Loan Processor

Loan Processor
Direct Hire

We are seeking an experienced loan processor to join a very reputable mortgage company in Northgate, WA. The company offers a pleasant work environment, competitive compensation and excellent benefits package.

Purpose of Position:
Process and pre-underwrite conventional, FHA, VA and Bond mortgage loans to ensure compliance with Company, secondary market investor, and government agency standards. Achieve production and quality metrics. Liaison between loan officer, borrower, underwriter and funding. Prepare and review loan file to ensure completeness of submission and supporting documents, as well as compliance with underwriting and investor guidelines. Monitor overall loan processing cycle time to ensure the loan closes on time. Communicate and coordinate the resolution of issues that delay loan closing timeline. “Go to” subject matter expert/lead when Supervisor/Lead is not available.

Essential Functions

  • Monitor the overall lending process, and identify, resolve and communicate issues that could impact timely closure of loans.
  • Analyze loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of down payment funds and examine supporting documentation to identify potential fraud or misrepresentation.
  • Identify potential issues and communicate to consumer and loan officer.
  • Order and review all third party documentation, including credit checks, title reports, appraisals, tax returns, verifications of employment/assets, etc. to identify and address potential issues.
  • Stay current with federal, state regulations, policies and industry trends.
  • Check ratios, and verify accuracy of AUS findings and program applicability.
  • Review and verify documentation integrity to ensure it aligns with findings, completeness and compliance, and submit loan file to underwriting for approval.
  • Identify qualifying/program issues prior to submission to Underwriting, and re-structure loan as necessary.
  • Provide options within guidelines and makes recommendations if borrowers may qualify for suitable programs.
  • Update and verify accuracy of data input into system.
  • Verify compliance with Company standards, federal and agency regulations, standards, and guidelines, as well as any applicable state-specific and or local regulations, ordinances, etc.
  • Obtain and verify clearance of all underwriting conditions and prepare the file for submission to Closing.
  • Order generation of loan documents.
  • Coach and provide guidance to less experienced Processors as needed.
  • Use and modify templates to compose professional correspondence and emails.
  • Provide status updates to Loan Officers, borrowers and agents.

Job Type: Full-time

Pay: $50,000.00 per year

Posted
11/06/2021
Salary Range
$39,000.00 - 49,000.00
per Year
Salary range estimated by
Location
Seattle, WA 98127, US
Apply Now