Loan Processor

Overview:
A loan processor is responsible for gathering, preparing, and submitting relevant information to be able to evaluate an applicant’s creditworthiness and eligibility for a residential loan. This person must be able to work with applicants/borrowers, realtors, builders, appraisers, title companies, and others in the department to ensure efficient and timely workflow and perform related duties as required. They will need to verify loan documentation, converse with borrowers to obtain required documentation and information for their file, as well as determine income, liabilities, and debt to income ratios.

Duties:
· Review files when received and order or oversee the ordering of all appropriate documents

· Ensure all hazard and flood insurance follows investor and regulatory requirements prior to closing

· Perform and verify income calculations

· Act as borrowers’ main point of contact throughout the loan process

· Ensure accuracy by reviewing and analyzing all aspects of the mortgage credit package including but not limited to: accuracy of file input, timely delivery of required application disclosures, title policy, assets and asset documentation, income figures and income documentation including personal and corporate tax returns, credit report/credit documentation, and appraisal review

· Be able to review bank statements and identify large deposits

· Prepare a complete and concise loan file with timely submission to the underwriting and closing departments to meet scheduled contracts or other predetermined deadlines

· Must be able to request or independently verify borrowers’ identity

· Organize and review all submitted documentation

· Ensure that all conditions have or will be met prior to providing the file to the closing department for preparation of closing documents

· Must have strong decision-making skills and be able to identify problems as well as develop procedures to resolve or correct the situation as well as create a writeup for committee

· Information Security Responsibilities

Qualifications:
High school diploma with relevant experience, banking or business courses helpful

Preferred Skills:

Basic knowledge of underwriting terminology, attention to detail and accuracy, strong analytical and time management skills, ability to process and record a large volume of data accurately and efficiently, excellent communication skills, must be able to remain cordial and professional when communicating with customers, outside vendors, and coworkers, basic computer knowledge, and basic math and accounting skills

This job description is not intended to be an exhaustive list of all duties, responsibilities, or qualifications associated with the job.

Job Type: Full-time

Pay: $33,000.00 - $50,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Vision insurance

Physical Setting:

• Office

Schedule:

• 8 hour shift
• Day shift
• Monday to Friday

Work Location: In person

Salary : $33,000 - $50,000