What are the responsibilities and job description for the Mortgage Loan Processor position at SouthCoast Processing?
NOTE: If you are applying for this position without 2-years of residential mortgage loan processing experience and a state-issued NMLS License, your application will be automatically rejected. This is a firm requirement.
SouthCoast Processing is a boutique third-party processing company located in New Bedford, MA. We're known for our collaborative approach with our LOs where we don't just say we're an extension of their business, we live it.
**Overview:**
We are seeking a detail-oriented Mortgage Loan Processor to join our team. The ideal candidate will have a strong background in mortgage loan processing including Conventional, FHA, and VA loans. Experience with Non-QM or Commercial Loans a plus.
**Responsibilities:**
- Analyze credit reports and financial documentation to determine borrower's creditworthiness
- Calculate income, assets, and liabilities to ensure compliance with lending guidelines
- Communicate with borrowers, loan officers, underwriters, and other stakeholders to facilitate the loan process
- Ensure all loan files meet regulatory and compliance standards
- Assist in resolving any issues that may arise during the loan approval process
**Qualifications:**
- Knowledge of mortgage guidelines
- Familiarity with various mortgage products
- Strong attention to detail and organizational skills
- Ability to work efficiently in a fast-paced environment
- Excellent communication and interpersonal abilities
**Key Information:**
The information below is intended to offer additional information about the company and qualifications we are looking for:
- This position is almost all remote (1-2 times per year spend 1-day in-office in New Bedford, Massachusetts)
- Our company is unique in that the Mortgage Loan Processors do not do the initial review of the loans, submit the loans to underwriting, or handle any of the closing process. They work on the loans from submitted to underwriting through clear-to-close and during that time period handle all communication, document gathering, document review, underwriting collaboration, and business partner communication so the loan officer does not have to be involved at all.
- Strong preference given to candidates with mortgage broker experience or a proven track record of quick pipeline movement. Our company's average CTC time is 14.2 days.
- Preference given to candidates where their response includes the top 5-6 investor portals they are comfortable working in and top mortgage products they have strong knowledge of.
In order to be considered for this position, you must hold a state-issued NMLS License (not a federal/bank sponsored registration).
Are you starting to get the sense that we roll differently than most others? That would be accurate... memes fly all day in the company Slack, every CTC is celebrated, we hold underwriters accountable, we love our weekly all-hands team huddle where we all get better, and our loan officers are like family.
Job Type: Full-time
Pay: $70,000.00 - $85,000.00 per year
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Paid time off
Application Question(s):
- Please tell us about your experience in the broker/wholesale space and the top 3 lender portals you are familiar with.
Experience:
- Residential Mortgage Loan Processing: 2 years (Required)
Work Location: Remote
Salary : $70,000 - $85,000