Job Description
Name of Company
Job Description: Processor
Reports to:
Purpose:
|The processor ensures that the loan packages are accurate and complete with the required information filed correctly. Communicates with borrowers, |
|Realtors, escrow, title, attorneys, lenders, appraisers and the team, keeping them updated on the status of the loan, clarifying the loan process and |
|requesting information needed for the file. Needs to be assertive and capable of independently handling issues surrounding title and underwriting needs.|
|Ensures that all loan transactions meet underwriting and post-closing conditions. Must recognize opportunities to ‘sell’ the team to all that are |
|associated with the loan process. |
Personal Characteristics
|Strong work ethic |Attention to detail |
|Works effectively with assertive temperaments |Flexible and accepts change |
|High level of concentration |Builds rapport and confidence quickly |
|Communicates with candor |Honest and trustworthy |
|Operates with minimal supervision and latitude for independent action |Disciplined personal planning and time management skills |
|Respectful of others |Good listener |
|Analytical |Patient |
|Reliable |Conscientious |
Professional Characteristics
|Excellent organizational skills |Database management skills |
|High accuracy and quality-minded |Builds trust with clients, co-workers and referral partners |
|Software competence including ACT!, MS Word, Excel, PowerPoint, Internet, |Adheres to directives, procedures and standards |
|Outlook and loan origination software. | |
|Precise thinking and implementation |Proficient with numbers |
|Problem-solver |Excellent phone skills |
|Systems-oriented |Tactful and diplomatic |
|Customer service skills that ‘WOW’ |Residential loan processing experience |
Duties
|Ability to process and fund 15-40 transactions per month. |
|Execute the Perfect Loan Process, as defined by loan originator. |
|Collect and review necessary documentation for all files, including borrower documentation and third-party documentation. |
|Calculate borrower income for all documentation types. |
|Structure loan packages for underwriting. |
|Submit loan packages to lenders for loan approval. |
|Collect outstanding conditions to meet with underwriting findings. |
|Communicate with all parties involved in the transaction to keep them informed of file status on a weekly basis. |
|Coordinate the ordering and signing of loan documents. |
|Ensure that all underwriting closing conditions are satisfied. |
|Coordinate and confirm loan closing with appropriate third party (escrow, title, etc.). |
|Recognize and deliver on opportunities to ‘sell’ the mortgage professional and the company. |
|Remain current on mortgage regulatory guidelines and lender program guidelines. |
|Assist in improving upon operational systems to enhance performance, efficiency, and capacity. |
|Assist in the management of processors who may be added to team. |
Compensation & Benefits
|Base salary and bonus based on monthly closed loan volume. |
| |
Expectations & Guidelines
|Ability to process and fund 15-40 transactions per month. |
|Excellent customer service. Must WOW the customer at every stage of the process, demonstrating expertise, thoroughness, thoughtfulness, politeness, and |
|enthusiasm. |
|Accuracy and completeness are critical outcomes for success. |
| |
|Physical requirements of the position: |
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