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Position Summary
The Mortgage Loan Processor is responsible for managing the loan file from initial submission through underwriting approval and preparation for closing. This role ensures all required documentation is complete, accurate, and compliant with investor, agency, and company guidelines—including Non-QM products. The processor serves as the primary point of contact between the borrower, loan officer, underwriter, and closing team to facilitate a smooth and timely loan process.
Key Responsibilities
File Intake & Review
- Review new loan files for completeness and accuracy upon receipt.
- Verify that all required disclosures have been provided and signed in accordance with TRID and other regulatory requirements.
- Confirm that loan applications meet investor, agency (FHA, VA, USDA, Conventional, Non-QM), and internal guidelines.
Documentation Management
- Request, collect, and review all required borrower documentation, including income, asset, credit, and collateral information.
- Analyze documentation for both agency and Non-QM loan programs, identifying any inconsistencies or potential red flags and addressing them proactively.
- Ensure all verifications (VOE, VOD, IRS transcripts, homeowners insurance, etc.) are obtained and documented.
Communication & Coordination
- Serve as the main liaison between the borrower, loan officer, underwriter, title company, and other third parties.
- Provide borrowers with regular status updates and promptly respond to inquiries.
- Work closely with the underwriter to address conditions for agency and Non-QM files and ensure timely resolution.
Compliance & Quality Control
- Maintain compliance with federal, state, and investor regulations, including TRID, RESPA, and ECOA.
- Review all documents for accuracy and completeness prior to submission to underwriting and closing.
- Prepare the file for final approval and ensure a smooth transition to the closing department.
Pipeline Management
- Monitor loan pipeline to ensure all deadlines are met.
- Prioritize tasks to meet closing dates and maintain production goals.
- Maintain accurate and up-to-date loan status notes in the loan origination system (LOS).
Qualifications
Required:
- Minimum 5 years of mortgage processing experience (retail, wholesale, or correspondent).
- Proven experience processing Non-QM loans as well as Conventional, FHA, VA, and USDA loans.
- Strong knowledge of investor guidelines, including Non-QM program structures, income documentation alternatives, and credit evaluation methods.
- Familiarity with TRID, RESPA, ECOA, and other mortgage compliance regulations.
- Proficiency in Loan Origination Systems (Byte, Encompass, Calyx, etc.) and Microsoft Office Suite.
- Excellent organizational skills, attention to detail, and ability to manage multiple files in a fast-paced environment.
- Strong verbal and written communication skills.
Preferred:
- Experience working in a high-volume, deadline-driven environment.
- Knowledge of multiple Non-QM investor overlays and niche loan programs.
- Knowledge of Conventional, FHA, VA, USDA as well as bond programs loans
Core Competencies
- Detail-Oriented: Ensures accuracy and completeness in all loan file documentation.
- Problem-Solver: Identifies potential issues early and proactively resolves them.
- Team Player: Works collaboratively with loan officers, underwriters, and closers to achieve shared goals.
- Customer-Focused: Maintains a positive and professional borrower experience throughout the process.
- Time Management: Effectively prioritizes workload to meet deadlines.
Job Type: Full-time
Pay: $50,000.00 - $65,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Vision insurance
Work Location: Remot
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