Loan Processor
Lending Hand Mortgage, Nashville, TN, United States
Senior Loan Processor – Job Description
Job Summary
The Senior Loan Processor is responsible for overseeing the mortgage loan process from file intake through clear-to-close. This role ensures accuracy, completeness, and compliance of loan files, manages underwriting conditions, and maintains proactive communication with all stakeholders. As the primary point of contact for borrowers, loan officers, and third parties, the Senior Loan Processor plays a critical role in delivering a smooth, timely, and transparent loan experience.
Key Responsibilities
File Intake
Receive loan files from Processor 2.
Submit files received by 4:00 PM on the same business day.
File Review & Submission
Review all documents for:
Validity within required date ranges (e.g., paystubs, W-2s, financial statements).
Completeness and accuracy.
If documentation is missing or incorrect:
Return the file to the Loan Officer (LO) or Loan Officer Assistant (LOA) for correction.
Once complete:
Submit the loan to the investor.
Send welcome emails and make introductory calls to all parties involved.
Post-Underwriting Actions
Within 2 hours of receiving the underwritten file:
Enter all conditions into the Condition Screen in ARIVE.
Send the condition list to the borrower via the Client Needs section.
Upload all received documentation.
Notify all parties of conditional approval via phone.
Review conditions with the borrower and discuss any agent-related items.
Condition Management
Follow up with borrowers, agents, and third parties to ensure conditions are returned within 48–72 hours.
Upload all collected conditions to the investor.
Ensure the file reaches Clear to Close (CTC) status at least 5 days prior to the scheduled closing.
Promptly update systems and notify all parties of any changes to the closing date.
Communication & Updates
Maintain consistent communication with all stakeholders (borrower, agent, LO, LOA, etc.) throughout the loan process.
Keep all system platforms updated, including:
Changes to loan amounts, sales prices, fees, etc. (LOA may assist).
Detailed notes for accurate loan tracking.
Escalate unresolved issues to the appropriate internal team members (Processing Manager, Sales Manager, LOA, LO).
Document Management
Ensure timely delivery and signatures for all time-sensitive documents, including:
Loan Estimate (LE)
Initial Closing Disclosure (CD)
Appraisal
Other borrower-facing documents
Final Steps – Clear to Close
Upon receiving CTC status:
Notify all parties via phone.
Offer the option of a Hybrid Closing.
Send a closing confirmation email introducing the closing team and confirming CTC.
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Key Responsibilities
File Intake
Receive loan files from Processor 2.
Submit files received by 4:00 PM on the same business day.
File Review & Submission
Review all documents for:
Validity within required date ranges (e.g., paystubs, W-2s, financial statements).
Completeness and accuracy.
If documentation is missing or incorrect:
Return the file to the Loan Officer (LO) or Loan Officer Assistant (LOA) for correction.
Once complete:
Submit the loan to the investor.
Send welcome emails and make introductory calls to all parties involved.
Post-Underwriting Actions
Within 2 hours of receiving the underwritten file:
Enter all conditions into the Condition Screen in ARIVE.
Send the condition list to the borrower via the Client Needs section.
Upload all received documentation.
Notify all parties of conditional approval via phone.
Review conditions with the borrower and discuss any agent-related items.
Condition Management
Follow up with borrowers, agents, and third parties to ensure conditions are returned within 48–72 hours.
Upload all collected conditions to the investor.
Ensure the file reaches Clear to Close (CTC) status at least 5 days prior to the scheduled closing.
Promptly update systems and notify all parties of any changes to the closing date.
Communication & Updates
Maintain consistent communication with all stakeholders (borrower, agent, LO, LOA, etc.) throughout the loan process.
Keep all system platforms updated, including:
Changes to loan amounts, sales prices, fees, etc. (LOA may assist).
Detailed notes for accurate loan tracking.
Escalate unresolved issues to the appropriate internal team members (Processing Manager, Sales Manager, LOA, LO).
Document Management
Ensure timely delivery and signatures for all time-sensitive documents, including:
Loan Estimate (LE)
Initial Closing Disclosure (CD)
Appraisal
Other borrower-facing documents
Final Steps – Clear to Close
Upon receiving CTC status:
Notify all parties via phone.
Offer the option of a Hybrid Closing.
Send a closing confirmation email introducing the closing team and confirming CTC.
#J-18808-Ljbffr