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Position Title: Processor
Reports to: Division Operations Manager
Department: Branch – NC – 22
Location: Charlotte, NC – Remote
Position Type: Full-Time; 40 hours per week
Supervises: None
FLSA Classification / Type: Non-Exempt / Administrative
Pay Range: $26.00 - $28.00 per hour
Benefits: Paid Time Off (PTO), paid holidays, health, dental, and vision
insurance with additional voluntary coverages available
POSITION SUMMARY
The Processor plays an integral role in the mortgage loan origination process within ALCOVA Mortgage. The Processor is responsible for reviewing and validating all information provided in the Loan Application by the borrower. The Processor works closely with Loan Officers and borrowers to ensure loan applications are thoroughly completed, while adhering to all company, investor, and industry established standards. The Processor must have excellent interpersonal skills and be driven with the desire to make sure every client has a positive experience with ALCOVA Mortgage.
DUTIES AND RESPONSIBILITIES
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.
- Handles all areas of mortgage loan processing, including, but not limited to, analyzing income and asset documentation, reviewing appraisals, sales contracts, and titles, submitting files to an automate underwriting system, processing loans in Encompass and ordering mortgage insurance
- Collect documentation as required to support information provided on the loan application
- Thoroughly reviews and resolves all documentation or factual discrepancies prior to submission of the loan to the underwriting department
- Reviews file documentation to ensure all necessary items have been requested (e.g., purchase contract, bankruptcy paper, trust documents, etc.)
- Orders third-party reports
- Maintains dialogue with Loan Officers, Branch Managers, borrowers, lenders, title companies, and other parties as needed
- Partners with Loan Officers and Underwriters on difficult and/or exception transactions
- Assists Quality Control, Closing, and Post-Closing departments on loan files when necessary
- Manages key dates, such as lock expiration, contingency date, contract date, credit doc expiration, and all compliance related dates
- Communicates to processing manager if unable to achieve a timeline or to resolve an error
- May manage multi-state pipeline of loans
- Handles borrower information with the highest degree of care, confidentiality, and professionalism
- Escalates any suspected fraudulent loans to Compliance
EDUCATION, EXPERIENCE, LICENSURE, AND COMPETENCIES
- High school diploma or equivalent
- Minimum of 3 years of processing experience
- Working knowledge of Encompass, Desktop Underwriter, Loan Prospector, GUS, Microsoft Office (Word, Excel and Outlook), and internet applications
- Ability to adapt to changing environments, situations, and job responsibilities
- Ability to work in a team-oriented environment from a remote workplace
- Ability to prioritize complex diversified responsibilities and multi-task in a fast-paced environment
- Strong organizational and time management skills to balance workload and meet deadlines
- Must be willing to assist teammates and build strong relationships with Loan Officers and Operations team members to achieve closing goals
- Excellent interpersonal and communication skills
- Self-starting, self-reliant, highly motivated and dependable
- Ability to learn new computer systems and programs
- Knowledge of state and federal lending guidelines with a thorough understanding of the processes and procedures
- Knowledge of Fannie Mae, Freddie Mac, FHA, USDA, VA and other investor guidelines
- Knowledge of the VA portal
- Ability to operate under immense pressure and manage stress well
- Compliance with all Bank Secrecy Act (BSA), Anti-Money Laundering (AML) laws, and Office of Foreign Asset Controls (OFAC) requirements are required. Employees must complete annual training in these areas.
WORK ENVIRONMENT
This job operates in a clerical, climate-controlled office setting with adequate lighting and low to moderate noise. In this role, the individual regularly uses standard office equipment such as computers, phones, photocopiers, filing cabinets, and fax machines.
PHYSICAL DEMANDS
This is largely a sedentary role; however, some filing and photocopying is required. This would require the ability to lift up to 20 pounds, open filing cabinets, and bend or stand as necessary.
TRAVEL
This position requires up to 10% domestic travel, primarily consisting of day or short trips to local branch offices and/or Corporate, regional meetings, or occasional off-site training seminars, which may require overnight stays. Must hold a valid U.S. driver's license and have reliable personal transportation, with all work-related mileage and expenses reimbursed by the Company.
EXPECTED HOURS OF WORK
Days and hours of work are Monday through Friday, 8:30 a.m. to 5:00 p.m. Evening and weekend work may be required as job duties demand.
OTHER DUTIES
This position performs additional duties as assigned, given adequate guidance and resources. This Job Description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee to perform this job. Duties, responsibilities and activities may change at any time with or without notice.
EOE D/V/M/F
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