What are the responsibilities and job description for the Mortgage Loan Processor III position at Waterstone Mortgage Careers?
SUMMARY: Join our Fort Walton Beach, FL team as a Mortgage Loan Processor and be at the heart of the mortgage process! In this role, you’ll manage loan files, ensure compliance, and keep everything running smoothly to meet critical deadlines. If you’re upbeat, detail-oriented, have a positive attitude, and enjoy delivering exceptional service, this is your chance to make an impact and grow your career with us!
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
EDUCATION and/or EXPERIENCE:
- A high school diploma or general education degree (GED).
- 5 years of Conventional, FHA, and VA mortgage loan processing is required.
- Extensive knowledge of VA and FHA loan processing and experience working with multiple investors is required.
- Comfortable working in a high-volume production environment is required.
- Strong understanding of mortgage guidelines and loan flow from start to close is required.
- Experience on a mortgage loan processing system (Encompass) is preferred.
PERFORMANCE EXPECTATIONS:
- Highly proactive, not reactive
- Strong sense of urgency and accountability
- Consistent follow-up without reminders
- Detail-oriented with strong organizational skills
- Comfortable managing 100 emails and staying on top of pipeline
- Takes initiative without needing constant oversight
- Committed to meeting closing timelines
TECHNICAL EXPECTATIONS:
- Ability to proactively identify issues before underwriting flags them
- Strong file ownership from submission through closing
- Ability to manage and prioritize a high-volume pipeline
- Experience working with multiple stakeholders:
- Borrowers
- Realtors
- Title companies
- Loan officers
- Underwriters
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.
- Prompt response to emails and phone calls.
- Clear and professional communication with internal and external partners.
- Strong follow-through when others are delayed or unresponsive.
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.