Mortgage Loan Processor in New Brighton, Minnesota at SERVION INC

SUMMARY:

The Mortgage Loan Processor is responsible for performing a wide range of administrative duties related to the timely and accurate processing of residential first mortgage loans. This role involves reviewing, validating, and preparing loan documentation to ensure files are complete and compliant prior to closing.

The Mortgage Processor must maintain effective communication with borrowers, loan officers, underwriters, and closers to coordinate the exchange of information and facilitate a smooth loan closing process. Attention to detail, organizational skills, and the ability to manage multiple files simultaneously are essential.

This position operates under moderate supervision, with performance evaluated based on accuracy, timeliness, and the successful achievement of processing objectives.

ESSENTIAL RESPONSIBILITIES & DUTIES:

Level I

• Communicates with loan officers and internal customers
• Reviews residential loan application file to verify that application data is complete and meets establishment standards, including but not limited to type and amount of mortgage, borrower assets, liabilities, and length of employment.
• Understands mortgage real estate lending practices, including federal regulatory requirements, state regulations, agency and Credit Union requirement.
• Enters information into loan origination system; verifies the accuracy and integrity of all loan data entered into the system including but not limited to names, addresses, government monitoring information, loan information (i.e. loan amount, interest, terms, lock-in expiration dates, etc.)
• Conducts follow up on outstanding documentation to ensure receipt within turn-around time standards.
• Reviews appraisals to ensure that the required level of appraisal fieldwork has been completed, that they are professional quality and are prepared in a way that is consistent with Fannie Mae requirements.
• Manages incoming appraisal reports and request reviews
• Submits full credit package for Mortgage Insurance Certificate.
• Makes sure the loan is locked prior to closing.
• Works with staff and co-workers as a team in analyzing and solving situations that may arise in the mortgage origination loan process.

Level II

• Must be able to perform all responsibilities and functions listed for Level I with a high degree of efficiency and independence
• Experience and independent ability to process FHA and VA
• Understand government mortgage loan programs and knowledge of the necessary documentation for processing and obtaining underwriting approval.
• Enter data on FHA Connection, and VA Platforms
• Must have 2+ years of Experience with Encompass LOS

Level III

• Must be able to perform all responsibilities and functions listed for Levels I & II with a high degree of efficiency and independence
• Experience and independent ability to process USDA files
• USDA & non-saleable
• Review and validate GUS findings
• Perform other duties as required

ESSENTIAL DUTIES, KNOWLEDGE, SKILLS, ABILITIES:

Required:

• Strong attention to detail and organizational skills
• Ability to manage multiple files and meet deadlines in a fast-paced environment
• Excellent written and verbal communication skills
• Knowledge of mortgage lending guidelines and documentation requirements
• Proficiency in mortgage processing systems and standard office software
• Knowledge of recent compliance regulations.
• Ability to analyze paperwork/pre-underwriting.
• Excellent communications skills and proven effectiveness in working with loan originators and partners.
• Ability to work with a wide range of personalities in a courteous, effective, and efficient manner.
• Ability to input data accurately and efficiently into computer software systems.
• Ability to work under the stress maintaining the proper liaison between members, Loan Officers, Realtors, and vendors to facilitate loan transactions in compliance with all policies, procedures, and legal and ethical guidelines.
• Ability to exchange information and to report facts and technical information clearly and concisely.
• Ability to attend accurately to many details in a timely manner.
• Ability to comprehend the consequences of various problem situations and to refer them to the appropriate people for resolution.
• Ability to resolve questions and problems with the supervisor and to manage personal workflow and meet deadlines.
• Ability to add, subtract, multiply and divide accurately all units of measure, to perform these four operations with like or common decimal fractions, to compute rates and percentages and to perform arithmetic operations involving all American monetary units with a calculator.
• Ability and willingness to work overtime hours as requested.

COMPENSATION: $21.89 - $27.11 per hour.

Servion has provided a salary range that represents its good faith estimate of what the company may pay for the position at the time of posting. The specific salary offered will be determined based on factors such as the qualifications of the selected candidate, departmental budget, internal salary equity considerations, and available market information.

General Description of Benefits:
All full-time employees are eligible for Medical Insurance, Telehealth Services, Dental Insurance, Vision Insurance, Life Insurance, Short-term Disability, Long-term Disability, Legal and Identity Theft Protection, Critical Illness Insurance, Hospital Insurance, Accident Insurance, Participation in 401k Plan with up to 5% company match, and Variable Bonus Pay.

PREFERRED QUALIFICATIONS:

• Education: High school diploma; 2–4-year degree or the equivalent combination of education and experience preferred.
• Experience: Level I 1+ years in mortgage or financial services industry; Level II 2+ years conventional, FHA and VA mortgage loan processing; Level III 3+ years conventional, FHA, VA and US mortgage loan processing.
• Certifications: None