Mortgage Loan Processor

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Job description

File Setup:

- Orders all third-party items: VOEs, transcripts, appraisal, SSA, Title, HOI, FHA Case Numbers, Flood Certification, DataVerify, credit supplements, CDAs etc.

- Organizes all documents uploaded to the file manager into their respective buckets

- Updates or corrects all sections of the 1003 with the information provided on the documents uploaded

- Addresses for banks in the VOD, employer address and info in the VOE, itemization with title charges on the prelim CD

- Follow up on outstanding third-party items

- Receives all third party items and checks for completeness and correctness: HOI, title, appraisal, VOEs, etc.

- Loan beam requests

Pre-Underwriting:

- Reviews the file and sends needs list to borrower for outstanding items

- Uploads all documentation received back from borrower to their respective buckets

- Follow up on needs lists

- Calculates income from income documentation obtained

- Draft Cover letters

- RD Requests

- Review and clear Mavent fails

- Review LEs are signed

Resubmittal:

- Update Encompass with all finalized figures and information obtained from documentation: HOI premiums, appraised value, file contacts, asset totals, etc.

- Request appraisal updates

- Calculates funds to close from title documents obtained

- Verify time and date of closing

- Run AUS findings with all accurate and verified information

- Review conditional approvals and request processing related items

- Send resub emails for borrower needed items and

updates for processing items

- Repull MI quote

- Follow up on resub lists

- Initial CD

Closing Prep:

- Prepare files for closing

- Approve and coordinate balancing of CDs

- Ensure wire is requested for closing

- Final CD RDs

- Engage title and closer for balancing CD and sending docs

CD Management:

- Ensure CD is balanced and approved at least 1 hour before closing and wire requested