Job Posting: Mortgage Loan Processor
Company: New American Funding (NAF)
Position: Mortgage Loan Processor
Job Type: Full-Time
FLSA Status: Non-Exempt
Department: Loan Processing
Reports To: Processing Manager
Location: Hybrid / In-Office (Tustin, CA; Dallas, TX; Novi, MI; Charlotte, NC; Las Vegas, NV)
About New American Funding (NAF)
New American Funding is a leading national mortgage lender specializing in purchase, refinance, and first-time homebuyer loans. Recognized for our industry-leading technology and deep commitment to underserved communities, we strive to build trust and deliver a stellar customer experience on every home loan journey. We pride ourselves on cultivating a cohesive, collaborative, and diverse work environment. At NAF, we are not just helping clients secure loans—we are helping families build legacies.
Position Summary
We are looking for a highly detailed and proactive Mortgage Loan Processor to join our team. The Loan Processor is a central figure in our mortgage production flow, acting as the primary hub between the Loan Officer, Underwriting, and the borrower. You will be responsible for validating, compiling, and "scrubbing" loan files to ensure compliance, completeness, and accuracy before submitting them to Underwriting. You will also manage conditional approvals, working directly with the borrower and vendor networks to clear conditions and transition the loan smoothly to post-closing and funding.
Detailed Job DescriptionEssential Duties and Responsibilities1. Loan File Scrubbing and Verification
- Complete File Preparation: Review, verify, and organize all supporting documents in the loan file, ensuring the packet is complete and accurate before underwriting submission.
- Documentation Management: Validate standard and specialized documentation including:
- Borrower Income and Asset Documents
- Tax Transcripts
- Verification of Employment (VOE) & Verification of Deposit (VOD)
- Appraisal Reports
- Title Reports, Escrow Instructions, Vesting Deeds, and Closing Protection Letters (CPL).
- Condition Scrubbing: Thoroughly "scrub" files to satisfy and eliminate any administrative discrepancies before files are elevated.
2. Loan Processing Systems and Administration
- Encompass Management: Efficiently utilize Encompass to track, update, and manage the loan pipeline. Ensure proper data entry into the 1003 URLA, transaction details, and borrower summary fields.
- System Task Management: Use NAF's internal task tracking system (Director) to monitor open tasks in the queue, assign active tasks, and record detailed status updates.
- FHA Connection Updates: Navigate and manage hud.gov's FHA Connection portal to handle case assignments, executing necessary corrections for fields like Loan Officer, Property Type, and Condo/PUD indicators.
3. Program and Product Specialization
- Down Payment Assistance (DPA): Understand and process specialized community lending division programs, such as the GSFA OpenDoor DPA program (including coordinating 1st and deferred 2nd mortgages, gift components, and ensuring correct Encompass configurations).
- Hybrid eClose Coordination: Qualify and prepare eligible loan files (e.g., Fannie Mae or Freddie Mac purchases/refinances) for NAF's Hybrid eClose program. Work with settlement agents (escrow, title, or closing attorneys) and borrowers to ensure proper setup and execution of electronic signatures.
- Disclosures: Issue initial and revised loan disclosures as needed, ensuring absolute regulatory compliance and adherence to timelines.
4. Stakeholder Communication and Coordination
- Clear to Close Management: Serve as the central touchpoint between Loan Officers, Underwriters, and Post-Closers/Funders.
- Borrower Engagement: Conduct proactive outreach to borrowers to gather missing documentation, clarify information, and update them on loan progress.
- Underwriting Liaison: Review conditional approvals, coordinate the fulfillment of Prior-to-Docs (PTD) conditions, and resubmit complete packets to Underwriting for final review.
Required Qualifications and Skills
- Experience: Minimum of 2–3 years of recent residential mortgage loan processing experience.
- Systems Knowledge: Strong proficiency with Encompass or similar major Loan Origination Systems (LOS) is required. Direct experience with FHA Connection and pricing engines (like Polly) is highly preferred.
- Loan Program Expertise: Comprehensive knowledge of Fannie Mae, Freddie Mac, FHA, VA, USDA, and Down Payment Assistance (DPA) lending guidelines.
- Compliance Awareness: Strong understanding of TRID, RESPA, NPI (Non-Public Personal Information) protection policies, and general regulatory requirements.
- Soft Skills: Exceptional communication, organization, time-management, and problem-solving skills. Ability to manage a pipeline of 30+ active loans simultaneously in a fast-paced environment.
What We Offer
- Competitive salary plus performance-based bonus structures.
- Comprehensive medical, dental, and vision insurance.
- 401(k) program with company match.
- Continuous education, including training programs (e.g., GSFA training, internal system credentials).
- Career progression opportunities into Senior Processing, Underwriting, or Operations Leadership.
Job Type: Full-time
Pay: From $40,000.00 per year
Benefits:
- Dental insurance
- Health insurance
- Paid time off
Work Location: Hybrid remote in Lafayette, LA 70503
