Our client, a banking organization in downtown Portland is seeking an experienced Mortgage Loan Processor to perform a variety of administrative tasks related to the documentation, processing and closing of mortgage and consumer loans. Provides exemplary internal and external customer service.
- Reviews mortgage loan files submitted by the Mortgage Loan Officer to verify all application data and supporting documentation is complete and meets bank and investor standards.
- Requests missing and/or corrected documentation as needed from the MLO or borrower.
- Prepares and provides electronic and secure disclosures directly to the borrowers.
- Prepares and sends correspondence to borrowers to advise them of outstanding conditions (Welcome letter and Commitment letter).
- Refers questionable loans to underwriting for review.
- Ensures each loan is processed in accordance with all government and bank regulations.
- Interacts with MLOs, borrowers, brokers, and vendors to keep them informed of progress and ensures issues are resolved in a timely manner.
- Submits applications for approval to AU engines, other investors and private mortgage insurance companies as needed.
- Registers Government loans with appropriate agency (FHA, VA, MSHA, and RD).
- Requests credit reports, title searches, flood certifications, employment and asset verifications and appraisals from appropriate vendors.
- Reviews underwriting sheets to confirm all required conditions are requested, received, reviewed, and approved in a timely manner.
- Signs off on file conditions as necessary.
- Performs a final review of the file and updates information on appropriate loan system; then submits the file to underwriting for final approval and clear to close.
- Completes closing worksheets and prepares files for closer. Also assists closer as needed.
- Processes denied and withdrawn loan requests including HMDA sheets.
- Cross checks HMDA sheets for other loan processors.
- Monitors Pipeline reports for Reg B purposes, rate lock expirations and purchase & sale contract expirations.
- Prepares and analyzes weekly loan pipelines for each assigned MLO and updates the MLO as to the status of each loan.
- Proficiency with loan policy, products, procedure manuals, and investor guidelines (FHLMC, FNMA, VA, MSHA, RD, and FHA).
- Ensures the integrity of data under the scope of job responsibilities.
- Stays abreast of changes in loan regulations.
- Assists other processors when available and necessary.
- Trains to learn and understand the underwriting function and foresee potential conditions and issues.
- Works with MLO’s and fulfillment staff to streamline and improve processes.
- Other duties as assigned.
- Successfully pass technical and regulatory examinations by the Company.
KNOWLEDGE, SKILLS AND ABILITIES:
- Basic computer and word processing skills
- High attention to detail and accuracy and ability to follow up
- Good organizational skills
- Familiarity of real estate transactions
- Proficient knowledge of Flood policy, Reg B, HMDA, and CRA
- Good communication skills
- Knowledge of basic office equipment
- Basic accounting skills
- High school diploma or equivalent
- Proficiency in loan processing (consumer, commercial or mortgage)
- 3 years banking or related experience
- Ability to communicate with customers and branches
Successful candidates will have 3+ years of mortgage processing experience and the ability to work independently.
Salary will depend on experience.