Mortgage Loan Processor

The Mortgage Loan Processor is responsible for processing loan files by verifying the information the applicants supply on the application, documenting it in accordance with the terms and conditions of the loan approval, and providing the information necessary for the closing of the mortgage loan. This involves the verifying of the applicant's income, assets, liabilities and collateral value. It may also involve gathering additional documentation required to qualify applicant for various grant programs. This position is remote within the states of Mississippi, Alabama, Tennessee, Louisiana and Arkansas.

Primary and Essential Functions

• Review file received from originator/correspondent lender for necessary documentation and disclosures.

• Review the file input in mortgage software and any grant specific software.

• Follow-up on any documentation that has not been received, including ordering the appraisal, FHA/VA case numbers, and alternative documentation if required, etc.

• Follow-up on any grant specific documentation that is needed.

• Order Credit Alert Interactive Voice Response System (CAIVERS), check Limited Denial of Participation (LDP)/General Services Administration lists.

• Evaluate documentation received for correctness and completeness.

• Prepare file for submission to underwriting and grant program underwriter or coordinator.

• Follow-up on any additional requirements by underwriter and/or grant program underwriter or coordinator.

• Complete information necessary for the closing of the loan including contacting the attorney for setting the closing date, insurance agent for insurance policy, flood cert, etc.

• Provide the loan closing documents for grant programs.

• Communicate with the originator and applicant concerning the progress of the loan file.

• Complete denial/cancellation procedures on all files that are denied or cancelled.

• Deliver post closing documents to grant providers as required.

• Provide excellent internal and external customer service.

Secondary Functions

• Perform general administrative duties such as attending meetings, report production, etc.

• Complete tracking of file in mortgage software.

• Send updates of file progress to Realtor, etc.

• Work with other departments when needed on projects related to the mission of HOPE.

Competencies/Skills

• Excellent Customer Service, written and verbal communications skills

• Keen analytical skills

• Working knowledge of word processor, spreadsheet, other PC applications, or mainframe applications to produce non-standard, creative products

• Ability to read and interpret documents, write routine reports and correspondence

• Ability to compute rate, ratio, percent, and interpret data

• Ability to effectively use DU/Total Scorecard & GUS

• Ability to apply commonsense understanding to carry out detailed but uninvolved written or oral instructions

• Ability to deal with problems involving a few concrete variables in standardized situations

• Knowledge of regulations and requirements of investors, federal regulations and compliance in mortgage lending

Desired Qualifications

• Bachelor's degree in relevant field preferred or equivalent experience in mortgage lending

• Three years' experience in residential mortgage loan processing and/or closing

• Demonstrated strength in ability to manage multiple projects at once while maintaining appropriate attention to details

Physical Demands

• Employee is regularly required to sit, stand and walk.

• Employee will use hands to finger, handle or feel, reach with hands and arms, and talk or hear.

• Employee must regularly lift and/or move up to 10 pounds and frequently lift and/or move up to 25 pounds.

• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Work Environment

• Employee spends the majority of time in office environment, generally accessible to the public, customers, and potential customers

• Noise level in the work environment is usually moderate

• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.