What are the responsibilities and job description for the Mortgage Loan Processor III position at Waterstone Mortgage Careers?
SUMMARY:
Join our team as a Mortgage Loan Processor III and play a critical role in delivering a seamless mortgage experience from application to closing. We're seeking an experienced processor with a strong background in Conventional, FHA, VA, and USDA loan programs, along with knowledge of New Mexico bond programs. In this in-office role, you'll manage complex loan files, collaborate with internal and external partners, ensure compliance with lending guidelines, and keep loans moving efficiently through the pipeline. If you thrive in a fast-paced environment and take pride in accuracy and exceptional customer service, we'd love to hear from you.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Review new file within 48 hours of receipt and verify that compliance documents were issued within proper time frame. Notify the appropriate staff member if additional documentation or information is needed.
- Ability to maintain a pipeline of 20 to 30 files and/or three to five loan originators.
- Order all necessary documents to satisfy AU and/or product requirements from Loan Originator, customer or Vendor.
- Track all requested documents in Encompass.
- Review documentation received within 24 hours of receipt for discrepancies, omitted data, calculate verified income, verify assets and update Encompass based on verified information.
- Immediately notify Loan Originator of any discrepancies on documentation. Loan Originator will determine necessary remedies.
- Prepare loan for underwriting submission by utilizing investor's submission checklist.
- Clear any approval or suspense conditions as outlined by the underwriter.
- Ensure that all appropriate closing documentation is in the loan file (i.e. title documentation, home owners insurance, etc.). Documents are to be reviewed within 24 hours of receipt and communicated with Loan Originators.
- Loans are to be processed to meet contract deadlines and rate lock expiration dates.
- File to be given to closing department within timelines established by WMC.
- Assist other processors, Underwriters and Closing departments as needed.
- Respond to customer inquiries and other related parties on a transaction as needed.
- Assist with the clearing of post-closing exceptions received by investor to ensure WMC does not incur any financial loss.
- Knowledge of current state's mortgage lending laws.
- Order FHA and VA case numbers on government sites.
- Possess knowledge of Real Estate compliance guidelines and ability to implement them.
- Maintain a focus on enhancing customer service skills and knowledge
ADDITIONAL DUTIES:
- Complete any additional duties as assigned by management
- Complete regulatory and compliance training, as required.
- Assist WMC employees and departments as needed
QUALIFICATIONS: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or EXPERIENCE: A high school diploma or general education degree(GED) and 3 years of convention fixed and ARM, HELOC and construction mortgage loan processing is required. Extensive knowledge of VA and FHA loan processing and experience working with multiple investors is required.
COMPUTER SKILLS: Advanced knowledge of related computer applications such as Microsoft Office is required. The ability to accurately input data is required.
CUSTOMER SERVICE SKILLS: Using excellent customer service skills which includes maintaining a good attitude, taking ownership of meeting customer needs, going above and beyond for customers, demonstrating a commitment to sharpening skills through education and training, using positive communication, and looking for opportunities to respect customers’ time and schedules is required. Experience on a mortgage loan processing system (Encompass) is preferred.
CERTIFICATES, LICENSES, REGISTRATIONS: This position may require registration under the National Mortgage Licensing System (NMLS) if processing a loan being originated in a state that requires federal registration. Individual must be in good standing with or be approved by NMLS in accordance with the S.A.F.E Act.