What are the responsibilities and job description for the Loan Processor and Communications Liaison position at Defiant Law?
A loan processor plays a crucial role in the lending process, ensuring that all necessary documentation is gathered, reviewed, and processed accurately and efficiently. Here are some typical duties of a loan processor:
Application Review: Review loan applications submitted by borrowers to ensure they are complete and accurate.
Documentation Collection: Collect all necessary documentation from borrowers, such as income verification, employment history, tax returns, bank statements, and other financial documents.
Verification: Verify the accuracy of the information provided by borrowers, including employment history, income, credit history, and assets.
Credit Checks: Request and obtain credit reports from credit bureaus to assess the creditworthiness of borrowers.
Communication: Serve as a liaison between borrowers, loan officers, underwriters, and other parties involved in the loan process to ensure smooth communication and information flow.
Coordination: Coordinate with various parties, including appraisers, title companies, insurance agents, and others, to facilitate the closing process.
Compliance: Ensure that all loan files comply with regulatory requirements and internal policies.
Data Entry and Processing: Enter loan information into the company's systems accurately and efficiently.
File Management: Maintain organized loan files and records throughout the loan process.
Problem Solving: Address any issues or discrepancies that arise during the processing of loans, working to resolve them in a timely manner.
Follow-Up: Follow up with borrowers and other parties to obtain any missing documentation or information needed to complete the loan process.
Quality Assurance: Conduct quality checks on loan files to ensure accuracy and completeness before submission to underwriting.
Deadline Management: Manage deadlines and prioritize tasks to ensure that loans are processed within established timelines.
Customer Service: Provide excellent customer service to borrowers by answering questions, providing updates on the status of their loan applications, and addressing any concerns they may have.
Continuous Learning: Stay updated on industry regulations, guidelines, and best practices related to loan processing.
Overall, a loan processor plays a crucial role in facilitating the loan process from application to closing, ensuring that all necessary documentation is collected, verified, and processed accurately and efficiently while adhering to regulatory requirements and providing excellent customer service.
Salary : $23 - $25
