Loan Processor

This is a fully remote position, open to applicants in New Jersey.

📋 Description

• Assess and evaluate borrowers' credit histories, employment status, income, and assets prior to underwriting.

• Compile comprehensive loan packages for the underwriting process.

• Confirm necessary documentation and complete loan checklists.

• Examine applications for completeness and accuracy while identifying potential underwriting concerns.

• Prepare loan approval summaries, Forms 1008 and 1003, along with precise disclosures.

• Liaise with Loan Originators, clients, Underwriters, and third-party entities to gather documentation.

• Review loans to ensure compliance with mortgage-related regulations and prepare necessary disclosures.

• Acquire property surveys, flood certificates, title commitments, and payoff information.

• Validate vendor orders, invoices, and the contents of applicant e-files.

• Oversee the loan pipeline and submit reports within designated turnaround times.

• Assist in loan setup activities.

• Record communications related to loan applications in the conversation log.

• Train and provide supervision for new Loan Processors and processing staff.

• Support closing, secondary marketing, and loan servicing with any outstanding investor suspense items.

• Be prepared to work flexible hours and overtime as required.

⛳️ Requirements

• High School Diploma or equivalent qualification.

• A minimum of 5 years of experience in residential mortgage processing.

• Familiarity with Encompass software.

• A working knowledge of RESPA regulations and general understanding of mortgage and consumer lending regulations, particularly Regulation Z and Regulation B requirements, is preferred.

• Proficiency in DU, LP, Microsoft Office, and Windows operating systems.

• Strong mathematical and analytical abilities.

• Exceptional communication skills.

• Outstanding prioritization and time management capabilities.

• Availability to work flexible hours and overtime as necessary.

🏝️ Benefits

• Competitive compensation package.

• Medical insurance coverage.

• Dental insurance coverage.

• Vision insurance coverage.

• 401K retirement plan.

• Company-sponsored short-term disability insurance.

• Employee assistance program.

• Wellness program.

• Comprehensive benefits package.

• Opportunities for career advancement.