Mortgage Loan Processor

Key Mortgage Services Schaumburg , IL 60173

Posted 3 weeks ago

Local independent and family-owned lender, Key Mortgage, is growing and in need of experienced Loan Processors. Our Processors are an integral part of our team as they are responsible for the thorough process of reviewing, preparing, and verifying loan applications and supporting documentation from our loan officers and submitting the verified loan files to underwriting.


  • Review daily reports each morning to identify priorities or issues that need to be escalated to a supervisor.
  • Managing a pipeline of loans while maintaining high level of customer satisfaction.
  • Calculate income, assets and debt ratios.
  • Analyze the title report, purchase contract and appraisal on files for compliance.
  • Perform verbal verifications of employment.
  • Communicate clearly and professionally with all customers, co-worker, supervisors and management.
  • Ensure that the customer understands requests and time requirements.
  • Ensures loan quality standards are met, including the review and resolution of any red flags in a file and the satisfaction of all conditions
  • Required to open new loan submissions within 72 hours and validate all file information to ensure that all issues are identified so they may be resolved early.
  • Contact the borrowers with a welcome call within the opening and validating period to ensure all required documentation is in the file to issue a credit decision.
  • Ensure loan approval can be accomplished by the contingency date and that closing can be accomplished by the estimated closing date.
  • Gather and review all documentation needed for the loan.
  • Adhere to checklists and procedures.
  • Create notes and a record of all requests in system to document issues or escalations.
  • Prepare loan packets to submit to in-house underwriters or investor underwriters for approval.
  • All Loan Processors will also act as a back-up for other Team Members in processing due to scheduled and unscheduled absences or as volume dictates.
  • Other duties as assigned by manager.


  • Must be fluent in English and Polish (both written and verbal)
  • Knowledge of Secondary Market guidelines and standards
  • Knowledge of FNMA and Freddie Mac guidelines.
  • Knowledge of TRID, Know before you owe, Regulation B ECOA and other mortgage banking related guidelines.
  • Familiarity with industry quality control standards and fraud detection methods
  • Experience with POS approval processes using LP, DO/DU and other AUS
  • Proficient computer skills including Microsoft Word, Excel and Outlook.
  • Excellent people skills.
  • Excellent verbal and written communication skills
  • Has the ability to multi-task in a very fast paced environment
  • Possesses excellent organizational skills
  • Has superior attention to detail
  • Proficient knowledge of office machines (faxes, computers, printers, adding machines and telephones).
  • Must be able to work independently and research problems / questions as required.


  • Minimum of 3 years loan processing experience including conforming conventional, FHA, 203K, VA, USDA, IHDA, Chicago Tax smart programs and sub-prime loans.
  • High School Diploma or equivalent required


When you show your people some love, good things happen.

Whether youre a loan officer, operations staff member, or another part of the Key Mortgage team, we care about the people we hire. As a local, independent, family-owned business, Key Mortgage feels like a big family because thats exactly what we are. Were behind you every step of the way in your career and are ready to help you boost your business in any way we can. Support starts day one, so you can focus on whats most important to you delivering the highest quality service to your customers.

Benefits include

  • Medical
  • Dental
  • Vision
  • 401k with matching
  • PTO
  • VTO
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Key Mortgage Services