Mortgage Processor

Job Description

Job Description

General Summary

The Mortgage Processor is responsible for proactively managing a pipeline of mortgage loans to meet closing deadlines and lock expirations. The Mortgage Processor will request verification of all pertinent information needed from customers and third parties to validate the accuracy of information provided on the loan application. The Mortgage Processor must review and analyze the documentation provided to determine it sufficiently meets all requirements and prepares the file for review by the Underwriter. The Mortgage Processor is also responsible for communicating status updates to the customer and obtaining additional documentation as needed for loan approval.

Essential Functions

• Reviews loan application, completes missing information, and updates data to match verifications obtained;
  • Completes all required third-party orders and requests necessary verifications needed for loan approval;
• Reviews all customer documentation and third-party orders as received to determine if the information provided meets requirements or needs further verification or clarification;
• Manages processing pipeline by maintaining an accurate status of assigned loans to ensure loan closings, lock expirations, and shipment deadlines are accommodated;
• Communicates status updates to the customer throughout the process and gathers additional documentation from the customer as necessary for underwriting approval;
• Communicates and escalates issues to the appropriate resource(s) as needed;
• Assembles file and submits files to the appropriate investor or underwriter for review;
• Ensures all conditions are satisfied and submits for final loan approval and closing;
• Performs duties of a closer or post-closer as volume demands;
• Cross-trains to perform other Mortgage operational duties as needed;
• Stays abreast of any government, industry, agency, institution, or departmental changes with respect to policies, procedures, programs, and documentation requirements;
• Maintains a working knowledge of all loan products and necessary documents required for each loan program.

Working Conditions

• Generally good, with little exposure to noise, extreme temperatures, or other adverse factors.
• High pressure at times to achieve objectives, to work efficiently and accurately, and juggle numerous competing priorities.

Minimum Level of Preparation and Training

• High school diploma required;
• College degree preferred;
• Previous work experience in the mortgage, real estate closing department, or financial services is highly preferred;
• Working knowledge of mortgage industry regulations highly preferred.

Required Abilities, Knowledge, and Skills

• Ability to maintain a high degree of professionalism with a focus on the customer experience;
• Excellent communication skills, both verbal and written;
• Excellent critical thinking skills with the ability to proactively and creatively problem solve;
• Strong analytical and mathematical skills;
• Excellent time management skills;
• Strong attention to detail;
• Strong organizational skills for efficiently completing tasks in a time sensitive environment;
• Ability to manage a high volume of work and effectively manage numerous competing priorities;
• Ability to maintain a high degree of confidentiality;
• Possess a good working knowledge of basic computer programs with the ability to learn new programs quickly;
• Be flexible and adaptable to meet the demands and remain competitive in an ever-changing industry.

Team members are required to perform other duties as assigned by management that may not be listed. Management reserves the right to change this job description as needed.