Processor

Position Title:                                  Processor

Reports to:                                       Vice President of Processing

Department:                                    Sales Support & Training

Location:                                           Corporate Remote / Branch

Position Type:                                 Full Time; 40 hours per week                     

FLSA Classification / Type:           Non-Exempt / Administrative

Supervises:                                       None

POSITION SUMMARY

The Processor plays an integral role in the mortgage origination loan process within ALCOVA Mortgage.  The Processor is responsible for reviewing and validating all information presented on the Loan Application by the borrower.  Processors work closely with Loan Officers and borrowers to ensure loan applications are thoroughly completed and adhere to Company, investor, and industry established standards.  The Processor must have excellent 'people skills' and be driven with the desire to make sure every client has a positive experience with ALCOVA Mortgage.

DUTIES AND RESPONSIBILITIES

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.

1. Handles all areas of mortgage loan processing, such as: analyzing income and asset documentation, reviewing appraisals, sales contracts, and titles, submitting files to an Automated Underwriting System, processing loans in Encompass (loan origination system) and ordering mortgage insurance
2. Collects documentation as required to support information provided on the loan application
3. Ensures accuracy and completeness of all files and submits completed loan files to Underwriting
4. Thoroughly reviews and resolves any and all documentation or factual discrepancies prior to submission of the loan to the Underwriting Department
5. Reviews file documentation to ensure all necessary items have been requested (e.g., purchase contracts, bankruptcy papers, trust documents, etc.)
6. Orders third-party reports 
7. Maintains dialogue with Loan Officers, Branch Managers, borrowers, lenders, title companies, and other parties as needed
8. Must maintain mortgage loan information confidentiality
9. May manage multi-state loan pipeline of loans
10. Communicates to Processing Manager if unable to achieve a timeline or to resolve an error
11. Escalates any suspected fraudulent files to Compliance Team
12. Manages key dates, such as: lock expiration, contingency date, contract date, credit doc expiration, and all compliance related dates
13. Partners with Loan Officers and Underwriters on difficult and/or exception transactions
14. Assists Quality Control, Closing, and Post-Closing Departments on loan files, when necessary

EDUCATION, EXPERIENCE, LICENSURE, AND COMPETENCIES

1. High school diploma or equivalent
2. Minimum of at least one year of mortgage processing experience required.  Relevant experience may be considered
3. Working knowledge of Encompass, Desktop Underwriter, Loan Prospector, GUS, Microsoft Office (Word, Excel, and Outlook), and Internet applications
4. Knowledge of regulatory and compliance guidelines and required state and federal disclosures
5. Ability to adapt to changing environments, situations, and job responsibilities
6. Capacity to work in a team-orientated environment from a remote workplace
7. Ability to prioritize complex diversified responsibilities and multi-task in a fast-paced environment
8. Strong organizational and time management skills to balance workload and meet deadlines
9. Must be willing to assist teammates and build strong relationships with Loan Officers and Operations team members to achieve closing goals
10. Excellent interpersonal and communication skills (verbal and written)
11. Self-starting, self-reliant, highly motivated and dependable
12. Technologically savvy and comfortable learning new computer systems and programs
13. Working knowledge of state and federal lending guidelines and a thorough understanding of the processes and procedures
14. Knowledge of Fannie Mae, Freddie Mac, FHA, USDA, VA, and other investor guidelines.
15. Working knowledge of the VA Portal
16. Ability to operate under immense pressure and manage stress well
17. Compliance with all Bank Secrecy Act (BSA), Anti-Money Laundering (AML) laws, and Office of Foreign Asset Controls (OFAC) requirements is required.  Employee must complete annual training in these areas

WORK ENVIRONMENT

 This job operates in a clerical office setting with climate-controlled surroundings, adequate lighting, and little or moderate noise when in the office.  These standards must be met if working remotely.  In this role, the individual routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets, and fax machines.  

 PHYSICAL DEMANDS

 This is largely a sedentary role; however, some filing and photocopying is required. This would require the ability to lift files, open filing cabinets, and bend or stand as necessary.  
 

EXPECTED HOURS OF WORK

 Days and hours of work are Monday through Friday, 8:30 A.M. to 5 P.M.  Evening and weekend work may be required, as job duties demand. 

OTHER DUTIES

 This position performs additional duties as assigned, given adequate guidance and resources.  This Job Description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job.  Duties, responsibilities and activities may change at any time with or without notice.