Mortgage Loan Processor

The Loan Processor is responsible for the thorough review of a file. They prepare and verify the data on the loan application as well as supporting documentation that has been provided by the loan officer and submit the verified loan files to underwriting. If additional information is needed to render a decision, it is the Processor's responsibility to reach out to the borrower to obtain. This role is Monday - Friday, 8: 30am - 5pm CST. Essential DutiesProactively manage a pipeline of loans and review daily reports to identify priorities.

Escalate issues to supervisor, when neededProvide excellent customer serviceRespond promptly to all forms of communicationCommunicate (both via phone and email)Calculate income, review assets, know how to calculate student loan debt per product(conv or govt loans) and debt ratiosMust know how to review a credit report, identify issues that need to be addressedAnalyze the title report, purchase contract and appraisal on files for compliancePerform verbal verifications of employment, when needed if our verification team is unsuccessful in obtainingCommunicate clearly and professionally with all customers, co-worker, supervisors and managementEnsure that the customer understands requests and time requirements, provide deadline for documentsEnsures loan quality standards are met, including the review and resolution of any red flags in a file and the satisfaction of all conditionsRequired to open new loan submissions within 48 hours and validate all file information to ensure that all issues are identified so they may be resolved earlyContact the borrowers with a welcome call within the opening and validating period to ensure all required documentation is in the file to issue a credit decisionEnsure loan approval can be accomplished by the contingency date and that closing can be accomplished by the estimated closing date, communicate to LO if we are unable to meet a target so expectations can be resetAll requests for documentation should be completed through POS "Glyde"Gather and review all documentation needed for the loanAdhere to checklists and proceduresCreate notes and a record of all requests in the conversation log to document issues or escalationsPrepare loan packets to submit to in-house underwriters, contract underwriters or investor underwriters for approvalAll Loan Processors will also act as a back-up for other team members in processing due to scheduled and unscheduled absences or as volume dictatesMust know how to navigate Fannie Mae and Freddie Mac selling guides, FHA Handbook, and AllregsRequirementsKnowledge of TRID, Know before you owe, Regulation B ECOA and other mortgage banking related guidelinesFamiliarity with industry quality control standards and fraud detection methodsExperience with POS approval processes using LP, DO/DU and other AUSProficient computer skills including Microsoft Word, Excel and OutlookExcellent people skillsExcellent verbal and written communication skillsHas the ability to multi-task in a very fast paced environmentPossesses excellent organizational skillsHas superior attention to detailProficient knowledge of office machines (faxes, computers, printers, adding machines and telephones)Must be able to work independently and research problems / questions as requiredEducation And Professional ExperienceMinimum of 3 years loan processing experience including conforming conventional, FHA, 203K, VA, USDA, IHDA, Chicago Tax smart programs and sub-prime loansHigh School Diploma or equivalent requiredAbout Key Mortgage ServicesWhen you show your people some love, good things happen.

As an independent, family-owned business, Key Mortgage feels like a big family because that's exactly what we are. Our secret is we invest in our people, and they keep getting better — so our company does, too. Support starts on day one, so you can focus on what's most important — delivering the highest quality home financing services to our customers. At Key Mortgage, we've got your back. BenefitsPTOVTOMedicalDentalVision401k matching