Loan Processor - Remote

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Posted 4 days ago United States Salary undisclosed
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Job Description

Job Description

Under the supervision of the Operations Manager - Retail Processing, the Loan Processor will process reverse mortgage loans in accordance with established policies and procedures and appropriate guidelines; provides strong communication and support to underwriting, loan advisors, and clients to clear conditions as needed.

Job Functions and Responsibilities:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
  • Reviews loans in process daily and determines what is needed to process loans quickly.
  • Performs document and processing system audit to ensure information integrity
  • Manages a pipeline of 40 to 50 loans per month
  • Funds a minimum of 15 loans per month
  • Signs off on Tier 1 underwriting conditions
  • Process HECM refinance transactions
  • Review loans to ensure loan/property meets FHA and Investor guidelines
  • Enters data from new loan applications and other documents into computer system
  • Reviews credit reports, appraisals, flood certifications and preliminary title reports.
  • Provides follow-up on a consistent basis with clients and loan advisors during the loan processing period
  • Analyzes loan files and submits completed loans for approval to underwriting
  • Responds to inquiries from clients, advisors and vendor partners regarding status of loans in process
  • Ensures regulatory compliance
  • Processes approval and denial letters
  • Maintains status of all files in process and updates as needed; keeps abreast of all FHA and Investor guidelines and changes that may affect loan status
To perform this job successfully, an individual must have the following education and/or experience:
  • High School Diploma, GED or Military equivalent
  • Two or more years within the mortgage industry
  • Two or more years as a Loan Processor
  • Thorough working knowledge of real estate documentation, policies, compliance and procedures
  • High level of proficiency with mortgage loan processing and underwriting systems
  • Proficient in Microsoft Office (Word, Excel and Outlook).
  • Analyze statistical and financial data
  • Proficient on computer programs required for position
  • Good judgment with the ability to make timely and sound decisions
  • Demonstrated ability to calculate figures and amounts such as discounts, interest, commissions, and percentages
Training / Licensing Requirements:
  • Must pass the Company's Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.
This position is not eligible to be performed in the state of Colorado.