PrimeLending, A PlainsCapital Company
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(Mortgage) Loan Processor
at PrimeLending, A PlainsCapital Company
- Req #
- Mortgage Operations
- Location Name
- (Mortgage) Newburgh, NY - Newburgh
Under the direction of the Branch Manager, Operations Manager and/or Processing Supervisor, evaluates all information supplied on the mortgage loan application, verifies the
validity of the information and assembles a completely documented file to Underwriting and Closing. Acts as the primary liaison between the loan officer, loan officer assistant, realtors,
builders and the customer(s).
- Maintains knowledge of all policies and modifications to the guidelines and standards of the company, federal housing programs, investors, and private mortgage insurers.
- Maintains and updates loan application information within loan origination software and other applications.
- As applicable, orders appraisals, title, survey, verifications, and any other items required for loan approval; conducts regular follow-ups with outside sources regarding outstanding documents.
- Verifies the data collected, analyzes, and decides whether it meets guidelines or if other documentation is needed; documents communication through the conversation log; ensures loan application is in compliance with underwriting, investor, RESPA, and HMDA guidelines.
- Calculates income, reviews assets and liabilities.
- Reviews all disclosures for completeness and compliance.
- Completes final evaluation and analysis of completed application packages and submits eligible files specifying any applicable conditions.
- Monitors rate lock information for data integrity and expiration dates; communicates discrepancies to the Loan Officer.
- May maintain accurate pipeline to ensure proper projections, closings, and regulatory compliance with Company, Federal, and State standards.
- May prepare, when applicable, “Declination Letters.” Ensures accurate disclosure of the reason(s) for the adverse action as soon as it is determined that applicants do not qualify.
- May schedule closing appointments with respective parties (i.e. title companies, closing attorneys, corporate closing department and customers etc.) Meets customer service standards as outlined by management.
- May facilitate training of junior or newly hired processors regarding specific Prime operations including file flow, loan origination software, and other applications.
- Updates loan officer, loan officer assistant, realtors, builders and customers on loan status.
- Maintains communication with customers throughout the loan process, assisting them with any questions and notifying them of any additional requirements.
- Maintains a professional image and adheres to standards consistent with company policies and procedures.
- Other duties as assigned.
- High school diploma or equivalent.
- Minimum of 1 year mortgage banking experience as a processor or junior processor, required.
- Must have working knowledge of Fannie Mae/Freddie Mac and FHA/VA policies and guidelines, as well as, Regulatory Mortgage Compliance, state, federal, local government, private investors and insurers.
- Must have working knowledge, or the ability to learn all operating systems and possess the ability to facilitate training.
- Proficient in Excel, Word, Outlook, with the ability to learn other mortgage-related programs.
- Excellent written and verbal communication skills.
- Excellent organizational and time management skills.
- Demonstrated ability to interact effectively with branch, regional and corporate personnel, as well as realtors, sales agents, builders, appraisers, title companies, etc.
- Demonstrated judgment and decision making ability.
- Must be available to work all regularly scheduled hours; arriving at scheduled reporting time and at the prescribed time after any breaks or lunch periods.
- Must be able to work overtime, as required.