The primary objective of Mortgage Loan Processor is to manage pipeline of loans within required performance standards. Order and obtain necessary documents from the customer, Title companies, Appraisal companies, Subordination lender relevant to the loan application.
Upon order and receipt of documentation, review and approve per authority level. Submit loans to underwriting for conditional review and full approval. Hand-off to closer after performing pre-closing steps.
The job entails high level of problem solving skills and ability to multitask in a fast paced environment. It also involves high level of customer service skills.
a. The primary responsibilities for a Mortgage Loan Processor are as follows:
i. Follow up through calls/emails with the Lender customer regarding loan status in accordance with the Lender's policy and procedures and within the standard performance levels defined by the Lender. ii.
Follow up with different third parties like Title company, Subordination lenders, Insurance companies to obtain documents or information pertaining to the loan file. iii. Enter accurate and timely loan information into the Lender's processing system. iv. Upon order and receipt of loan documentation, review the documentation and approve the loan as per authority level.
A loan processor is supposed to obtain first level signature authority to approve Processor conditions v. Submit loans to underwriting for conditional review and final decision. vi. Coordinate with Lender's Sales team prior to withdrawal of a loan application. vii. Hand-off internally to closing unit after performing pre-closing steps.
b   ; Below are some of the skill set requirements for a Mortgage Loan processor
i. Minimum of 2 years of experience in Mortgage Loan Processing
ii. Excellent customer service and communication skills.
iii. Ability to prioritize complex diversified responsibilities and multi-task in a fast-paced environment.
iv. Organizational and time management skills to balance workload and meet deadlines.
v. Must be willing to assist teammates and build strong relationship with sales partners to achieve closing goals.
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