Senior Mortgage Loan Processor Job Description
SUMMARY OF ROLE: This is a Work from Home opportunity Acquires experience, skills and knowledge to perform Loan Processor duties and manage a pipeline under the daily guidance and direction of the Processing Manager.
COMPENSATION: On Target Earnings for closed loan bonuses is 60,000 - 80,000 annually.
ESSENTIAL DUTIES AND RESPONSIBILITIES OF SENIOR MORTGAGE LOAN PROCESSOR:
- Evaluates loan packages for missing and/or incomplete information
- Performs consumer calls and maintains constant communication
- Performs portfolio updates every 48 hours to LOS
- Pre-Audits and prepares quality filed that meet UW and closing objectives
- Reviews DU findings to ensure proper conditions are met
- Clears stipulations from underwriters and works with underwriters to obtain a final decision
- Understands where to research information Mortgage Consultant, Processor, LO, Software (Maxwell)
- Attends meetings as necessary
- Comprehends internal overlays and resources available with knowledge of where and how to use them
- Communicates with LOs as needed
- Performs analysis of income, asset, credit, AUS DU/LP
- Ability to manage an active portfolio of 20+ files with a 60% fund ratio
KNOWLEDGE, SKILLS, AND ABILITIES REQUIRED FOR SENIOR MORTGAGE LOAN PROCESSOR:
- 5+ years experience in loan processing as a Loan Processor, Loan Assistant, Loan Coordinator, or related position in Mortgage Lending. Similar experience in banks will not be considered.
- Completion of a high school diploma or higher education level
- Strong time management skills
- Ability to understand and execute within multiple IT applications
- Ability to read, analyze and interpret complex documents.
- Ability to comprehend basic math skills using whole numbers, common fractions and decimals, (loan amount, asset. income calculations, etc.)
- Ability to exercise professional behavior, judgement and persuasiveness with internal and external customers.
- Ability to define problems, collect data, establish facts and draw valid conclusions.
- Ability to multi-task and set priorities
- Ability to work with basic mortgage industry software and Microsoft Office Suite
- Working knowledge of Investor guides (FNMA, FHLMC, FHA, VA, Jumbo, Other Government Products)
- Specialized training: de-escalation, file control