Mortgage Loan Processor

About the Job

This role as a Mortgage Loan Processor involves managing loan applications in strict adherence to mortgage lending and investor requirements. The position requires detailed analysis of loan applications, credit assessments, reviewing underwriting systems and guidelines, evaluating title documents, ordering subordinations, and ensuring correct fee allocations within the system. You will oversee the loan process while maintaining clear communication and expectations with clients and sales staff up to closing.

Responsibilities

• Thoroughly review residential loan application files to confirm data is complete and compliant with standards related to mortgage type, borrower assets, liabilities, and credit.
• Ensure all necessary property-related documents are received and reviewed accurately.
• Effectively communicate with borrowers to gather required supporting loan documentation.
• Provide customer service to loan originators by acting as an extension of their sales efforts.
• Request and collect any third-party conditions needed for loan files.
• Ensure high-quality loan processing by reviewing all files for compliance before underwriting submission.
• Complete file reviews within 48 hours of receiving submission, targeting 90% on-time completion.
• Submit purchase files to underwriting within four business days; refinance files within 48 hours from receipt of documents.
• Maintain weekly communication with clients, updating on milestones and file status.
• Send all required Closing Cost documents such as Loan Estimates and Closing Disclosures.
• Submit approved loan files to the closing department and oversee the closure through funding, coordinating with title and involved parties.
• Prioritize files based on contract closing dates and expected turnaround times following branch procedures.
• Address all funding conditions timely and accurately.
• Support loan officer teams actively.
• Target to close 12 loans monthly.

Compensation and Benefits

• Competitive hourly pay ranging from $32 to $38 depending on location and performance.
• Paid holidays and paid time off.
• Opportunities for professional growth and development.
• Health insurance including medical, dental, and vision coverage.
• 401(k) retirement savings plans available.

Additional Information

This is a full-time remote position; however, candidates must be located in the Dallas-Fort Worth Metroplex to attend occasional in-person training sessions and events.