Mortgage Loan Processor

About Rate

Rate is a major retail mortgage lender in the United States, known for combining technology with personalized mortgage service. Established in 2000 and headquartered in Chicago, the company is licensed nationwide across all 50 states and Washington, D.C. It has supported more than 2 million homeowners through a broad mix of mortgage products, competitive pricing, and tailored guidance. With 5,000+ team members, 300+ offices, and 12+ subsidiaries, Rate’s loan officers are consistently recognized as among the strongest in the industry. The company supports buyers and refinance customers, as well as homeowners looking to access equity, with tools designed to simplify and speed up the financing process.

Rate’s technology suite includes Same Day Mortgage, the Rate App, FlashClose℠, MyAccount, and the Language Access Program. These innovations have received recognition from HousingWire, Scotsman Guide, NerdWallet, the Chicago Tribune, and Crain’s Chicago Business.

Compensation

The compensation structure is based on home state minimum wage plus $500 for each closed file.

Work arrangement

This is a remote role that supports an office operating in Eastern Standard Time.

Responsibilities

• Partner with Loan Officers to deliver an accurate, efficient experience for clients throughout the mortgage journey, including first-time buyers and refinance customers.
• Monitor and coordinate closing dates, contingency deadlines, and loan lock expiration timelines.
• Examine loan approvals and work through all conditions needed for underwriting and closing.
• Undergo continuous, comprehensive training to develop deep knowledge of mortgage products and lending workflows.
• Assemble and send complete and timely loan packages to the Closing Department.
• Leverage advanced systems to oversee the loan pipeline and perform credit and underwriting reviews.
• Offer high-quality customer support and provide thoughtful, consultative direction to clients.

Requirements

• At least 3 years of recent operational experience in the residential mortgage space is preferred, especially with Conventional, FHA, and VA loans.
• Hands-on experience with Fannie Mae Desktop Underwriter and Freddie Mac Loan Prospector is required.
• Experience using Encompass is mandatory.
• Recent exposure to DPA loans is required.
• Strong communication skills, a positive approach, professional attitude, and solid work ethic are expected.
• Ability to juggle multiple priorities, maintain close attention to detail, and meet deadlines in a fast-paced setting.
• Good listening skills, strong problem-solving ability, and creative thinking are important.
• A genuine commitment to client service, integrity, and building a distinctive customer experience is essential.

Benefits

• Eligibility for a company-sponsored 401(k).
• Vacation benefits.
• Medical, dental, vision, and prescription drug coverage.
• Flexible benefits such as healthcare and dependent care flexible spending accounts.
• Life insurance and death benefits.
• Critical care insurance.
• Personal accidental insurance.
• Commuter benefits.
• Pet insurance.
• Time off and leave benefits.
• Well-being support, including an employee assistance program.
• Additional optional benefits such as legal planning assistance, identity theft protection, pet insurance, and wellness resources.

Additional information

Rate is an equal opportunity employer and considers all qualified applicants without regard to age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity or expression, marital or parental status, ancestry, citizenship status, pregnancy, or any other protected characteristic.

Applications will be reviewed for the next 30 days.

For Washington State benefit details, the role references the company’s disclosures for that state.