About This Role
The Loan Processor manages the end-to-end processing of loan applications, ensuring all documentation complies with industry regulations and internal standards. This role facilitates smooth loan approvals, supports loan officers, and delivers exceptional customer service. The position suits a detail-oriented individual eager to contribute to a fast-paced environment where accuracy, compliance, and client communication are paramount.
Responsibilities
- Review and verify all loan documentation, including income, employment, credit reports, and property details to ensure completeness and accuracy
- Coordinate with clients, lenders, appraisers, title companies, and other stakeholders to gather necessary information for loan processing
- Ensure all loan files adhere to FNMA (Fannie Mae), FHA (Federal Housing Administration), VA (Veterans Affairs), and conventional mortgage guidelines
- Prepare and submit loan packages for underwriting approval while maintaining compliance with TRID (TILA-RESPA Integrated Disclosure) regulations and other federal or state lending laws
- Monitor loan progress through the processing cycle, identify potential issues early, and communicate effectively with clients and team members to resolve any discrepancies
- Maintain detailed records of loan documentation, escrow accounts, and compliance checks using Encompass or similar mortgage servicing software
- Conduct credit analysis and assess borrower financials to determine eligibility based on industry knowledge of financial regulations and lending standards
- Assist in ensuring adherence to Fair Housing regulations by providing fair and equal treatment to all applicants throughout the loan process
- Support underwriting activities by preparing necessary documents, verifying borrower information, and ensuring all conditions are met prior to closing
Requirements
- Proven experience in loan origination or processing within the mortgage or banking industry
- Strong knowledge of FNMA guidelines, TRID compliance, TILA (Truth in Lending Act), and other relevant federal regulations governing mortgage lending
- Familiarity with mortgage servicing processes, escrow management, and credit analysis techniques
- Proficiency in Microsoft Office Suite (Word, Excel) as well as Encompass or comparable loan processing software
- Excellent internal communication skills for collaborating with team members and external stakeholders effectively
- Ability to interpret complex financial data accurately using basic math skills and 10-key typing proficiency
- Understanding of Fair Housing regulations, VA loans, FHA loans, conventional mortgages, and banking regulatory compliance standards
- Strong organizational skills with attention to detail to ensure accuracy in loan documentation and compliance procedures
