Processor

SUMMARY/OBJECTIVE:

A loan processor reviews loan applications before sending them to the underwriter for approval. As a loan processor, your responsibilities and duties include organizing required documents and verifying the accuracy and completeness of the loan application. You work as the intermediary between the loan officer and the underwriter, so you will not usually have direct contact with the customer.

ROLES AND RESPONSIBILITIES:

• Act as a liaison between applicants, mortgage brokers and loan officers, real estate agents, and mortgage lending underwriters to help further loan approval
• Ensure loan files meet lending and regulatory guidelines and policies
• Order property and loan documentation such as appraisals, inspections, title searches, site surveys, contracts, and property tax records to help process mortgage loan files
• Collect and verify necessary financial documentation, such as credit reports, to complete mortgage loan applications and determine creditworthiness
• Prepare and submit detailed loan packages to the lender underwriting department for approval or denial
• Other duties as assigned by management

QUALIFICATIONS:

• Mortgage lending experience and loan knowledge required, specifically with FHA, FHLB, FNMA, or VA loans
• High school diploma or GED required – associate degree in accounting, finance, or business preferred
• 2 years minimum experience in loan processing required
• Must possess exceptional attention to detail, as well as strong analytical and time management skills
• Must have excellent written and verbal communication skills