Mortgage Loan Processor-The CORE Region
Job Details
Experienced
CORE Region - McKinney, TX
Full Time
Not Specified
Undisclosed
Undisclosed
Day
Undisclosed
Description

POSITION TITLE

Mortgage Loan Processor- CORE

DEPARTMENT/BRANCH

Processing

REPORTS TO

Processing Manager

FLSA STATUS

Non-Exempt

WORK SCHEDULE

Full Time

GRADE

 

 

POSITION SUMMARY DESCRIPTION

Ensure accurate and timely packaging of all loans originated by the loan officer.  Organize, compile,  and verify loan application information for mortgage loans.  Recommend loan approval or denial according to established standards.  Meet crucial deadlines.

 

MAJOR AREAS OF RESPONSIBILITIES

1.

Review residential loan application file to verify that application data is complete and meets establishment standards.  Pipeline should consist of 25 loans, and should process a minimum of 8 files per day.

2.

Contact specified companies to obtain property abstract, survey, and appraisal.

3.

Recommend denial of loan not meeting standards.

4.

Prepare and submit communications for approval and/or denial letter to applicants.

5.

Submit mortgage loan application file for underwriting approval.

6.

Submit approved mortgage loan file to Mortgage Loan Closer for settlement.

7.

Recordkeeping data on status of loans.

 

PRIMARY OBJECTIVES

Organize, compile and verify loan application relating to a mortgage.

Recommend to underwriting, whether to deny or approve the loan application in accordance with established standards and crucial deadlines.

 

 

 

SPECIFIC  RESPONSIBILITIES

Major Area of Responsibility

Specific Responsibilities Related to Major Area

Review residential loan application file to verify that application data is complete and meets establishment standards.

Check all the information relating to a mortgage.  Call or write credit bureau and employer to verify accuracy of information.  The primary information to be verified includes applicant’s employment record, income, net worth and willingness to pay.  Calculate income, check for garnishments, review assets for large deposits, gifts, loans not on the credit report.  Review appraisal to ensure accuracy and completeness.    Contact borrower for any additional information required.  Run AUS to ensure meet all required finding conditions.  Update all documentation received after pre-processor into Encompass.    Flag file for any inconsistencies before submitting to Underwriting.

Contact specified companies to obtain property abstract, survey, and appraisal.

Order and coordinate loan documents.  Contact specified companies to collect information regarding the property’s price, appraisal survey, and title insurance. 

Recommend denial of loan not meeting standards.

Analyze  loan package and closing conditions in comparison to acceptable standards indicating loan is out of accepted norm.  Recommend denial and document.

Prepare and submit communications for approval and/or denial letter to applicants

Type and prepare approval and denial letters to applicants.

Submit mortgage loan application file for underwriting approval.

Submit mortgage loan application file for underwriting approval per established procedures.

Submit approved mortgage loan file to Mortgage Loan Closer for settlement.

Submit approved mortgage loan file to Mortgage Loan Closer for settlement per established procedures.

Recordkeeping data on status of loans.

Record data on status of loans, including number of new applications and loans approved, cancelled or denied.

 

 

 

 

 

 

JOB REQUIREMENTS

Broad Knowledge & Experience

Mortgage banking industry, familiar with Conventional, FHA, and VA mortgage products.  Clear understanding of the current RESPA laws and guidelines.

Above Average Skills

Language, and mathematical skills.  

Demonstrated Ability

Ability to solve practical problems and deal with a variety of variables in situations where only limited standardization exists.  Ability to interpret a variety of instructions furnished in writing, oral, diagram or schedule form.

General Knowledge

Positive attitude, excellent attention to detail, strong work ethic.

 

EDUCATION & EXPERIENCE

Degree or Equivalent

2-4 year college curriculum in business, finance, or accounting preferred.

Years Experience

Minimum one year experience and/or training.

Specialized Training

Knowledge of Encompass Database software, FHA Connection, Desktop Underwriter, Loan Prospector and Data Verify Internet software.

Active Affiliations, Certifications

 

 

 

COMPETENCIES (x= RELEVANT FOR THIS POSITION)

x

Analytical

 

Design

x

Problem Solving

 

Project Mgmt

x

Technical Skills

x

Teamwork

x

Visionary Leader

 

Change Mgmt

 

Delegation

 

Leadership

 

Cost Consciousness

x

Ethics

x

Organ Support

 

Strategic Thinking

x

Judgment

x

Quantity

x

Safety & Security

x

Adaptability

x

Attendance

x

Dependability

x

Customer Service

x

Interpersonal Skills

x

Oral Comm

x

Written Comm

x

Initiative

 

Managing People

x

Quality Mgmt

x

Business Acumen

 

Diversity

x

Innovation

x

Motivation

x

Planning/Organizing

x

Professionalism

x

Quality

 

 

 

WORK ENVIRONMENT

Physical Demands

Office environment;  Daily computer usage requires close vision.

Work Conditions

Fast paced, high volume activities.

Temperament

In order to succeed in this position high attention to detail, and organization, amidst fast changing environment is a must. 

Qualifications

Operations-Processing Experience Required and Encompass knowledge is a plus.

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