What are the responsibilities and job description for the Loan Processor position at Cliffco Mortgage Bankers?
Job Description
Job Description
Salary : Position Overview
We are seeking a detail-oriented and experienced Loan Processor with proficiency in Encompass Loan Origination System and fluency in Chinese (Mandarin / Cantonese) to join our team. The Loan Processor will play a critical role in ensuring the efficient processing and closing of mortgage loans while maintaining compliance with federal, state, and company regulations. This individual will act as a liaison between borrowers, loan officers, underwriters, and other stakeholders, providing exceptional service to our diverse client base.
Key Responsibilities
Loan Processing and Documentation
Review, verify, and compile all borrower documentation required for loan applications, including income, credit, and asset statements.
Input and manage loan data using the Encompass Loan Origination System, ensuring accuracy and completeness.
Order and track third-party services, such as appraisals, credit reports, and title work, to meet deadlines.
Communicate with borrowers to request additional information or clarify discrepancies in documentation.
Ensure all loan files meet compliance requirements, including RESPA, TILA, and HMDA regulations.
Communication and Coordination
Serve as the primary point of contact for borrowers during the loan processing phase, addressing questions and providing updates in English and Chinese.
Collaborate with loan officers, underwriters, and closing teams to ensure timely and accurate loan processing.
Coordinate with third-party vendors to obtain necessary documentation and resolve any issues that may arise.
Compliance and Accuracy
Ensure all loans meet internal and external compliance standards, including quality control checks and audits.
Maintain meticulous records of loan files and correspondence for regulatory and legal purposes.
Stay updated on industry regulations and company policies to ensure adherence to all guidelines.
Customer Service
Provide exceptional service to borrowers by maintaining open lines of communication, addressing concerns promptly, and ensuring a smooth loan process.
Assist borrowers with understanding loan terms and requirements, leveraging fluency in Chinese to serve a diverse clientele effectively.
Qualifications
Education and Experience
High school diploma or equivalent required; associate or bachelors degree preferred.
3 years of experience as a Loan Processor in the mortgage industry.
Proficiency in using Encompass Loan Origination System is required.
Fluency in Chinese (Mandarin and / or Cantonese) is required.
Skills and Competencies
Strong knowledge of mortgage loan products, including conventional, FHA, VA, and jumbo loans.
Familiarity with regulatory requirements, including RESPA, TILA, and HMDA.
Exceptional attention to detail and organizational skills.
Ability to multitask and manage time effectively in a fast-paced environment.
Strong communication and interpersonal skills to interact with borrowers, team members, and third-party vendors.
Proficiency in Microsoft Office Suite (Word, Excel, Outlook).
Preferred Qualifications
Knowledge of additional mortgage software or systems.
Prior experience working with diverse, multilingual clients.
Key Competencies
Detail-Oriented : Ensures accuracy in loan files and compliance with all regulatory requirements.
Bilingual Communication : Effectively communicates with borrowers in English and Chinese, ensuring a seamless experience.
Problem-Solving : Identifies and resolves issues proactively to maintain loan processing timelines.
Team Collaboration : Works closely with loan officers, underwriters, and vendors to achieve shared goals.
Benefits :
Competitive salary and bonus structure.
Health, dental, and vision insurance.
Opportunities for professional growth and development.
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