Mortgage Processor

Bank Independent
Job Description

General Summary

 In compliance with established policies and procedures, the Mortgage Processor will obtain verification of all pertinent information in each file received to prepare the file for review and approval or decline by the Underwriter.  The Processor will also be available to answer questions on the current status of a case when the assigned Mortgage Originator is not available.  The Processor will also prepare the loan package for borrower execution at closing.

 

Essential Functions

  • Begin the processing of each file once the file has been assigned
  • Reviews file to ensure that application and all disclosures have been issued according to regulations and signed as required by the customer(s)
  • Orders flood certifications
  • Sends appraisal requests to the appraiser at the direction of the underwriter
  • Requests all necessary verifications from the appropriate entities such as:
    • Employment,
    • Deposit,
    • Rent, and
    • Mortgage
  • Reviews each item as it is received to determine if it is complete and if the information provided requires any further verification or clarification.  Works through the originator or the customer(s) to obtain any additional information required for approval
  • Maintains a status record for each file and logs when items were requested and received
  • Follows up on outstanding documentation and re-orders as needed
  • Assembles file for submission to the appropriate agency, mortgage insurance company, and/or underwriter
  • Submits loan to underwriting for final approval prior to working closing  documentation
  • Maintains status of assigned loans to ensure lock expirations and shipment deadlines are met
  • Stays abreast of any government, industry, agency, institution, or department changes with respect to policies, procedures, programs, and documentation requirements
  • Prepares the loan closing package and legal documents for execution at closing.  Works closely with the closing agent to ensure the closing disclosure reflects accurate fees charged to the borrower.
  • Cross trains on all duties with in the Mortgage Department when applicable
  • Performs other duties as assigned by management

 

 

 

 

Working Conditions

  • Generally good, with little exposure to noise, extreme temperatures or other adverse factors.
  • Some pressure to achieve goals (objectives), to work efficiently and accurately, and juggle numerous competing priorities.

 

Minimum Level of Preparation and Training

  • High school diploma
  • Previous work experience in the mortgage, real estate closing department, or financial services is preferred

 

Required Abilities, Knowledge, and Skills

  • Have basic computer skills and the ability to learn new programs quickly
  • Have good clerical skills (alphabetizing, organizing, keeping records, etc.)
  • Be goal and results oriented
  • Be outgoing, friendly, and eager to assist bank employees and customers
  • Be able to maintain a high degree of confidentiality
  • Be extremely detail oriented and able to keep accurate written records of all activity on each file with organization and ability to prioritize numerous competing demands
  • Be a team player

 

Employees are required to perform other duties as assigned by management that may not be listed.  Management reserves the right to change this job description as needed.

Contact Information