Mortgage Loan Processor - Level II

Description

The Mortgage Loan Processor is responsible for performing a wide range of administrative duties related to the timely and accurate processing of residential first mortgage loans. This role involves reviewing, validating, and preparing loan documentation to ensure files are complete and compliant prior to closing.

The Mortgage Processor must maintain effective communication with borrowers, loan officers, underwriters, and closers to coordinate the exchange of information and facilitate a smooth loan closing process. Attention to detail, organizational skills, and the ability to manage multiple files simultaneously are essential.

This position operates under moderate supervision, with performance evaluated based on accuracy, timeliness, and the successful achievement of processing objectives.

• Communicate with loan officers, members and internal employees
• Review residential loan application file to verify that application data is complete and meet establishment standards, including but not limited to type and amount of mortgage, borrower assets, liabilities, and length of employment.
• Understand mortgage real estate lending practices, including federal regulatory requirements, state regulations, agency and Credit Union requirement.
• Conduct follow up on outstanding documentation to ensure receipt within turn-around time standards.
• Employ sound judgment in the process of validating loan approval utilizing Fannie Mae Desktop Underwriter.
• Verify income and assets as required in he DU verification messages. Review credit report as needed to address any inconsistencies identified in the DU findings.
• Review appraisals to ensure that the required level of appraisal fieldwork has been completed, that they are professional quality and are prepared in a way that is consistent with Fannie Mae requirements.
• Manage incoming appraisal reports and request reviews;
  Submit full credit package for Mortgage Insurance Certificate;
  Request insurance binder, and Schedule closing with outside closing agents and approve settlement statement.
• Work with staff and co-workers as a team in analyzing and solving situations that may arise in the mortgage origination loan process and follow company policies and procedures.
• Perform related duties as required.

Must be able to perform all responsibilities and functions listed for Level I with a high degree of independence.

• Experience and independent ability to process FHA and VA loans
• Understand government mortgage loan programs and knowledge of the necessary documentation for processing and obtaining underwriting approval.
• Enter data on FHA Connection, and VA platforms

Must be able to perform all responsibilities and functions listed for Levels I & II with a high degree of independence.

• Experience and independent ability to process USDA loans
• USDA & non-saleable
• Review and validate GUS findings

• Must have familiarity with systems, processes, laws/regulations/guidelines/principles, software, interactions with individuals or teams, etc.
• Knowledge of recent compliance regulations preferred.
• Ability to analyze paperwork/pre-underwriting preferred.
• Excellent communications skills and proven effectiveness in working with loan originators and loan applicants.
• Ability to work with a wide range of personalities in a courteous, effective and efficient manner.
• Ability to input data accurately and efficiently into computer software systems.
• Ability to work under the stress maintaining the proper liaison between members, Loan Officers, Realtors and vendors to facilitate loan transactions in compliance with all policies, procedures and legal and…