Mortgage Loan Processor- Edina, MN (or remote)

PrimeLending is hiring a Loan Processor to support our Edina, MN business!

• We are seeking an experienced (2 years minimum) Loan Processor to evaluate all information supplied on the mortgage loan application
• Come be a part of a very stable, high-producing mortgage team! This group is established and has been working together for over 10 years

Duties:

• Verify the validity of the information and assembles a completely documented file to Underwriting and Closing
• Act as the primary liaison between the loan officer, loan officer assistant, realtors, builders and the customer(s)
• Maintain knowledge of all policies and modifications to the guidelines and standards of the company, federal housing programs, investors, and private mortgage insurers
• Maintain and update loan application information within loan origination software and other applications
• Order appraisals, title, survey, verifications, and any other items required for loan approval; conduct regular follow-ups with outside sources regarding outstanding documents
• Verify the data collected, analyze, 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
• Calculate income, review assets and liabilities
• Review all disclosures for completeness and compliance
• Complete final evaluation and analysis of completed application packages and submits eligible files specifying any applicable conditions
• Monitor 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"
• Ensure 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.)
• Meet customer service standards
• May facilitate training of junior or newly hired processors regarding specific operations, including file flow, loan origination software, and other applications
• Update loan officer, loan officer assistant, realtors, builders and customers on loan status
• Maintain communication with customers throughout the loan process, assisting them with any questions and notifying them of any additional requirements
• Maintain a professional image and adhere to standards consistent with company policies and procedures

Qualifications:

• High school diploma or equivalent
• Minimum of 2 years of mortgage banking experience as a processor or junior processor
• 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