Loan Processor

Overview

Verifies, compiles, and enters application information for mortgage loans by performing the following duties. This position performs purely clerical, or administrative tasks, on behalf of loan originators but does not take consumer credit applications, offer, or negotiate credit terms.

Responsibilities

Reviews residential loan application file to verify that application data is complete and meets establishment standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment.

Corresponds with credit bureau and employer to verify accuracy of information.

Enters or downloads loan application information in mortgage software.

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

Informs supervisor of discrepancies in title or survey.

Submits mortgage loan application file for underwriting approval.

Follow-up on any additional requirements by underwriter.

Creates and mails approval and denial letters to applicants.

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

Records data on status of loans.

Provide excellent internal and external customer service.

Qualifications

Five or more years of recent processing experience with government and convention loans.

EEO/AA/M/F/Veteran/Disability