Loan Processor III

This is a fully remote position, open to applicants in United States.

📋 Description

• Process and pre-underwrite conventional, FHA, VA, and Bond mortgage loans to ensure compliance with Company, investor, and government standards.

• Meet production and quality benchmarks.

• Act as a point of contact among the loan officer, borrower, underwriter, and funding teams.

• Prepare and assess loan files to ensure completeness, supporting documents, and adherence to underwriting/investor compliance.

• Oversee the loan processing cycle time and address any issues that may cause delays in closing.

• Analyze loan-to-value ratios, debt-to-income ratios, credit reports, applications, income, assets, and down payment sources to detect fraud or misrepresentation.

• Request and evaluate third-party documentation such as credit checks, title reports, appraisals, tax returns, and employment/assets verifications.

• Stay informed about federal and state regulations, policies, and industry trends.

• Verify ratios and confirm AUS findings and program eligibility.

• Review the integrity of documentation and submit loan files for underwriting.

• Identify qualifying and program-related issues and restructure loans as necessary.

• Offer program options and recommendations within established guidelines.

• Update and confirm system data accuracy.

• Obtain and verify clearance of underwriting conditions and prepare files for closing.

• Order the generation of loan documents.

• Mentor and support less experienced Processors.

• Draft professional correspondence and emails using established templates.

• Provide status updates to Loan Officers and borrowers.

⛳️ Requirements

• High school diploma or equivalent is required.

• College coursework or technical training in Business, Finance/Accounting, Legal, or related fields is preferred.

• A minimum of five years of experience as a Loan Processor is required.

• Experience with processing conventional and FHA loans is preferred.

• At least two years of experience in processing VA and Bond mortgage loans is necessary.

• Extensive knowledge of mortgage lending processes, controls, and federal, state, and regulatory requirements is essential.

• In-depth understanding of conventional, FHA, VA, and Bond mortgage products, program guidelines, approval conditions, and investor guidelines is required.

• Strong expertise in documentation related to new construction and condominium projects.

• Proficient knowledge of documentation for consumer mortgage applications, including complex tax returns, financial statements, income, and deposit verification.

• Ability to assess facts and data, draw conclusions, and evaluate downstream impacts and risks.

• Capability to prioritize multiple tasks in a fast-paced, metrics-driven environment.

• Exceptional verbal, written, interpersonal, and customer service skills.

• Intermediate mathematical skills.

• Keen attention to detail and strong organizational abilities.

• Experience with internal data entry systems, Microsoft Word, Excel, and PDF/Document Retention programs.

• Proficiency in Microsoft Office Suite, including Word, Excel, Wiki, collaborative cloud-based programs, and third-party software applications.

• Ability to exercise independent judgment and discretion.

• Capability to provide guidance to less experienced team members.

• Frequent use of a computer keyboard and mouse.

• Ability to accurately interpret audio and visual information.

🏝️ Benefits

• Medical insurance.

• Dental insurance.

• Vision insurance.

• Life insurance.

• Accidental Death & Dismemberment (AD&D).

• Long-Term Disability (LTD).

• 401(k) plan with employer matching.

• Eligibility for incentive compensation.

• Positive work environment.

• Competitive salary.

• Remote work opportunities.