Loan Processor

Job Details

Corp - Point Mortgage - Chula Vista, CA

Fully Remote

$25.00 - $31.00 Hourly

Loan Processor

Job Purpose

Prepare and process Conventional, Jumbo, Non-Agency, and Government (FHA/VA) mortgage loans under various loan programs. Sr. Loan Processor will be responsible for performing a variety of loan documentation duties as necessary for the loan process, per Point Mortgage Policies and Procedures; ability to meet Close of Escrow dates and rate lock.

Duties and Responsibilities

• Conduct thorough review and evaluation of borrower credit loan file, along with, but not limited to, income documentation / income calculation worksheet, employment verification, and assets documentation. Proactive in checking documentation for accuracy and potential red flags.

• Review AUS findings and confirm with borrower documentation received for loan submission criteria.

• Full knowledge of regulatory and compliance guidelines, particularly LE / CD (Loan Estimate and Closing Disclosure). Ability to re-disclose and complete Change in Circumstance when necessary, meeting necessary disclosure waiting periods.

• Request, review and balance fees for CD (Closing Disclosure) prior to closing.

• Subject matter expert on Down Payment Assistance Programs, FHA & VA guidelines specific to borrower eligibility, mortgage history, appraisal, and cash requirements.

• Ability to pull FHA Case Number and CAIVRS, Order Certificate of Eligibility.

• Ability to order / request credit supplements, appraisal revisions, title & escrow documents as necessary, SSA verification, flood cert, and 4506-T verification as necessary.

• Obtain escrow documents as necessary, including vesting amendment, payoff demands, purchase addendums, and updated hazard insurance.

• Analyze underwriting conditions and obtain necessary items required, including Mortgage Insurance submission and certification, and obtain necessary flood insurance per NFIP and investor requirements.

• Communicate with appropriate parties to satisfy underwriting conditions: VOD, VOE, etc.

• Review and satisfy prior to funding and post-closing conditions when required.

• Maintain excellent customer service with internal and external clients.

• Maintain professional working relationship and transparent communication with direct manager, Underwriter, Loan Officer and Loan Officer Assistant.

• Maintain a high degree of confidentiality.

• Maintain consistent and satisfactory attendance.

• Must close/fund a minimum 15 loans per month on a consistent basis, as capacity and volume allows.

• Ability to analyze and process Jumbo, Non-Agency, and Investor Delegated loans, as assigned.

Qualifications

Position descriptions are developed as guides for the employees of Point Mortgage. The management team of Point Mortgage reserves the right to modify job responsibilities and position requirements to meet the corporate business goals and needs. This description does not create a contract or guarantee of employment.

Qualifications

• At least 5+ years Loan Processing experience.

• Knowledge of Fannie Mae, Freddie Mac, FHA/VA loan process and standard guidelines.

• Proficient with mortgage operating systems, preferably Encompass.

• Experience with Paperless and E-Documents.

• Ability to multi task and shift priorities.

• Must be punctual, reliable, and no trending issues with attendance.

• Must live in the Central Time Zone or must be able to work and support the Central Time Zone as part of daily tasks.

Working Conditions

• Flexibility to work in a high volume, fast paced environment.