What are the responsibilities and job description for the Mortgage Loan Processor position at Vermont Mortgage Company?
Job Summary: Vermont Mortgage Company, a local mortgage brokerage in Burlington, Vermont, is looking for a Mortgage Loan Processor to help assist three Mortgage Loan Originators. The position is a full-time, 40 hour per week position. The Mortgage Loan Processor will be actively involved in all loans originated from inception to closing. This position involves collecting, verifying, and organizing loan documents required for loan approval while working closely with Vermont Mortgage Company loan officers, underwriters, attorneys, insurers and borrowers to facilitate a smooth, and service first, loan process.
Key Responsibilities:
- Loan Documentation:
- Review loan applications and supporting documents for completeness and accuracy.
- Request additional documentation from borrowers when necessary and ensure it is received in a timely manner.
- Processing and Underwriting Coordination:
- Prepare loan files for underwriting and ensure all underwriting conditions are met.
- Communicate with underwriters to resolve any issues or missing information.
- Update loan status and ensure that all deadlines are met.
- Compliance and Regulations:
- Ensure that all mortgage transactions comply with federal, state, and local regulations, as well as company policies and procedures.
- Stay current on industry regulations and changes in mortgage lending practices.
- Communication and Customer Service:
- Act as the primary point of contact for borrowers, underwriters, insurers, attorneys, and other stakeholders during the loan process.
- Provide timely, proactive updates to clients and respond to inquiries in a professional and courteous manner.
- Quality Control:
- Review loan files for accuracy and completeness before submitting them for final approval.
- Ensure that all necessary disclosures are provided to the borrower in accordance with lending regulations.
- Loan Closing Preparation:
- Coordinate the scheduling of loan closings with borrowers and attorneys
- Prepare final loan documentation and ensure that all conditions have been met prior to closing.
- Post Closing
- Sort and submit files based on federal and company compliance requirements.
- General
- While in the office, answering incoming phone calls and answering questions/transferring as appropriate.
- Assisting with any clients who come into the office to drop off loan documents, make copies, etc.
Qualifications:
- Previous experience as a mortgage loan processor is a plus, but not required.
- Superior attention to detail and the ability to prioritize tasks effectively.
- Excellent communication- both verbal and written.
- Fostering of office environment with interpersonal skills.
- Ability to work independently and as part of a team in a fast-paced environment.
Job Type: Full-time
Benefits:
- 401(k)
- Life insurance
- Paid time off
Schedule:
- 8 hour shift
Ability to Commute:
- Burlington, VT 05401 (Required)
Ability to Relocate:
- Burlington, VT 05401: Relocate before starting work (Required)
Work Location: In person