Loan Processor Job Description
Job summary 1
The Loan Processor is the key contact between the borrower and the Mortgage Loan Operation. The Loan Processor communicates with the Borrower(s) through verbal and written communication. They will review and request documents required for the underwriter to clear the file for closing and index new inbound documents, placing them in the correct file locations. The Loan Processor will determine when loans are ready to be returned for subsequent review. The Loan Processor is responsible for managing their pipeline of loans and communicating to the Sales personnel (Loan Officer) regarding loan status. In the role of Loan Processor, you will execute transactions as per prescribed guidelines and timelines, review and validates the inputs from the other team members, support your manager in training activities, and daily operations reviews, and help in escalation resolution to meet service level agreement targets for the specific process within the guidelines, policies, and norms.
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Job summary 2
A Loan Processor acts as a liaison between the borrower, sales team, and underwriting department.
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We are seeking an experienced Loan Processor to join our team.
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We currently looking for a Loan Processor. The right candidate will process mortgage loans and provide a high level of customer service to our builders and home buyers.
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A well-established organization is currently seeking a Loan Processor. This is a great opportunity for someone with 2-3 years of experience in loan processing and excellent customer service skills.
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We are looking for Loan Processors to join our team.
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We have an opening for a Loan Processor.
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The Loan Processor will be responsible for processing from start to finish, all new loans and loan modifications.
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We are hiring a Loan Processor.
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We are seeking a Loan Processor.
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Frequently asked questions
What are the duties of a loan processor?
A loan processor is responsible for processing loan applications for individuals and businesses. Some of the key duties of a loan processor may include:
Reviewing loan applications and verifying applicant information, such as employment and income details, credit history, and collateral.
Analyzing loan documentation and ensuring that all required documents are included in the loan application.
Communicating with loan applicants and answering their questions about the loan process.
Collaborating with loan officers and underwriters to assess loan applications and make decisions on loan approval or denial.
Preparing loan files for underwriting and ensuring that all required information is included.
Obtaining additional information or documentation from loan applicants as needed.
Maintaining accurate records and documentation related to loan applications and decisions.
Ensuring that all loan documentation complies with regulatory requirements and internal policies.
What skills do you need to be a loan processor?
Some of the key skills required for a loan processor may include:
Attention to detail: A loan processor should have excellent attention to detail to ensure that loan applications and documentation are accurate and complete.
Communication skills: A loan processor should have strong verbal and written communication skills to effectively communicate with loan applicants, loan officers, and underwriters.
Analytical skills: A loan processor should be able to analyze loan documentation and assess the creditworthiness of loan applicants.
Time management skills: A loan processor should be able to manage multiple tasks simultaneously and prioritize their workload to ensure that loan applications are processed promptly.
Technical proficiency: A loan processor should be familiar with computer software used for loan processing and document management.
Customer service skills: A loan processor should be able to provide excellent customer service to loan applicants and respond to their inquiries and concerns in a timely and professional manner.
Problem-solving skills: A loan processor should be able to identify and resolve issues related to loan applications and documentation.
Knowledge of regulatory requirements: A loan processor should be familiar with regulatory requirements related to loan processing and ensure that loan documentation complies with these requirements.