MORTGAGE LOAN PROCESSORMortgage Loan Processor
Full Time Direct Hire
Salary is DOE (target is ~55-70k and per file bonus)
Anchorage, AK 99503
Process and pre-underwrite conventional, FHA, VA and Bond mortgage loans to ensure compliance with Company, secondary market investor, and government agency standards. Achieve production and quality metrics. Liaison between loan officer, borrower, underwriter and funding. Prepare and review loan file to ensure completeness of submission and supporting documents, as well as compliance with underwriting and investor guidelines. Monitor overall loan processing cycle time to ensure the loan closes on time. Communicate and coordinate the resolution of issues that delay loan closing timeline. “Go to” subject matter expert/lead when Supervisor/Lead is not available. Average monthly pipeline is 14 loans.
Required Skills / Experience:
• Strong Loan Processing experience
• Mix of multiple of the following: Conventional, FHA, VA and Bond mortgage loans
• Expert knowledge of overall mortgage lending internal processes and control, as well as federal, state, and regulatory requirements/guidelines related to consumer mortgage lending for conventional, FHA, VA and Bond mortgage loans.
• Expert knowledge of conventional, FHA, VA and Bond mortgage loans, including various product/program guidelines, necessary conditions for approval, and investor specific guidelines.
• Expert knowledge of valid documentation related to processing consumer mortgage applications (e.g., complex tax returns, financial statements and records, verification of income and deposits, etc.).
• Able to provide guidance to less experienced team members to resolve/escalate issues of high complexity
• Desired experience in new construction documentation and condominium projects.
• High school diploma or equivalent required; college courses/technical training related to Business, Finance/Accounting, Legal, or related field is preferred.
• Ability to build strong relationships with loan officers, production, underwriting, closing and other internal and external partners.
• Sound judgment, ability to think critically, including the ability to evaluate facts and data to draw conclusions, determine the downstream impact of decisions and associated risks.
• Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
• Excellent customer service, interpersonal, verbal and written communication skills
• Intermediate math skills.
• Strong verbal and written communication skills.
• Strong detail orientation and highly organized.
• Monitor the overall lending process, and identify, resolve and communicate issues that could impact timely closure of loans.
• Analyze loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of down payment funds and examine supporting documentation to identify potential fraud or misrepresentation.
• Identify potential issues and communicate to consumer and loan officer.
• Order and review all third party documentation, including credit checks, title reports, appraisals, tax returns, verification of employment/assets, etc. to identify and address potential issues.
• Stay current with federal, state regulations, policies and industry trends.
• Check ratios, and verify accuracy of AUS findings and program applicability.
• Review and verify documentation integrity to ensure it aligns with findings, completeness and compliance, and submit loan file to underwriting for approval.
• Identify qualifying/program issues prior to submission to Underwriting, and re-structure loan as necessary.
• Provide options within guidelines and makes recommendations if borrowers may qualify for suitable programs.
• Update and verify accuracy of data input into system.
• Verify compliance with Company standards, federal and agency regulations, standards, and guidelines, as well as any applicable state-specific and or local regulations, ordinances, etc.
• Obtain and verify clearance of all underwriting conditions and prepare the file for submission to Closing.
• Order generation of loan documents.
• Coach and provide guidance to less experienced Processors as needed.
• Use and modify templates to compose professional correspondence and emails.
• Provide status updates to Loan Officers and/or borrowers.
Company / Benefits
Closing loans and opening doors since 1960. As a mortgage banking firm, we are dedicated to serving the homeowner/buyer. Our goal is to provide affordable home financing for our customers, utilizing the best terms available while providing a level of professionalism and service unsurpassed in the lending industry.
• Medical, Dental & Vision
• Life insurance, AD&D, and LTD
• Matched 401k
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