Mortgage Loan Processor

MINIMUM EDUCATION AND EXPERIENCE REQUIREMENTS:

High school diploma plus two (2) to four (4) years of mortgage underwriting and/or processing experience. Knowledgeable of conventional (Fannie Mae, Freddie Mac), Government (FHA, VA).

Bachelor's degree or equivalent experience from which comparable knowledge and abilities can be acquired.

JOB PURPOSE AND SCOPE:

The Mortgage Processor is responsible for all aspects of the home lending business. These operations include, but are not limited to, the completion of all loan processes: generating complete and accurate disclosure documents in a timely manner; evaluating changes in key loan characteristics and generating re-disclosure documents as appropriate; ordering, obtaining, and processing loan documentation provided by customers, settlement agents, and other third parties according to established guidelines; confirming closing fees and loan terms; preparing and securing properly executed loan documents; disbursing loan proceeds pursuant to approved loan terms; and, responding and providing status information to customers, settlement agents and all other internal and external interested parties.

The Mortgage Processor handles a variety of loan documentation duties using comprehensive knowledge of policies and procedures for loan products. Maintain proficiency in all loan processing and closing procedures and consistently adheres to policies, guidelines and procedures as well as compliance regulations (HMDA, TILA, RESPA, HOEPA, FCRA and ECOA) and credit guidelines.

ESSENTIAL FUNCTIONS:

1. Ensure achievement and maintenance of department performance standards to keep loans flowing into proper loan operations queues.
2. Verify and compile borrower's information for mortgage loans.
3. Review residential loan application file to verify that application data is complete and meets establishment standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment.
4. Order all services for loans (title, appraisal, homeowners, flood certs, 4506T, credit supplements, obtaining all information from FHA Connections & VA Portal).
5. Calculate income (fixed, salaried) and review assets (large deposits).
6. Complete file audit for document preparation (i.e., fee audit, vesting, validating cash to close/cash-back, insurance requirements).
7. Communicate with Broker, Settlement Agent, and Borrower as required to ensure all parties are aware of closing status and any outstanding requirements pending to confirm a closing date.

Current Openings for Mortgage Loan Processor Jobs at AgTrust Farm Credit