Loan Processor
Plymouth, MI 
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Posted 27 days ago
Job Description

Job Description? 

Summary of Duties: 
Processes mortgage loan applications for submission to underwriting. Works on clearing conditions and closes loans prior to purchase agreement expiration date. 

Essential Functions: 

  • Upon loan approval, review DO/LP findings and prior to closing coordinate with Loan Officer to ensure all conditions are cleared and customer experience is uninterrupted. 

  • Order appraisal through Appraisal Firewall system. Order appraisal accordingly. 

  • Update pipeline and enter tracking data in Encompass system to track and follow-up on files submitted to underwriting; including dates of contract to ensure that loan decisions are timely. 

  • Provide a commitment letter, counter offer or adverse action notice in accordance with regulatory requirements, indicating any conditions required on the Notice of Loan Approval (NOLA). 

  • Process and order all necessary application and closing documents, including but not limited to, payoff information, survey, insurance, condominium questionnaires, subordination requests, flood certification, verification of employment/assets and completes title commitment review, and coordinates with loan officer to ensure accuracy. 

  • Complete Change of Circumstance documents as necessary. 

  • Coordinate closing schedule with loan officer and title company. 

  • Once clear to close, review files for completeness, to include: receipt of payoff and insurance information, verification that all conditions have been satisfied, title requirements have been met and rate expiration dates allow for adequate processing time. 

  • Complete closing package, provides loan officer with preliminary closing figures to be reviewed. 

  • Compare loan estimate to closing disclosure and determine if any TRID tolerance violations and/or cost to cure calculations exist. 

  • Order CD timely 

  • Work with closing to ensure all documents are received 

  • Keep in contact with agent and borrowers throughout the process 

Required Experience: 

  • Bachelor’s Degree preferred. 

  • High school diploma or equivalent, with relevant college courses or seminars in mortgage processing, accounting, underwriting and customer service. 

  • Preferred 1-3 years previous mortgage processing experience. 

  • Excellent customer service skills, with the ability to effectively communicate with bank staff, customers and other parties. 

  • Must possess the ability to handle multiple tasks, pay attention to detail and be well organized. 

  • Acute level of accuracy in work is critical. 

  • Must be familiar with the October 2015 TRID Guidelines to be considered. 

  • Encompass Mortgage Processing Software experience preferred. 

Job Type: Full-time 

 

Job Summary
Employment Term and Type
Regular, Full Time
Required Education
High School or Equivalent
Required Experience
1 to 3 years
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