Mortgage Processor Job Description Template
A Mortgage Processor is responsible for the accurate and timely processing of mortgage loan applications. This position requires a high level of attention to detail, as well as strong customer service skills. The Mortgage Processor will work closely with Loan Officers, Underwriters, and Closers to ensure that all mortgage loans are processed efficiently and in compliance with company guidelines. Responsibilities: • Collect and review all required documentation for mortgage loan applications • Verify accuracy of loan application information and documentation • Communicate with customers, Loan Officers, Underwriters, and Closers throughout the loan process • Ensure that all mortgage loans are processed in a timely and efficient manner • Maintain knowledge of company guidelines and updates
Mortgage Processor Job Responsibilities
- Review loan applications and supporting documentation
- Verify accuracy and completeness of loan application information
- Obtain missing or additional information needed to complete the loan application
- Calculate income, assets, and debts for loan applicants
- Prepare loan documents for underwriting review
- Forward loan files to underwriting department for approval
- Communicate with applicants, real estate agents, and lenders throughout the loan process
- Keep updated on changes in lending guidelines and regulations
Objectives
- To develop an efficient system for processing mortgage loan applications and to ensure that all documentation is complete and accurate.
- To work closely with loan officers, underwriters, and closing departments to ensure a smooth loan process.
- To review mortgage loan applications for completeness and accuracy of information provided.
- To order credit reports, appraisals, and other necessary documentation required for processing the loan application.
- To verify employment history, income, and asset information provided by the borrower(s).
- To calculate income and debts in order to determine eligibility for the mortgage loan program applied for.
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Mortgage Processor Job Skills & Qualifications Needed
- High school diploma or equivalent
- Some college coursework in business, finance, or accounting preferred
- 1+ years of experience processing mortgage loans preferred
- Proficient in Microsoft Office applications such as Word and Excel
- Strong analytical and problem solving skills
- Excellent written and verbal communication skills