Located in Waukesha, WI
The Loan Processor provides professional support services to Loan Officers by assembling a completely documented residential mortgage loan file in preparation for submission of the file to the underwriting department.
Essential Duties & Responsibilities
- Review residential loan application file to verify that application data is complete and meets establishment standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment.
- Set up loan file in Loan Origination System (Encompass).
- Serve as a liaison between the customer, loan officer and underwriter.
- Obtain needed documentation via credit reports, appraisals and related information.
- Review all files to ensure RESPA compliance.
- Order title work and review for accuracy and address any discrepancies.
- Submit loan file for underwriting approval.
- Maintain pipeline of loan files submitted for processing, approved and PTF conditions.
- One (1) to Three (3) years recent loan processing experience in the mortgage industry required
- Familiarity with TILA / RESPA Integrated Disclosure (TRID)
- Sound judgment and decision-making skills
- Ability to work under pressure and meet deadlines with minimal supervision
- Excellent customer service skills
- Excellent organizational skills
- Experience using Encompass
Required Education & Experience
- High School Diploma or Equivalent
- Knowledge of Freddie Mac, Fannie Mae and FHA/VA guidelines
- Ability to speak, read and write in the English language
- Articulate speaker with good interpersonal skills
- Problem-solving – identifies and resolves challenges in a timely manner by gathering and analyzing information skillfully. Develops alternative solutions using facts and reasoning in presenting business case for pursuing appropriate course of action.
- Communication – speaks clearly and persuasively in all types of situations. Listens and seeks clarification as necessary in order to understand and fulfill business objectives. Able to read and interpret complex information and regulatory requirements. Must be able to build effective intra-corporate relationships and collaborations, and liaison with various business departments.
- Business acumen – understands business implications and decisions, displaying appropriate balance between revenue growth and compliance with existing laws and regulations. Demonstrates working knowledge of regulated financial industry.
- Ethics – Keeps commitments and inspires trust by others. Understands and appreciates the value of integrity in self and others. Upholds organizational values. Maintains strict confidentiality of business information and processes.
- Judgment – exhibits sound and accurate judgment. Supports and explains rationale for decisions. Includes appropriate people in decision-making.
- Planning and Organizing – prioritizes and plans work activities. Uses time efficiently. Sets goals and objectives.
- Professionalism – approaches others in a tactful, respectful manner. Reacts well under pressure.
- Adaptability – adapts quickly to changes in work priorities and manages competing demands appropriately. Modifies approach or method to best fit the situation. Ability to deal with frequent changes, delays, or unexpected events.
- Initiative – undertakes self-development activities. Seeks increased responsibilities, while asking for assistance when needed.
- Innovation – assist department in developing and implementing creative ideas and methods to increase overall efficiency and departmental value.
- Teamwork – work with fellow team members inside and outside the department, treating everyone with dignity and respect, always willing to help others, with exceptional customer service.