Mortgage Loan Processor

Job Role:  Loan Processor (Rapid Division)

Reports to:  Processing Manager

Rapid Mortgage Company a leading financial services company dedicated to providing exceptional lending solutions to our clients. We are seeking a detail-oriented and experienced Loan Processor to join our team. 

Overview: The Loan Processor is responsible for efficiently clearing all underwriting conditions while maintaining a high level of communication and organization. This role demands strong interpersonal skills, a team-oriented mindset, and the ability to manage a high-volume pipeline of 25 or more files monthly, ensuring an accurate and timely closing process.

Key Responsibilities

• File Review:  Thoroughly review loan files upon receipt from Underwriting.  Generate and deliver an initial needs list to borrower within 24-48 hours of conditional approval.
  
• Borrower Communication:  Conduct a "Welcome Call" within 24 hours of receiving the conditional approval to explain outstanding conditions and next steps.  Maintain ongoing borrower contact every 48 hours throughout processing.
• Condition Management:  Immediately address all actionable underwriting conditions.  Delegate appropriate tasks to the Processing Assistant and manage timely condition follow-up and resolution.
• Redisclose Management:  Monitor daily alerts and complete redisclosures promptly and accurately according to regulatory and company guidelines.
• Pipeline Management:  Prepare for and actively participate in weekly pipeline review calls with Loan Officers, updates on loan progress, outstanding issues, and projected closing timelines.
• Internal Collaboration:  Work closely with Underwriting, Processing Management, and other internal teams to troubleshoot and resolve loan issues to facilitate smooth and timely closings.
• Appraisal and Title Coordination:  Order and track appraisal corrections, final inspections, and work directly with title companies and insurance providers to clear title and policy issues.
• Quality Control (QC):  Respond immediately to any QC findings or conditions to ensure compliance with internal and investor standards.
• Closing Coordination:  Collaborate with the Funding Team to deliver the signed Closing Disclosure (CD) in a timely manner, ensuring accurate cash-to-close figures and addressing any final changes.

Service Level Expectations

• Submit loans to Underwriting within 24 hours of receipt from Processing Assistant.
• Conduct Welcome call/email and send initial needs list to customer within 24-48 hours of receiving Conditional Approval.

Qualifications

• 3+ years of mortgage processing experience required.
• Proficiency with FHA, VA, USDA, Fannie Mae and Freddie Mac guidelines.
• Ability to independently run AUS systems:  DU, LP and GUS.
• Minimum 1 year of experience with Encompass LOS required.
• Strong understanding with TRID requirements.
• Working knowledge of Down Payment Assistance (DPA) programs required.
• Proficiency with Microsoft Office Suite.
• Strong organizational skills, attention to detail and ability to manage a high-volume pipeline.
• Positive attitude, high integrity and strong work ethic.
• Ability to meet deadlines while exercising sound judgement and decision-making skills.

Preferred Knowledge, Skills and Abilities:

• Confidence to process and close 25+ files per month.
• Strong interpersonal, collaboration and organizational skills.
• Positive attitude and strong attention to detail.
• Ability to meet deadlines with sound judgement and prudent decision-making.
• High level of integrity and strong work ethic.
• Leadership experience is preferred by not required.

Work Hours:  Availability required between 8:00 AM – 6:00 PM EST

Benefits:

• Competitive salary - please include salary requests with application
• Health, dental, and vision insurance available day 1
• Employer paid life insurance and LTD
• Retirement plan
• Paid time off and holidays
• Opportunities for career development and advancement

Please include salary requests with application.