Loan Processor II
Perform duties of Conventional, FHA and VA loan processing and closing. Includes interacting with escrow, title company, sales, design center, and borrowers in the closing of the loans.
Primary Duties and Responsibilities:
Process and close loan applications from initial set-up through funding, striving to obtain loan approvals within 21 days of receipt of loan.
Close approved loans, ensuring all conditions and requirements of underwriting and investors have been met.
Communicate with New Home Consultants, borrowers and associates in a professional, courteous manner.
Maintain a pipeline of loans with an emphasis on customer service, quality, accuracy and efficiency. Learn and maintain knowledge of different loan programs and corresponding computer system codes.
Gather and submit credit report and supporting application (1003) documentation in a timely manner for loan approval.
Maintain status and information within processing software system. Update codes, status dates and loan information for reporting as needed. Communicate status in meetings and with other associates as directed by supervisor.
Obtain the sales contracts, escrow instructions, and any documentation regarding upgrades prior to ordering the appraisal for all purchases.
Remain current with our Broker programs and maintain their forms for submission.
Keep current with investor guideline changes by reading updated bulletins and communicate the same to the Home Loan Advisor as learned.
Obtain and follow through on borrower conditions for closing per underwriter/lenders requirements.
Submit a document ready loan to funding by the prescribed time to accomplish a smooth closing or prepare and transfer closing documents to title (processing centers).
Keep communication between borrowers, escrow/title, sales agents, and Home Loan Advisor up-to-date to avoid delays and confusion.
Maintain written status with the borrowers with reference to “needs items” and/or approval conditions to meet the Regulation B notification requirement.
Assist Home Loan Advisors at community previews (or openings) from time to time as needed.
In addition to the above, each Associate will be required to cross train for position(s) within the organization which may, from time to time, be required.
Education and Experience Requirements:
One to two years experience as Loan Representative or Loan Representative I
Automated processing and closing experience
One to two years of FHA/VA/Conventional loan closing
Ability to study independently
Successful completion of Core Curriculum Customer Care Empowerment, Doc Basics, FHA, VA, Self Employed and MortgageWare. Or successful completion of Introduction to Mortgage Banking, Mortgage Loan Origination, Processing the Loan, Conventional Loan Processing, Mortgage Loan Underwriting, Underwriting the Self-employed Borrower, Closing, Shipping & Warehousing
Attention to detail
Knowledge of office procedures
Excellent organization skills
Knowledge of Word for Windows and Excel
Current knowledge of closing and title requirements
Current knowledge of loan processing and automated underwriting
Current knowledge of FHLMC/FNMA/FHA/VA and industry underwriting guidelines
Current knowledge of self employed borrowers, partnership and corporation tax return analysis
Maintain minimum pipeline of 35-45 loans
Regular interaction with homebuilding sales associates, prospective borrowers, lender representatives and underwriters, escrow and title personnel, credit bureaus and appraisers. Also deals with homebuilding division management as well as mortgage division staff. Visit Sales Offices and Subdivisio
Interact well with other associates
Possess positive and professional attitude and represent company in a positive manner
Provide outstanding customer service, work well under pressure and be a team player
Possess excellent organization and analytical skills
Possess excellent oral and written communication skills
Strong computer skills with knowledge of Word and Excel
Understand and follow posted work rules and procedures
Accept constructive criticism
Requires the ability to operate a personal computer, fax machines, copier, bend, stoop, reach, lift, move and carry materials and supplies weighing 20 pounds or less. Finger dexterity is required to operate a computer keyboard.