Mortgage Loan Processor - Residential Lending - Bowie, MD

This position is 100% Remote.

Associate's degree (A.A.) or equivalent from two-year college or technical school; or six months to one year related experience and/or training; or equivalent combination of education and experience.

SUMMARY:

To work with the MLO and customer to gather, organize and review required documents and reports for a Mortgage Loan Application to be considered for approval by Underwriting. Assist in preparing approved mortgage loan requests for Closing.

ESSENTIAL FUNCTION:

Banking is a highly regulated industry and you will be expected to acquire and maintain a proficiency in the Bank's policies and procedures, and adhere to all laws, rules and regulations that are applicable to your conduct and the work you will be performing. You will also be expected to complete all assigned compliance training in a timely manner.

ESSENTIAL DUTIES:

Provide exceptional, professional service to mortgage loan customers, MLOs, Underwriters and Closers.

Consistently perform job duties in accordance with the Service Level Agreement established by the Bank for your position.

Review mortgage loan applications for completeness and accuracy.

Collect required documents and reports to process a mortgage loan request.

Prepare a complete and paperless loan file in Encompass for Underwriting.

Prepare approved loans for delivery to Closing.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Accept the loan application and related file in Encompass from MLO.

Determine that the application fee (credit, flood, appraisal) and related GL tickets are in file.

Confirm that a sales agreement is in file for purchases.

Order required reports: appraisal, flood certification, title search or title insurance and tax transcripts (form 4506T)

Perform preliminary review of the above reports upon receipt.

Organize file as required in the Encompass system for each type of loan.

Review loan application, disclosures and required documentation.

Application is complete and accurate based on supporting documentation.

Disclosures are complete and signed by customer as required.

Review and verify income information and review or prepare self employment income analysis.

Verify assets and sufficient funds for require equity, pre-paid expenses and closing costs.

Review credit report and compare it to reported debts and payments.

Determine if any required documentation is needed.

Complete a welcome call to customer: review loan terms, application process and required information.

Follow up for documents not returned in a timely manner or incorrect documents such form 4506T.

Run high cost test and DU/LP.

Submit completed paperless file to Underwriting.

Take status calls from customer, MLO or realtor.

Notify customer and loan officers of underwriting decision.

If loan is approved, gather information required to clear any outstanding loan conditions.

Assist in coordinating closing and send file to Closing.

Consistently meet processing milestones as established by Bank.

Must provide exceptional, professional service to mortgage customers, originators, underwriters and closers.

SUPERVISORY RESPONSIBILITIES:

This job has no supervisory responsibilities.

COMPETENCIES:

Strong customer service skills.

Ability to process all Portfolio and all Secondary Market loans.

Ability to review personal and business tax returns to determine qualifying income.

Strong organizational and time management skills.

Experience and proficiency with Microsoft Office and mortgage loan processing software.

QUALIFICATIONS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

LANGUAGE SKILLS:

Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals. Ability to write routine reports and correspondence. Ability to speak effectively before groups of customers or employees of organization.

MATHEMATICAL SKILLS:

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry.

REASONING ABILITY:

Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.

CERTIFICATES, LICENSES, REGISTRATIONS:

N/A

OTHER SKILLS AND ABILITIES:

Able to multi-task under sometimes stressful conditions.

Ability to accurately type 30 WPM.

PHYSICAL DEMANDS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this Job, the employee is regularly required to sit and use hands to finger, handle, or feel. The employee is frequently required to reach with hands and arms and talk or hear. The employee is occasionally required to stand and walk. The employee must regularly lift and/or move up to 10 pounds and occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision and ability to adjust focus.

WORK ENVIRONMENT:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this Job, the employee is regularly exposed to moving mechanical parts and risk of electrical shock. The noise level in the work environment is usually moderate.

ADDITIONAL INFORMATION: