Mortgage Loan Processor

Pro Search, Inc | ME

Posted Date 11/08/2019
Description

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.

RESPONSIBILITIES:

  • 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  • Processes denied and withdrawn loan requests including HMDA sheets.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.

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