The Loan Processor is responsible for providing quality customer service by obtaining necessary documentation to underwrite the loan and ordering third party documentation by communicating directly with the customer and/or loan officer in a professional and effective manner. The Loan Processor provides proper disclosures when required by applicable local, state, and federal regulations.
- Perform a thorough review and analysis of borrower’s credit, employment, income and assets as required by the particular loan program before submitting to underwriting
- Assemble the complete loan package in proper order for underwriting:
- Verify all required documentation (pre-underwrite) in the file;
- Complete the required loan checklist;
- Verify that an application is complete and accurate; and
- Identify any potential issues that may arise in underwriting
- Prepare a loan approval summary, Forms 1008 and 1003, and ensure the accuracy of all the information printed on those documents. Communicate directly with the Loan Originator, customer, and underwriter to obtain initial and any missing documentation required to qualify for the loan
- Review loans for compliance with all mortgage-related regulations (RESPA, TIL, HMDA, Reg. B, etc.) and prepare required disclosures
- Communicate with various companies to obtain Property Survey, Flood Certificate, Title Commitment, and payoff information
- Verify that vendor orders are complete, invoices received, and in the applicant’s efile.
- Manage pipeline by completing and submitting reports within allotted turn-around times.
- Assist set-up of loans
- Document all communication related to the loan application in the conversation log.
- Train and help supervise new loan processors and other processing personnel
- Assist closing, secondary marketing, and loan servicing to obtain and clear outstanding suspense items from CrossCountry Mortgage, Inc. investors
- High School Diploma or equivalent
- 3 years of current bank or mortgage processing experience
- Encompass experience is required
- Working knowledge of RESPA regulations and general knowledge of all mortgage and consumer lending regulations, including but not limited to Regulation Z and Regulation B requirements, and loan documents preferred
- Strong math and analytical skills
- Excellent written and verbal communication skills
- Ability to prioritize and meet deadlines.
- Available to work varying hours and overtime if needed
- Computer Knowledge (DU, LP, Microsoft Office & Windows)
This job description is intended to convey information essential to understanding the scope of the job and the general nature and level of work performed by job holders within this job. However, this job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.
CrossCountry Mortgage, Inc. (NMLS3029) is an Equal Opportunity Employer committed to workforce diversity. Qualified applicants will receive consideration without regard to race, religion, creed, color, orientation, gender, age, national origin, veteran status, disability status, marital status, sexual orientation, gender identity, or gender expression.
Real Estate Settlement Procedures Act
Truth In Lending Act