Loan Processor - Bilingual Spanish
POSITION SUMMARY
Process and pre-underwrite conventional, FHA, VA and USDA mortgage loans to ensure compliance with Company, secondary market investor, and government agency standards. Achieve production and quality metrics. Liaison between loan officer, borrower, underwriter and funding. Prepare and review loan file to ensure completeness of submission and supporting documents, as well as compliance with underwriting and investor guidelines. Monitor overall loan processing cycle time to ensure the loan closes on time. Communicate and coordinate the resolution of issues that delay loan closing timeline.
ESSENTIAL DUTIES AND RESPONSIBILITIES
The essential functions include, but are not limited to the following:
Monitor the overall lending process, and identify, resolve and communicate issues that could impact timely closure of loans.
Analyze loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of down payment funds and examine supporting documentation to identify potential fraud or misrepresentation.
Identify potential issues and communicate to borrower and loan officer.
Order and review all third-party documentation, including credit checks, title reports, appraisals, tax returns, verifications of employment/assets, etc. to identify and address potential issues.
Stay current with federal, state regulations, policies and industry trends.
Check ratios, and verify accuracy of AUS findings and program applicability.
Review and verify documentation integrity to ensure it aligns with findings, completeness and compliance, and submit loan file to underwriting for approval.
Identify qualifying/program issues prior to submission to Underwriting, and re-structure loan as necessary.
Provide options within guidelines and makes recommendations if borrowers may qualify for suitable programs.
Update and verify accuracy of data input into system.
Verify compliance with Company standards, federal and agency regulations, standards, and guidelines, as well as any applicable state-specific and or local regulations, ordinances, etc.
Obtain and verify clearance of all underwriting conditions and prepare the file for submission to Closing.
Order generation of loan documents.
Provide status updates to Loan Officers, borrowers and agents.
Performing other duties as assigned
MINIMUM QUALIFICATIONS (KNOWLEDGE, SKILLS, AND ABILITIES)
Total recent work experience includes three or more years' experience as a Loan Processor, preferably processing conventional, FHA, VA and USDA mortgage loans.
Ability to build strong relationships with sales staff, underwriting, closing and other internal and external partners.
Fluency in the language of Spanish and English in order to communicate effectively with internal and external customers.
Detailed knowledge of overall mortgage lending internal processes and control, as well as federal, state, and regulatory requirements/guidelines related to consumer mortgage lending for conventional, FHA, VA and USDA mortgage loans.
Detailed knowledge of conventional, FHA, VA and USDA mortgage loans, including various product/program guidelines, necessary conditions for approval, and investor specific guidelines.
Detailed knowledge in new construction documentation and condominium projects.
Detailed knowledge of valid documentation related to processing consumer mortgage applications (e.g., complex tax returns, financial statements and records, verification of income and deposits, etc.).
High school diploma or GED equivalent, must also be 18 years or older.
Sound judgment, ability to think critically, including the ability to evaluate facts and data to draw conclusions, determine the downstream impact of decisions and associated risks.
Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
Excellent customer service, interpersonal, verbal and written communication skills
Strong detail orientation and highly organized.
Demonstrate patience and professionalism when interacting with both internal and external customers.
Ethical, with a commitment to company values.
Proficiency with data entry, PDF software programs, Microsoft Word, and Excel required
NOTE
This job description in no way states or implies that these are the only duties to be performed by the employee in this position. Employees will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments. All duties and responsibilities are essential functions and requirements and are subject to possible modification to reasonably accommodate individuals with disabilities. The requirements listed in this document are the minimum levels of knowledge, skills, or abilities. This document does not create an employment contract, implied or otherwise, other than an "at will" relationship.
The company is an Equal Opportunity Employer, drug-free workplace, and complies with ADA regulations as applicable.
Apply Now
Process and pre-underwrite conventional, FHA, VA and USDA mortgage loans to ensure compliance with Company, secondary market investor, and government agency standards. Achieve production and quality metrics. Liaison between loan officer, borrower, underwriter and funding. Prepare and review loan file to ensure completeness of submission and supporting documents, as well as compliance with underwriting and investor guidelines. Monitor overall loan processing cycle time to ensure the loan closes on time. Communicate and coordinate the resolution of issues that delay loan closing timeline.
ESSENTIAL DUTIES AND RESPONSIBILITIES
The essential functions include, but are not limited to the following:
Monitor the overall lending process, and identify, resolve and communicate issues that could impact timely closure of loans.
Analyze loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of down payment funds and examine supporting documentation to identify potential fraud or misrepresentation.
Identify potential issues and communicate to borrower and loan officer.
Order and review all third-party documentation, including credit checks, title reports, appraisals, tax returns, verifications of employment/assets, etc. to identify and address potential issues.
Stay current with federal, state regulations, policies and industry trends.
Check ratios, and verify accuracy of AUS findings and program applicability.
Review and verify documentation integrity to ensure it aligns with findings, completeness and compliance, and submit loan file to underwriting for approval.
Identify qualifying/program issues prior to submission to Underwriting, and re-structure loan as necessary.
Provide options within guidelines and makes recommendations if borrowers may qualify for suitable programs.
Update and verify accuracy of data input into system.
Verify compliance with Company standards, federal and agency regulations, standards, and guidelines, as well as any applicable state-specific and or local regulations, ordinances, etc.
Obtain and verify clearance of all underwriting conditions and prepare the file for submission to Closing.
Order generation of loan documents.
Provide status updates to Loan Officers, borrowers and agents.
Performing other duties as assigned
MINIMUM QUALIFICATIONS (KNOWLEDGE, SKILLS, AND ABILITIES)
Total recent work experience includes three or more years' experience as a Loan Processor, preferably processing conventional, FHA, VA and USDA mortgage loans.
Ability to build strong relationships with sales staff, underwriting, closing and other internal and external partners.
Fluency in the language of Spanish and English in order to communicate effectively with internal and external customers.
Detailed knowledge of overall mortgage lending internal processes and control, as well as federal, state, and regulatory requirements/guidelines related to consumer mortgage lending for conventional, FHA, VA and USDA mortgage loans.
Detailed knowledge of conventional, FHA, VA and USDA mortgage loans, including various product/program guidelines, necessary conditions for approval, and investor specific guidelines.
Detailed knowledge in new construction documentation and condominium projects.
Detailed knowledge of valid documentation related to processing consumer mortgage applications (e.g., complex tax returns, financial statements and records, verification of income and deposits, etc.).
High school diploma or GED equivalent, must also be 18 years or older.
Sound judgment, ability to think critically, including the ability to evaluate facts and data to draw conclusions, determine the downstream impact of decisions and associated risks.
Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
Excellent customer service, interpersonal, verbal and written communication skills
Strong detail orientation and highly organized.
Demonstrate patience and professionalism when interacting with both internal and external customers.
Ethical, with a commitment to company values.
Proficiency with data entry, PDF software programs, Microsoft Word, and Excel required
NOTE
This job description in no way states or implies that these are the only duties to be performed by the employee in this position. Employees will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments. All duties and responsibilities are essential functions and requirements and are subject to possible modification to reasonably accommodate individuals with disabilities. The requirements listed in this document are the minimum levels of knowledge, skills, or abilities. This document does not create an employment contract, implied or otherwise, other than an "at will" relationship.
The company is an Equal Opportunity Employer, drug-free workplace, and complies with ADA regulations as applicable.
Apply Now