Mortgage Loan Processor Job Description

mortgage loan processor job description includes a detailed overview of the key requirements, duties, responsibilities, and skills for this role.

Last update : July 14, 2023

Mortgage Loan Processor Job Description

A mortgage loan processor is a person who processes mortgage loan applications.

They receive loan applications, gather information, verify the information, and forward the application to underwriters for further processing.

In addition, mortgage loan processors also follow up on loans that are in underwriting and final approval stages.

They also review loan documents, calculate loan prices, and work with investors.

Within a financial institution, mortgage loan processors typically work for either the loan originators or the loan servicing department.

Loan originators originate mortgage loans while loan servicing departments service mortgage loans.

Loan processors receive applications, applicants, and loan-related documents.

Job Brief:

We’re looking for a Mortgage Loan Processor to join our team. As a Mortgage Loan Processor, you will be responsible for processing mortgage loan applications, ensuring that all required documentation is complete, and coordinating with other departments to obtain missing information. In addition, you will provide excellent customer service to borrowers and maintain strong relationships with loan officers, real estate agents, and others involved in the loan process. If you are detail-oriented, organized, and have excellent communication skills, we want you on our team!

Mortgage Loan Processor Duties:

  • Provide excellent client service, with knowledgeable and prompt responses to client questions and concerns
  • Complete processing, underwriting, and closing documents according to federal, state, and local laws
  • Review loan documents to verify accuracy and compliance
  • Set up all required systems and databases
  • Complete all required reports
  • Update and maintain project files
  • Contact borrowers and lenders for status updates
  • Research and resolve borrower and lender questions
  • Coordinate closings

Mortgage Loan Processor Responsibilities:

  • Conduct all pre-qualification and credit review functions to verify borrower qualifications, authorizations, and financial obligations
  • Research credit histories, employment, and financial histories for all borrowers and customers
  • Maintain and update Loan Estimate and Closing Disclosure
  • Respond promptly to inquiries from borrowers and customers
  • Process mortgage loan applications, which comply with all regulatory requirements
  • Provide accurate, timely, and high quality customer service
  • Maintain accurate borrower and loan portfolio records
  • Complete all necessary paperwork, including daily logs and work papers
  • Collect and prepare data in accordance with regulations
  • Produce reports to document loan processing activities
  • Perform other duties as assigned

Requirements And Skills:

  • Proven experience in a mortgage loan processor role
  • Strong decision-making capabilities
  • Above-average communication, collaboration, and delegation skills
  • Strong working knowledge of operational procedures
  • Ability to prioritize and organize multiple tasks simultaneously
  • Strong written, verbal, and interpersonal communication skills

[Company Name] is proud to be an Equal Opportunity Employer. We believe that diversity and inclusion are key to building a strong team. We encourage applications from people of all backgrounds, religions, nationalities, genders, , and ages. We are also committed to supporting veterans and individuals with disabilities.

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