Senior Mortgage Loan Processor
Key Mortgage Services, Schaumburg, IL, United States
The Loan Processor is responsible for the thorough review of a file. They prepare and verify the data on the loan application as well as supporting documentation that has been provided by the loan officer and submit the verified loan files to underwriting. If additional information is needed to render a decision, it is the Processor's responsibility to reach out to the borrower to obtain.
This role is Monday - Friday, 8:30am - 5pm with the opportunity to work from home Monday and Friday.
Essential Duties
Proactively manage a pipeline of loans and review daily reports to identify priorities. Escalate issues to supervisor, when needed
Provide excellent customer service
Respond promptly to all forms of communication
Communicate (both via phone and email)
Calculate income, review assets, know how to calculate student loan debt per product(conv or govt loans) and debt ratios
Must know how to review a credit report, identify issues that need to be addressed
Analyze the title report, purchase contract and appraisal on files for compliance
Perform verbal verifications of employment, when needed if our verification team is unsuccessful in obtaining
Communicate clearly and professionally with all customers, co-worker, supervisors and management
Ensure that the customer understands requests and time requirements, provide deadline for documents
Ensures loan quality standards are met, including the review and resolution of any red flags in a file and the satisfaction of all conditions
Required to open new loan submissions within 48 hours and validate all file information to ensure that all issues are identified so they may be resolved early
Contact the borrowers with a welcome call within the opening and validating period to ensure all required documentation is in the file to issue a credit decision
Ensure loan approval can be accomplished by the contingency date and that closing can be accomplished by the estimated closing date, communicate to LO if we are unable to meet a target so expectations can be reset
All requests for documentation should be completed through POS "Glyde"
Gather and review all documentation needed for the loan
Adhere to checklists and procedures
Create notes and a record of all requests in the conversation log to document issues or escalations
Prepare loan packets to submit to in-house underwriters, contract underwriters or investor underwriters for approval
All Loan Processors will also act as a back-up for other team members in processing due to scheduled and unscheduled absences or as volume dictates
Must know how to navigate Fannie Mae and Freddie Mac selling guides, FHA Handbook, and Allregs
Requirements
Knowledge of TRID, Know before you owe, Regulation B ECOA and other mortgage banking related guidelines
Familiarity with industry quality control standards and fraud detection methods
Experience with POS approval processes using LP, DO/DU and other AUS
Proficient computer skills including Microsoft Word, Excel and Outlook
Excellent people skills
Excellent verbal and written communication skills
Has the ability to multi-task in a very fast paced environment
Possesses excellent organizational skills
Has superior attention to detail
Proficient knowledge of office machines (faxes, computers, printers, adding machines and telephones)
Must be able to work independently and research problems / questions as required
Education And Professional Experience
Minimum of 3 years loan processing experience including conforming conventional, FHA, 203K, VA, USDA, IHDA, Chicago Tax smart programs and sub-prime loans
High School Diploma or equivalent required
About Key Mortgage Services When you show your people some love, good things happen. As an independent, family‑owned business, Key Mortgage feels like a big family because that's exactly what we are. Our secret is we invest in our people, and they keep getting better — so our company does, too. Support starts on day one, so you can focus on what's most important — delivering the highest quality home financing services to our customers. At Key Mortgage, we've got your back.
Benefits
PTO
VTO
Medical
Dental
Vision
401k matching
#J-18808-Ljbffr
This role is Monday - Friday, 8:30am - 5pm with the opportunity to work from home Monday and Friday.
Essential Duties
Proactively manage a pipeline of loans and review daily reports to identify priorities. Escalate issues to supervisor, when needed
Provide excellent customer service
Respond promptly to all forms of communication
Communicate (both via phone and email)
Calculate income, review assets, know how to calculate student loan debt per product(conv or govt loans) and debt ratios
Must know how to review a credit report, identify issues that need to be addressed
Analyze the title report, purchase contract and appraisal on files for compliance
Perform verbal verifications of employment, when needed if our verification team is unsuccessful in obtaining
Communicate clearly and professionally with all customers, co-worker, supervisors and management
Ensure that the customer understands requests and time requirements, provide deadline for documents
Ensures loan quality standards are met, including the review and resolution of any red flags in a file and the satisfaction of all conditions
Required to open new loan submissions within 48 hours and validate all file information to ensure that all issues are identified so they may be resolved early
Contact the borrowers with a welcome call within the opening and validating period to ensure all required documentation is in the file to issue a credit decision
Ensure loan approval can be accomplished by the contingency date and that closing can be accomplished by the estimated closing date, communicate to LO if we are unable to meet a target so expectations can be reset
All requests for documentation should be completed through POS "Glyde"
Gather and review all documentation needed for the loan
Adhere to checklists and procedures
Create notes and a record of all requests in the conversation log to document issues or escalations
Prepare loan packets to submit to in-house underwriters, contract underwriters or investor underwriters for approval
All Loan Processors will also act as a back-up for other team members in processing due to scheduled and unscheduled absences or as volume dictates
Must know how to navigate Fannie Mae and Freddie Mac selling guides, FHA Handbook, and Allregs
Requirements
Knowledge of TRID, Know before you owe, Regulation B ECOA and other mortgage banking related guidelines
Familiarity with industry quality control standards and fraud detection methods
Experience with POS approval processes using LP, DO/DU and other AUS
Proficient computer skills including Microsoft Word, Excel and Outlook
Excellent people skills
Excellent verbal and written communication skills
Has the ability to multi-task in a very fast paced environment
Possesses excellent organizational skills
Has superior attention to detail
Proficient knowledge of office machines (faxes, computers, printers, adding machines and telephones)
Must be able to work independently and research problems / questions as required
Education And Professional Experience
Minimum of 3 years loan processing experience including conforming conventional, FHA, 203K, VA, USDA, IHDA, Chicago Tax smart programs and sub-prime loans
High School Diploma or equivalent required
About Key Mortgage Services When you show your people some love, good things happen. As an independent, family‑owned business, Key Mortgage feels like a big family because that's exactly what we are. Our secret is we invest in our people, and they keep getting better — so our company does, too. Support starts on day one, so you can focus on what's most important — delivering the highest quality home financing services to our customers. At Key Mortgage, we've got your back.
Benefits
PTO
VTO
Medical
Dental
Vision
401k matching
#J-18808-Ljbffr