Loan Processor (US Mortgage)

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Overview

The Loan Processor is responsible for managing and processing residential mortgage loan applications from submission through to settlement. This role ensures that all required documentation is collected, verified, and submitted in compliance with lender, investor, and regulatory requirements. The ideal candidate is detail-oriented, organized, and capable of working in a fast-paced environment while delivering exceptional service to loan officers, underwriters, and borrowers.

Key Responsibilities

• Review new loan applications to ensure all required documents are included and accurate.
• Verify borrower information including income, employment, credit, assets, and liabilities.
• Order and follow up on third-party services such as appraisals, title reports, and verifications of employment.
• Communicate proactively with loan officers, underwriters, and borrowers to obtain missing information or resolve discrepancies.
• Submit complete and compliant loan files to underwriting for approval within required timelines.
• Ensure loans meet all lender and investor guidelines prior to closing.
• Track the progress of each file and maintain accurate documentation in the loan origination system (LOS).
• Coordinate with title companies, closing agents, and other stakeholders to schedule settlements.
• Review closing disclosures and final documents for accuracy.
• Maintain compliance with all applicable federal, state, and investor regulations (e.g., TRID, RESPA, ECOA).
• Provide regular status updates to loan officers and borrowers throughout the process.

Skills and Qualifications

• Experience: 2+ years of experience in US mortgage processing preferred.
• Knowledge: Strong understanding of loan products (Conventional, FHA, VA, USDA), DU/LP systems, and mortgage compliance.
• Technical Skills: Proficiency in Loan Origination Systems (e.g., Encompass, Calyx, or similar), Microsoft Office Suite, and document management tools.
• Communication: Excellent written and verbal communication skills with the ability to liaise professionally with clients and team members.
• Organization: Strong attention to detail and ability to manage multiple files simultaneously under strict deadlines.
• Problem-Solving: Ability to identify issues quickly and work collaboratively to resolve them.

Preferred Qualifications

• Prior experience working with US-based mortgage lenders or brokers.
• Familiarity with investor guidelines such as Fannie Mae, Freddie Mac, FHA, and VA.
• Knowledge of TRID and other compliance requirements.
• Ability to work independently in a remote or hybrid setting.
• Typical Performance Metrics
• File quality and compliance accuracy
• Turnaround time from submission to underwriting
• Loan pull-through rate

Customer and loan officer satisfaction