(Mortgage) Loan Processor
Location: Dearborn Heights
Posted on: June 6, 2021
Under the direction of the Branch Manager, Operations Manager
and/or Processing Supervisor, evaluates all information supplied on
the mortgage loan application, verifies the validity of the
information and assembles a completely documented file to
Underwriting and Closing. Acts as the primary liaison between the
loan officer, loan officer assistant, realtors, builders and the
- Maintains knowledge of all policies and modifications to the
guidelines and standards of the company, federal housing programs,
investors, and private mortgage insurers.
- Maintains and updates loan application information within loan
origination software and other applications.
- As applicable, orders appraisals, title, survey, verifications,
and any other items required for loan approval; conducts regular
follow-ups with outside sources regarding outstanding
- Verifies the data collected, analyzes, and decides whether it
meets guidelines or if other documentation is needed; documents
communication through the conversation log; ensures loan
application is in compliance with underwriting, investor, RESPA,
and HMDA guidelines.
- Calculates income, reviews assets and liabilities.
- Reviews all disclosures for completeness and compliance.
- Completes final evaluation and analysis of completed
application packages and submits eligible files specifying any
- Monitors rate lock information for data integrity and
expiration dates; communicates discrepancies to the Loan
- May maintain accurate pipeline to ensure proper projections,
closings, and regulatory compliance with Company, Federal, and
- May prepare, when applicable, "Declination Letters." Ensures
accurate disclosure of the reason(s) for the adverse action as soon
as it is determined that applicants do not qualify.
- May schedule closing appointments with respective parties (i.e.
title companies, closing attorneys, corporate closing department
and customers etc.) Meets customer service standards as outlined by
- May facilitate training of junior or newly hired processors
regarding specific Prime operations including file flow, loan
origination software, and other applications.
- Updates loan officer, loan officer assistant, realtors,
builders and customers on loan status.
- Maintains communication with customers throughout the loan
process, assisting them with any questions and notifying them of
any additional requirements.
- Other functions as needed.
- High school diploma or equivalent.
- Minimum of 1 year mortgage banking experience as a processor or
junior processor, required.
- Must have working knowledge of Fannie Mae/Freddie Mac and
FHA/VA policies and guidelines, as well as, Regulatory Mortgage
Compliance, state, federal, local government, private investors and
- Must have working knowledge, or the ability to learn all
operating systems and possess the ability to facilitate
- Proficient in Excel, Word, Outlook, with the ability to learn
other mortgage-related programs.
- Excellent written and verbal communication skills.
- Excellent organizational and time management skills.
- Demonstrated ability to interact effectively with branch,
regional and corporate personnel, as well as realtors, sales
agents, builders, appraisers, title companies, etc.
- Demonstrated judgment and decision making ability.
- Must be available to work all regularly scheduled hours;
arriving at scheduled reporting time and at the prescribed time
after any breaks or lunch periods.
- Must be able to work overtime, as required.
About the Company
Keywords: PlainsCapital, Dearborn Heights , (Mortgage) Loan Processor, Other , Dearborn Heights, Michigan
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