Lead Mortgage Loan Processor
5 - 7 years experience • Financial Services
Loan Processor Lead – Seattle (Northgate), WA 98125
Salary Range: Open, DOE + per file Bonus + great Benefits (Medical, Dental, 401(k), more!!)
Full Time/Direct Hire
The Loan Processor Lead plays an important role in the organization by performing a number of activities related to the company’s retail branch operations functions. The role is primarily responsible, under limited supervision, for accurately and efficiently processing residential mortgage loans. This may involve acting as a liaison between Loan Officer(s), Borrower(s), Underwriter(s), and Funder(s), preparing and reviewing loan files, and resolving issues that delay loan closings. The Lead Loan Processor is considered a “go-to” subject matter expert for the team.
- Provide training, guidance, and coaching to Processors to address and clarify issues related to processing procedures and requirements, products, systems, and required documentation.
- Review the work of new Processors or less experienced Processors to improve their process and productivity.
- Monitor the overall lending process, and identify, resolve, and communicate issues that could impact timely closure of loans.
- Request and review any necessary supporting documentation within required timeframes, including credit checks, title reports, appraisals, tax returns, verifications of employment/assets, etc.
- Analyze borrower loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of down payment funds, and examine all supporting documentation to identify potential fraud or misrepresentation.
- Verify program applicability and accuracy of Automated Underwriting System (AUS) findings.
- Review and verify documentation integrity to ensure it aligns with findings, completeness, and compliance, including company standards, federal and agency regulations, standards, and guidelines, as well as any applicable state-specific and/or local regulations and ordinances; restructure loan as necessary and submit loan file to underwriting for approval.
- Update and verify accuracy of data input into electronic system.
- Provide viable options to borrowers who may qualify for suitable programs.
- Obtain and verify clearance of all underwriting conditions and prepare the file for submission to Closing.
- Order any applicable loan documents.
- Use and modify templates to compose professional correspondence and emails as needed.
- Provide status updates and communicate withinternal and external stakeholders as needed.
- Stay abreast of industry trends and changes to regulations.
- Perform other duties as necessary.
- High school diploma or equivalent required; college courses/technical training related to Business, Finance/Accounting, Legal, or related field is preferred, along with a minimum of six years total experience in Mortgage loan processing.
- Expert-level knowledge of overall mortgage lending internal processes and controls, as well as federal, state, and regulatory requirements/guidelines related to consumer mortgage lending for conventional loans.
- Expert-level knowledge of conventional loans, FHA, VA, and Bond mortgage loans, including various product/program guidelines, necessary conditions for approval, and investor specific guidelines.
- Expert-level knowledge of valid documentation related to processing consumer mortgage applications (e.g., tax returns, financial statements and records, verification of income and deposits, etc.).
- Expert-level knowledge in new construction documentation and condominium projects.
- Ability to think critically, including the ability to evaluate facts and data to draw conclusion, determine downstream impact of decisions and associated risks.
- Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
- Passionate about delivering excellence in customer service.
- Strong verbal and written communication skills.
- Intermediate math skills.
- Strong detail orientation and highly organized.
- Prior experience using internal data entry systems, Microsoft Word, Excel and PDF/Document Retention programs.
- Ability to use interpersonal skills to build strong relationships withLoan Officers, Production, Underwriting, Closing, and otherinternal and external partners.
- Ethical, with a commitment to company values.
- Infrequent supervisionrequired, depending on experience
- Moderate to high level of independent judgment and discretion used in relation to area(s) of specialization, depending on experience
- Provide guidance to less experienced team members
- Resolve escalated issues of high complexity
If you are seeking a well-established mortgage corporation that gives back to the community, a company that offers you stability and ample career growth in a beautiful work environment, then please email your resume for immediate consideration.