A Loan Processor plays a crucial role in the mortgage lending process, ensuring that loan applications are accurately and efficiently processed from start to finish. This position requires strong attention to detail, excellent organizational skills, and a thorough understanding of mortgage lending procedures and regulations. Loan Processors work in collaboration with loan officers, underwriters, and borrowers to facilitate the loan application and approval process.
Key Responsibilities:
Application Review:
Review loan applications and supporting documentation submitted by borrowers.
Verify the completeness and accuracy of the application, including income, credit, and asset information.
Request any missing or additional documents required for loan processing.
Documentation Verification:
Validate applicant information by contacting employers, financial institutions, and other relevant sources.
Review credit reports, employment histories, and financial statements.
Confirm that applicants meet the necessary qualifications for loan approval.
Compliance and Regulation:
Ensure that all loan files comply with federal and state regulations, as well as institutional policies and procedures.
Identify potential red flags, discrepancies, and fraud risks in loan applications.
Communication:
Maintain effective communication with borrowers, loan officers, underwriters, and other stakeholders throughout the loan process.
Provide updates on the status of loan applications and any outstanding requirements.
Data Entry and Processing:
Input and update loan application information into the loan origination system.
Prepare and assemble loan packages for underwriting and final approval.
Review and process any required conditions imposed by underwriters.
Quality Assurance:
Conduct quality control checks to ensure the accuracy and completeness of loan files.
Address any discrepancies or issues promptly to avoid delays in loan approval.
Closing and Funding:
Coordinate the closing process with title companies, escrow officers, and attorneys.
Verify that all closing documents are in order and accurate before loan funding.
Record Keeping:
Maintain organized and secure records of loan files, including all documentation and correspondence.
Ensure confidentiality and security of sensitive borrower information.
Requirements
Entrepreneurial attitude with the ability to get things done
Possesses superior interpersonal skills
Efficiently manage his/her time and schedule
Can work under high pressure and challenging environments
Fluent in spoken and written English
Have basic Microsoft Word and Excel skills
Able to work night shift
Work Locations:
Vietnam- DaNang: Nguyen Tri Phuong Street, Thanh Khe District, Da Nang.
Colombia: Office 202 Medellín, Colombia