Summary:

The Processor is responsible for processing residential mortgage loan applications in compliance with mortgage lending regulations and applicable investor guidelines. This role performs detailed analysis of loan applications, evaluates creditworthiness, and ensures loans meet eligibility requirements for Government and Conforming Full Documentation products.

The Processor manages the loan from submission through closing, ensuring documentation accuracy, maintaining communication with all parties involved, and delivering an exceptional customer experience while meeting established service level agreements and funding goals.

Essential Job Duties and Responsibilities:

• Review and analyze loan applications to assess borrower creditworthiness and likelihood of repayment.

• Analyze Automated Underwriting System (AUS) findings (DU/LP) and investor guidelines to ensure loan eligibility.

• Validate the 1003 loan application for completeness and accuracy, confirming information entered into the Loan Origination System (LOS) is correct.

• Review title commitments, fees, and ensure proper fee allocation within the system.

• Order subordinations and manage documentation required to support loan structure.

• Run AUS engines (DU/LP) to confirm the loan qualifies for the selected product and scoring requirements.

• Run compliance engines to confirm loans meet regulatory and investor requirements at time of submission.

• Contact borrowers to obtain outstanding documentation including items listed on underwriting conditions and requirements.

• Request and obtain documentation from third parties such as:

  • Hazard insurance

  • Flood insurance

  • Payoffs

  • Verification of employment

  • Other supporting documentation

• Complete processing checklists to ensure all required documentation has been received and the loan is ready for underwriting.

• Submit loan files for underwriting review when appraisal, title, credit, and borrower documentation are complete.

• Ensure loan files meet underwriting standards and are complete prior to submission for approval.

• Escalate loans through appropriate channels if the loan no longer qualifies or requires restructuring.

• Manage assigned loan pipeline to ensure loans move efficiently through the process and meet established service level agreements (SLAs).

• Monitor loan status from application through closing.

• Track loan status including new applications, approvals, cancellations, and denials using internal systems.

• Responsible for meeting monthly funding goals and maintaining productivity standards.

• Serve as the primary point of contact for borrowers throughout the loan process.

• Act as liaison between borrowers, underwriters, loan advisors, and real estate agents.

• Provide regular status updates to borrowers and sales staff.

• Respond promptly to incoming inquiries and calls.

• Maintain detailed notes of all communication and loan status updates within the Loan Origination System.

• Provide feedback to Loan Credit Advisors regarding loan quality and file completeness.

• Maintain thorough documentation and communication to ensure transparency throughout the loan lifecycle.

• Deliver outstanding customer service while maintaining compliance and operational standards.

• Comply with all company policies and procedures.

• Maintain regular and punctual attendance.

Other Job Duties and Responsibilities:

Performs other related duties as assigned.

Supervisory Responsibilities:

• This position is an individual contributor.

Qualifications:

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

• Excellent customer service and communication skills

• Strong attention to detail and organizational abilities

• Highly skilled phone communication and borrower interaction

• Ability to manage multiple loans and priorities within a fast-paced environment

• Deep understanding of mortgage loan processing workflows and timelines

• Knowledge of investor guidelines and underwriting requirements

• Ability to interpret AUS findings and compliance results

• Proficiency in Microsoft Office

Education and/or Experience:

• High School Diploma or GED required. Bachelor’s degree preferred

• 2+ years of experience processing mortgage purchase loans

• Experience working with Government and Conforming loan products preferred

• Familiarity with Loan Origination Systems and mortgage processing software

Certificates, Licenses, Registrations:

• None Required

Work Complexity:

Problems and issues faced are general but require analysis of company policies and procedures, as well as external best practices and regulations, to assess and resolve.

Work Environment:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Work is normally performed in a typical interior office work environment which does not subject the employee to any hazardous or unpleasant elements. The noise level in the work environment is usually moderate.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds.

Equal Employment Opportunity:

The company is committed to providing equal employment opportunities to all employees and applicants without regard to race, ethnicity, color, sex, marital status, sexual orientation, gender identity or expression, pregnancy, religion, national origin, age (40 and over), disability, military status, genetic information, or any other basis protected by applicable federal, state, or local laws.

Americans with Disabilities Act:

Applicants as well as employees who are or become disabled must be able to satisfactorily perform the essential job functions of the position either with or without reasonable accommodation. Applicants as well as employees are encouraged to meet with Human Resources as the organization shall review reasonable accommodations on a case-by-case basis in accordance with applicable law.

Job Responsibilities:

The statements reflect the general duties and responsibilities considered necessary to perform the essential functions of the job and should not be considered as an all-inclusive list of all the work requirements of the position. The company may change the specific job duties with or without prior notice based on the needs of the organization.