Job Description

The Loan Processor is responsible for processing loans in a timely and qualitative manner to ensure that conditional underwriting approvals have fewer than ten (10) total conditions on average (or whatever standard the Loan Officer sets).   The Processor will work directly with the Loan Officer (LO), Operations Manager, Underwriters, and others, as needed, to review and submit high-quality loan applications to underwriting.   This position requires extensive knowledge of investor guidelines, attention to detail, and expertise in cash, credit, capacity (income), and collateral analysis. An effective Processor's knowledge and loan submission quality will minimize underwriter-requested conditions, improving the Borrower(s) experience! Responsibilities: 3 Top Job Duties w/Measurements: Pre-Underwrite • Review ALL loans within one (1) business day of receipt  • Review five (5) loans daily  Underwriting Submission • Submit ALL loans within three (3) business days and 15 calendar days to the closing date  • Three (3) underwriting submissions daily  • 95% of all initial CLAs have 10 or fewer conditions Post-Undewrite • 95% of all loans closed on time • 95% of all loans clear to close in 15 calendar days or less • Two-touch CTC (maximum)   Essential Duties of this Position: • Verify that the initial loan file is complete using the standard pre-underwrite checklist. • Request additional information regarding cash, credit, and capacity (income) to submit a complete loan for underwriting. • Return any incomplete loans to LO or LP2 with a list of outstanding items for completion in an email with the Branch Operations Manager (BOM) and Branch Manager (BM) Cc’d (if applicable). • Initiate ALL third-party items and/or direct LP3A (if applicable) accordingly. • Submit a high-quality loan for preliminary underwriting submission while not overanalyzing. • Request all items needed for CTC via email to the entire loan Team (including Opener). • Review and submit all conditions thoughtfully back to underwriting • Proactively communicate via phone or face-to-face (not in email) with the LP2 on better submission practices when needed, and use emotional intelligence to help your team members succeed.  • When needed, improve the LP2 submission checklist, alongside the BOM’s help, to improve submission practices and increase efficiency.  • Attend the weekly (Tuesday) Weekly Team Meeting (WTM) on Tuesdays to review the entire pipeline. Other: • Complete the conversation log on any crucial communication with anyone in the LOS. • On an ongoing basis, add any essential items to all checklists related to this position and recommend additions to the standard checklists in other departments to improve file quality and efficiency. • Visit and/or contact the closing, funding, post-closing, quality control, and any other relevant departments at least once a year to build rapport and train alongside each person to better understand their roles. • Understand that this position is called a Loan Partner 3 versus a traditional Loan Processor, as high-quality Borrower and/or third-party communication is required. Standard Duties of this Position: • Must have a high school diploma or equivalent. • Must have, at minimum, 3 years of underwriting or processing experience. • Must be able to work 40 hours per week, minimum. • Must be proficient in DU/DO and LP. • Must be committed to being a great leader. • Must be proficient in any major Loan Origination System (i.e., Encompass Ellie Mae, Calyx Point, etc.) • Must be proficient in Microsoft Word, Excel, PowerPoint, Outlook, and OneNote Applications. • Must have excellent verbal and communication skills. • Must have a consistently positive attitude. • Must be dependable, self-motivated, and require minimal supervision. • Must be proficient with all major investor guidelines.  • Must be detail-oriented. • Must work under pressure to meet deadlines. • Must organize, prioritize, and manage time through time-blocking.  • Must collaborate respectfully with all employees at both the Branch and Corporate levels. • Must complete regulatory and compliance training as required. Qualifications: • Mortgage lending experience and loan knowledge required, specifically with FHA, FHLB, FNMA, or VA loans • Superb analytical skills, time management skills, and attention to detail • 2 years minimum experience in loan processing required • We prefer an Associate’s degree in accounting, finance, or business - High school diploma or GED required • Excellent written and verbal communication skills are a requirement About Company: About AFN As one of the fastest-growing mortgage bankers in the United States, we opened our doors in 2001 and have since expanded with many community-based branches across the nation. Headquartered in Brea, CA, AFN built its reputation as an outstanding mortgage banking firm by serving the lending needs of real estate professionals, builders, and individual homebuyers throughout the United States. We are a Direct Lender with delegated authority to underwrite, fund, and service Fannie Mae, Freddie Mac, FHA, USDA, VA, and Jumbo loan products in-house. Our success and expansion are built on core values, including streamlined and efficient operations that optimize organizational output, as well as an approach to customer service founded on exceeding expectations.

Job Tags

Similar Jobs