Mortgage Loan Processor

Description The estimated starting salary for his position is $59,664-$74,568 per year. Duties and Responsibilities/Results: Implements the processing of Retail and Wholesale mortgage and consumer loan applications by reviewing new applications submitted into the loan origination system. Prepares loan application for submission to Underwriting. Evaluating housing and debt ratios and determining their acceptability according to all lending policies and/or secondary market guidelines. Ordering and evaluating credit report, appraisal, property report and flood certification, as applicable. Verifying employment/income, asset and any other indebtedness not included in credit reports, as applicable. Reviewing file for accuracy of verified information and completeness of all necessary disclosures as required by federal and state regulations. Updates and maintains accurate and current recorded data into the loan origination systems. Ensures appropriate forms as required have been appropriately obtained and are a component of all application packages. Analyzes loans not meeting lending policies and determine recommendations for non-approval action such as Suspensions, Offers and/or Declines. Prepares revised disclosures as needed and Commitments of approval, in accordance with all lending regulations and ensures delivery to customer, Bank Attorney, and Broker if applicable. Ensure the accuracy of the submission of required HMDA and Compliance data. Ensures the closing process by reviewing committed files to ensure that all documents and outstanding conditions necessary to close the loan are present and accurate. Ensures the integrity of the pipeline by updating expired documents, as well as tracking all expiring commitments and notifying the applicant of the expiration. Ensure a quality loan portfolio by a thorough review and analysis of processed applications and documentation by verifying consistency and accuracy of prepared and broker submitted documents and making the necessary corrections where errors are found; also interact with staff as well as applicants, brokers and attorneys regarding resolution of outstanding issues prior to closing. Assists in resolving problem situations prior to closing by communicating with applicants, consultants, brokers and/or attorneys. Responds to inquiries regarding mortgage and consumer loans via telephone and/or e-mail. Helps out whenever necessary by performing other related duties which may be required from time to time. Job Specifications: High School Diploma or G.E.D. equivalent Good organizational skills with the ability to communicate and interact effectively with the public, supervisors and other support areas. A minimum of two years related mortgage and consumer loan experience is required. Proficiency with loan origination software, such as LendingPad A knowledge of Federal and State Regulations and Secondary Market requirements as well as internal Bank policies. Strong attention to detail and accuracy Knowledge of Underwriting SONYMA loans beneficial but not required.

Created: 2024-11-05