Senior Loan Processor

American Intermutual Agency, INC - San Diego, CA (30+ days ago)


Job Title:

Senior Mortgage Loan Processor

Company:

Federal Home Loan Centers

Company Profile:

Federal Home Loan Centers is committed to providing low cost and free services to homeowners and soon-to-be homeowner's who are seeking affordable solutions to purchase, refinance or sell a home.

Job Description:

The primary focus of Mortgage Loan Processor is to facilitate communication with lenders, Real Estate Agents, Loan Officers and Escrow (closing parties). Duties include ensuring compliance, opening, and closing loans, creating disclosures, satisfying loan conditions and exceeding customer satisfaction.

Mortgage Loan Processor will:

Organize files and ensure timely and accurate execution of a wide range of loan processing functions.

Identify high-quality loan applications and maintain an expedient and balanced distribution of workflow for their mortgage processing pipeline.

Perform a full range of mortgage loan processing steps to produce a complete loan file, obtain conditions, and ensure that the loan package is fully prepared for closing.

Communicate directly and indirectly with Underwriters to obtain the information and/or documentation necessary to make a loan decision.

Utilize checklists to organize, track, and request all essential documentation of the mortgage loan file from origination to closing; prepare disclosures, order and review credit reports (as needed); review content for inclusion and accuracy, including; signed and dated application, legal documents such as divorce decrees and child support, general authorization, required disclosures, appraisals, wage and tax information, financial statements, and related materials.

Pre-underwrite mortgage loans and follow the appropriate guidelines. This includes gathering and processing documentation, compilation and analysis of credit history, income documentation, debt and other factors in order to assist underwriters to accurately approve or recommend denial of mortgage applications within the allowed lending guidelines or limits.

Interact with external and internal underwriters and secondary market representatives as needed.

Coordinate opening and closing with third party closing agents (title, escrow, and attorneys), prepare loan closing documentation; utilize checklists to ensure all essential documentation will be available at the closing.

Verify loan data for accuracy and completeness; including complete electronic and/or hardcopy applications, transmittal summaries, verification for employment (VOE), verification of rent (VOR), gather loan information, and other supporting documents to include in the electronic submission; prepare documentation for mortgage insurance or government guarantee.

Prepare and send documentation to clients, vendors, and other appropriate sources, ensure that loan production is maintaining follow-up and/or requesting information in a timely manner and address problems or other matters related to loan document processing.

Prepare and send files for VA, USDA, and FHA approval.

Oversee the maintenance of regular communication with clients, appraisers, settlement agents, insurance, credit bureaus and, wholesale and secondary market representatives regarding loan approvals; review conditions and follow as needed with contacts.

Keep track and follow-up on documentation necessary to meet the pre-closing conditions and to close. Interact with clients as needed to collect documents, assist with rate locks and gather any other paperwork needed for closing.

Process all mortgage loan functions in a timely and efficient and accurate manner, including accurate entry of loan application information in the mortgage loan software programs.

Stay informed about market trends, available products, mortgage underwriting and processing standards, compliance, and regulatory requirements.

Perform other related duties as assigned.

Education and/or Experience:

Associates degree in business and/or finance or a related field desired but not required. Minimum of 2 years experience in a financial institution processing mortgage loans or underwriting.

Licensure:

NMLS and BRE required within 180 days of employment.

Job Competencies:

Strong organizational, multi-tasking, data and information managing, writing and customer centric service skills required.

Strong written and oral communication skills to deal with internal and external contacts.

Competent knowledge and experience with Microsoft Office products and financial systems programs.

Comprehensive knowledge of mortgage lending procedures, regulation, standards, and processes.

Ability to analyze tax returns and make sound decisions regarding loan risk.

Ability to work cooperatively with others to identify, recommend and implement opportunities for increased efficiency in the Mortgage Processing Department.

Ability to work efficiently and quickly in a fast-paced environment and to work overtime when loan volumes require extra effort.

Working Conditions:

This position requires standing or sitting for long periods of time and working primarily at a workstation or desk. Daily tasks include extensive use of a computer performing standard keyboard functions, requiring some repetitive motion and use of a telephone.

To Apply:

Submit a cover letter and resume to the email address above.

Benefits:

Full benefits after completion of 90 day probation (medical, 401k with matching company contribution, life insurance, paid time off).

Compensation:

$30,600.00 base salary + production bonus ($75-275 per closed file).

Job Type: Full-time

Salary: $39,600.00 to $91,000.00 /year

Experience:

  • Mortgage: 2 years
  • Loan Processing: 2 years

Education:

  • Associate

Location:

  • San Diego, CA

License:

  • NMLS