Home Equity Loan Processor

Job Title: Home Equity Loan Processor
Location: In-Office (Training will be 100% in-office; post-training, 3 days in-office per week)
Compensation: $28 per hour (no bonus)

Position Overview:

The Home Equity Loan Processor will be responsible for processing home equity loan applications, ensuring all documentation is accurate, compliant with policies and procedures, and processed efficiently. This role requires a strong sense of urgency, excellent organizational skills, and the ability to work effectively within a team. The successful candidate will manage a pipeline of home equity loans, communicate with borrowers and third-party vendors, and maintain high levels of customer service throughout the loan process.

Essential Job Functions:

• Pipeline Management: Manage an assigned pipeline of 40-60 home equity loans on a daily and weekly basis to ensure timely processing and closing.
• Loan Processing: Process home equity loans from application to closing, including collecting and reviewing loan documentation, submitting documents to underwriting, and managing approval conditions.
• Documentation & Verification: Collect, verify, and analyze borrower documentation (e.g., income, assets, property appraisals) to ensure they meet underwriting and regulatory requirements. Order and follow up on all required verifications, such as title work, appraisals, and income verification.
• Communication: Maintain clear communication with borrowers, underwriters, title companies, appraisers, and other involved parties to ensure all necessary steps in the loan process are completed on time.
• Compliance: Ensure all home equity loan documentation complies with company policies, regulatory requirements, and underwriting guidelines. Follow all applicable federal and state regulations.
• Problem Resolution: Address and resolve issues that may arise during the loan process, such as title issues, lien resolutions, and missing documentation, ensuring a smooth and timely process for the borrower.
• Customer Service: Provide excellent customer service to internal teams, borrowers, and third-party vendors by being thorough, professional, and responsive to inquiries.
• Prioritization: Prioritize tasks to manage multiple loans simultaneously while ensuring compliance with closing timelines and internal requirements.
• Documentation Review: Review and analyze all necessary documentation, including borrower docs and third-party docs (title, appraisals, etc.), to ensure completeness and accuracy before submitting to underwriting.
• Policy Interpretation: Interpret and apply company policies and procedures to borrower information and loan documentation to ensure adherence to guidelines.
• Income Calculation: Calculate borrower income for all employment types (e.g., salaried, self-employed, etc.) to ensure it meets qualification criteria for home equity loan programs.

Qualifications:

• Experience: Minimum of 3 years of current experience in financial services, with a preference for experience in home equity loan processing.
• Home Equity Loan Knowledge: Strong understanding of home equity loan products and the related processing, underwriting, and closing procedures.
• Attention to Detail: Exceptional organizational skills with a keen eye for detail to ensure accuracy in documentation and processing.
• Communication Skills: Excellent customer service and communication skills, with the ability to interact professionally with clients, third-party vendors, and internal teams.
• Multitasking & Time Management: Ability to manage multiple competing tasks and meet deadlines in a fast-paced, high-volume environment.
• Problem-Solving: Strong analytical and problem-solving skills, with the ability to resolve issues independently and effectively.
• Work Environment: Comfortable working in a paperless, technology-driven environment.
• Computer Proficiency: Proficient in Microsoft Office Suite and other relevant software systems used in home equity loan processing.
• Availability: Willingness to work outside of normal business hours when necessary to meet deadlines.
• Licensing: Ability to obtain NMLS-MLO licenses is preferred.
• Work Schedule: Post-training, the position will require 3 days in-office per week.

Salary : $28