What are the responsibilities and job description for the Loan Processor position at GoRascal?
Job Summary
We are seeking a detail-oriented and organized Loan Processor to join our financial services team. The ideal candidate will be responsible for managing the processing of loan applications, ensuring compliance with regulatory standards, and facilitating smooth loan approvals. This role requires a solid understanding of mortgage lending, underwriting, and loan origination processes, with a focus on delivering exceptional service to clients while adhering to industry regulations such as FNMA, TILA, and Fair Housing laws. The Loan Processor plays a vital role in supporting our loan officers and maintaining efficient loan operations.
Duties
- Review and verify loan documentation for completeness and accuracy in accordance with FNMA guidelines and underwriting standards
- Coordinate with borrowers, lenders, and third-party vendors to gather necessary information for loan approval
- Analyze credit reports, financial statements, and escrow details to assess borrower eligibility
- Prepare and process loan packages, including contracts, disclosures, and other required documentation
- Ensure compliance with Fair Housing regulations, TILA, and other federal/state lending laws
- Conduct credit analysis and evaluate borrower financials using basic math skills and 10-key typing for data entry
- Assist in mortgage servicing activities by updating loan files and tracking application statuses
- Collaborate with underwriters to facilitate timely approval or denial of loans
- Maintain detailed records of all processing activities and communicate effectively with stakeholders throughout the loan lifecycle
Requirements
- Minimum two years experience in mortgage processing
- Strong knowledge of FNMA guidelines, underwriting procedures, and mortgage servicing processes
- Familiarity with Fair Housing regulations, TILA compliance, and loan contracts
- Ability to perform credit analysis accurately using basic math skills and attention to detail
- Proficiency in loan origination software, banking systems, and Microsoft Office applications including 10-key typing skills
- Excellent organizational skills with the ability to manage multiple tasks efficiently under deadlines
- Knowledge of escrow processes and contract management is preferred
- Strong communication skills to liaise effectively with clients, lenders, and internal teams
This position offers an opportunity to work within a professional environment dedicated to compliance excellence and customer service. Candidates should be committed to maintaining high standards of accuracy while supporting the overall efficiency of our lending operations.
Pay: $50,670.18 - $61,022.14 per year
Work Location: In person
Salary : $50,670 - $61,022