Loan Processor
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Total Mortgage Services LLC
West Hartford, CT, US
Summary
The Loan Processor is responsible for managing the end-to-end processing of first mortgages, including reviewing applications, calculating income, and preparing files for underwriting. They must also maintain effective communication with borrowers and internal teams to ensure all critical dates and conditions are met.
Job Description
Job Description
Job Title: Loan Processor
Department: Processing
Location: Hybrid/Remote - CT based
Position reports to: VP, Sr. Mortgage Banker
TMS Core Values:
Do the Right Thing; Embrace and Drive Change
Create and Maintain High Morale, Job Fulfillment and Enjoyment
Be Creative and Open-Minded
Pursue Growth and Learning in Self and Team
Build Open and Honest Relationships with Communication
General Purpose and Scope (Summary):
This position is responsible for processing first mortgages within the required timeframe.
This is a hybrid role, candidate must be based in CT!
Functions:
• Review the loan application in Encompass and update any inaccuracies based on borrower documentation, credit report, fraud report, etc.
- Complete an income calculation for all borrowers and prepare the file for underwriting.
- Make a welcome/ introduction phone call to discuss the upcoming loan process and request any items that may be needed for initial submission to underwriting.
- Order all necessary verifications on each loan file including title report, fraud, written or verbal verification of employment, tax transcripts
- Work with borrower(s) to obtain conditions requested by the underwriter. Break conditions down in layman’s terms.
- Manage pipeline to ensure critical dates are met including contingency, contract closing, and lock expiration.
- Monitor important expiration dates on loans in pipeline – including credit report, appraisal, income & asset documents, rate lock.
- Provide support to sales team.
- Communicate effectively with internal departments and external partners/customers.
Responsibilities:
• Strong customer service, communication, organization and problem resolution skills
- Must be able to meet established minimum daily expectations
- Maintains effective communication to ensure the highest quality of customer service
Pay: Salary + bonus eligible
Personal Traits / Competencies:
- Exceptional interpersonal and communication skills
- Provide world-class customer service
- Must be able to multi-task
- Strong attention to detail
- Team player and works well independently
- Ability to listen and make decisions quickly
Technical / Computer Skills:
- Familiarity with Encompass
- Proficient Microsoft Word, Excel, Outlook
- Experience in state bond programs a plus
Education and Experience:
- High school diploma or equivalent
- A minimum of 2-years experience in mortgages
- Knowledge of mortgage processing preferred, not required
- Familiarity with all types of mortgage products and state/federal regulatory guidelines.
Hours for position:
M-F 9am-5pm
This position may require frequent additional hours, at times on a daily basis; must be available to work additional hours on short notice as determined by management to meet customer service and investor requirements
Conclusion
This job description is intended to convey information essential to understanding the scope of the job and the general nature and level of work performed by job holders within this job. But, this job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.
