job posting.