What are the responsibilities and job description for the Loan Processor position at Megatel Homes?
Job Details
Job Location: Corporate - Dallas, TX
Position Type: Full Time
Salary Range: $28.00 - $32.00 Hourly
Description
We’re seeking a detail-oriented and organized Loan Processor to join our Mortgage Department in our Corporate Office in Dallas, TX. In this role, you’ll manage and process loan applications from start to finish, ensuring compliance with all regulatory and company requirements. Responsibilities include reviewing loan documents, verifying applicant information, coordinating with borrowers, lenders, and underwriters, and ensuring timely and accurate processing of loan files. This is an in-office position - no remote work available.
- Manage loan pipeline daily.
- Review new loan files and make introduction call to borrower within 24 hours of receipt of file from loan originator.
- Update conversation log in Encompass with all loan communications.
- Order VOE’s, credit report updates as required.
- Order plans and specs from builder for FHA/VA builder loans.
- Order appraisals and final inspections.
- Order FHA/VA case assignments and CAIVR’s.
- Order initial LE/CD, title commitment, tax certs, ICL, survey and homeowner’s insurance.
- Prepare loan file for underwriting submission and re-verify all employment, assets, credit letters and supporting documents with final AUS results and Encompass input.
- Submit loans to underwriting within 2 business days of receipt from loan originator for credit approval.
- Email borrower with any loan conditions, call to go over, and follow-up until received.
- Submit loan conditions to underwriting within 2-3 days after credit approval or suspension to receive full loan approval.
- Minimum of 2 new loans files and 2 resubs sent back to underwriting each day. Daily call with Branch Manager to help track progress on all files.
- Complete Final Loan Communication checklist and review with borrower.
- Obtain final loan clear to close on loan 5 business days prior to closing.
- Review all final required closing documents and notify closing department file is ready for CD and closing document preparation.
- Upload final borrower signed CD in Encompass
- Follow-up on any post-closing requests within 24 hours of receiving deficiency notice from post-closing.
- Maintain current knowledge level on relevant mortgage programs and regulatory requirements. Complete required compliance training classes
- Provide excellent customer service skills and report any customer complaints to branch manager immediately
Qualifications
- At least 2-3 years of recent experience in the residential mortgage industry – Conventional, FHA, VA and USDA
- 2 years Encompass experience
- Ability to interact well and assist others as needed. Customer Service skills are essential for this position with the borrower, originator, referral partners, title services, etc.
- Self-motivated, driven and persistent to achieve a desired result.
- Commitment to quality work to ensure efficiency and productivity.
- Availability to work extended hours as the business dictates.
- Experience working with properties that are new construction.
- Understanding of builder documents are required at time of the construction closing transaction
Salary : $28 - $32
