Client is a correspondent mortgage lender based in Midwest. The Company is in an active growth mode as they are actively expanding their presence into new markets.
Summary: Evaluate all information supplied on residential loan applications. Verify, through outside sources, the validity of the information. Calculate debt-to-income and loan-to-value ratios. Assemble a completely documented file and submit it to underwriting for a decision on whether the loan application should be approved.
- Maintain updated manual of all policies and modifications to the guidelines and standards of the company, federal housing programs, investors and private mortgage insurers.
- Assist junior processors when necessary.
- Open files: order credit reports and appraisals and send out verification forms; and conduct regular follow-ups with outside sources for outstanding documents.
- Update Realtors and loan officer on file status.
- Maintain communication with applicants throughout the processing period, assisting them with any questions and notifying them of any additional information required.
- Monitor incoming mail for information verifying the data collected by loan officers; log into file and computer system; track development of information to ensure compliance with underwriting guidelines.
- Process requests for extensions to the applicants’ commitments in accordance with company policies.
- Complete final evaluation and analysis of completed application packages and prepare files for approval, specifying any applicable conditions to the approval; review the commitment and any additional required disclosures.
- Assemble and print submission documents; assemble submission files and prepare files for closing department review.
- Notify borrowers and Realtors of underwriting decision.
- Prepare, when applicable, “Decline Letters” and ensure accurate disclosure of the reason(s) for the adverse action as soon as it is determined that applicants do not qualify.
- Maintain records of all loans in process.
- Maintaining strict client and company confidentiality is a priority.
Compensation: This is an excellent opportunity to make a significant contribution to the continued success of this company. We offer a competitive compensation package, commensurate with experience, background and performance.
- College degree preferred but may substitute equivalent experience
- Minimum of 3 years mortgage processor.
- Working knowledge of FHLMC, FNMA and FHA/VA guidelines and private mortgage insurance requirements.
- Good written and oral communication skills.
- Ability to interact effectively with customers and other company staff to resolve problems.
- Analytical ability, with an aptitude for figures. Typing and Computer Skills required
Benefits : Our benefits include Blue Cross Blue Shield Medical, Dental, Life Insurance, Long and Short Term Disability, FLEX spending and 401k match.