Loan Processor

This is a fully remote position, open to applicants in New Jersey, +1 more state.

📋 Description

• Deliver exceptional customer service by gathering the necessary documentation to underwrite the loan.

• Request third-party documentation through direct communication with the customer and/or Loan Officer.

• Ensure proper disclosures are provided when mandated by relevant local, state, and federal regulations.

• Conduct a comprehensive review and analysis of the borrower's credit, employment, income, and assets as required by the loan program prior to submission to underwriting.

• Organize the complete loan package in the correct order for underwriting.

• Verify all required documentation (pre-underwrite) in the file.

• Complete the necessary loan checklist.

• Confirm that an application is thorough and accurate; identify potential issues that may surface during underwriting.

• Prepare a loan approval summary, Forms 1008 and 1003, ensuring the accuracy of all information printed on the documents; directly communicate with the Loan Originator, customer, and Underwriter to gather initial and any outstanding documentation required to qualify for the loan.

• Review loans for adherence to all mortgage-related regulations (RESPA, TIL, HMDA, Reg. B, etc.) and prepare required disclosures.

• Coordinate with various companies to secure Property Survey, Flood Certificate, Title Commitment, and payoff information.

• Ensure vendor orders are complete, and invoices are received and stored in the applicant’s E-file.

• Manage the pipeline by completing and submitting reports within designated turnaround times.

• Assist in the setup of loans.

• Document all communications related to the loan application in the conversation log.

• Train and supervise new Loan Processors and other processing staff.

• Support closing, secondary marketing, and loan servicing to clear any outstanding suspense items from CrossCountry Mortgage investors.

• Be available to work varying hours and overtime as required.

⛳️ Requirements

• High School Diploma or equivalent.

• Over 5 years of experience in residential mortgage processing, focusing on retail lending.

• Proven ability to manage a pipeline of up to 50 loans simultaneously in a fast-paced environment.

• Familiarity with various loan types, including Correspondent, Brokered, FHA, VA, Agency, Non-QM, Jumbo, and Bond programs.

• Proficient in Encompass.

• Experience with SONYMA loans is preferred.

• Knowledge of DU, LP, Microsoft Office, and Windows.

• Understanding of NJ and NY state-specific lending requirements and compliance standards.

• Knowledge of RESPA regulations and a general understanding of all mortgage and consumer lending regulations, including but not limited to Regulation Z and Regulation B requirements, and loan documents, preferred.

• Strong mathematical and analytical skills.

• Excellent communication abilities.

• Exceptional prioritization and time management skills.

🏝️ Benefits

• Medical.

• Dental.

• Vision.

• 401K.

• Company-provided short-term disability.

• Employee assistance program.

• Wellness program.