Mortgage Loan Processor
Residential Mortgage Services | Lancaster, PA
The Employer has temporarily removed this postingDescription
Job Title: Loan Processor
Reports To: Processing Manager
The Loan Processor is responsible for ensuring the timely and accurate packaging of all loans originated by loan officers. The Loan Processor reviews files for completeness of submission and adherence to underwriting standards and regulatory compliance guidelines.
ü Review files for completeness
ü Verify accuracy of system input
ü Analyze file; check ratios and program applicability
ü Obtain accurate Automated Underwriting System (AUS) findings
ü Consistent and effective communication with borrowers, loan officers and realtors regarding obtaining the required documentation for loan files and providing current status of loan files in process to all parties involved in the transaction
ü Analyze credit reports, returned verifications and appraisal
ü Prioritize work flow to ensure time sensitive files are handled in proper order
ü Submit files to underwriting in a timely manner in accordance with company standards
ü Ensure compliance with all regulatory and governmental standards, guidelines, rules and regulations
ü Run and review Mavent compliance report to review compliance with HPML, High Cost, TILA and all other compliance checks
ü Other job duties as designated by RMS
· Maintain current awareness and understanding of all regulatory compliance responsibilities of the position. Ensure that all loans are in compliance with all applicable laws, regulations, policies and guidelines.
· Ensure proper safeguarding of confidential and proprietary information of consumers and other protected information under the Company’s Information Security Policy.
· Ensure compliance with the Document Integrity Policy, including: (1) preventing the misleading alteration of documents (e.g., use of wite-out, selective copying); (2) not providing pre-dated documents for signature; (3) not requiring consumers to sign documents that have not been completed; and (4) scrutinizing documents presented to the incumbent for completeness and authenticity.
· Unless properly licensed under the SAFE Act or applicable state laws, and the duties of the position so require, the incumbent will not perform such tasks as taking mortgage applications, offering or negotiating rates or terms of a mortgage loan with the consumer, soliciting, arranging or finding mortgage loans, or counseling consumers about residential mortgage loan rates or terms, as those actions may be defined by applicable laws and regulations.
Minimum Requirements (including licenses, registrations and certifications)
Minimum of a high school diploma and 3 - 5 years of related experience or equivalent is required. Strong knowledge of FNMA, FHLMC, FHA, VA, RD and State Housing lending guidelines and requirements. Ability to analyze documentation and determine borrower ability to qualify. Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent and to draw and interpret bar graphs, as well as the ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Strong communication skills, pro-active approach, able to work independently and ability to multi-task. Computer Skills
This position has familiarity with Microsoft Word/Excel/Outlook/SharePoint and the Internet. The Processor is also proficient in using Encompass and automated underwriting systems (AUS) to include DU/DO, LP and GUS and has in-depth knowledge of mortgage lending and mortgage regulations.
Americans with Disabilities Act Specifications
Essential Physical Functions
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is occasionally required to stand; walk; sit; use hands to finger, handle or feel; reach with hands and arms; talk or hear. The employee must occasionally lift and/or move up to 10 pounds.
Work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is not exposed to weather conditions.
The noise level in the work environment is usually moderate.