Loan Processor-203k Loans
in Morris Plains, New Jersey
The Loan Processor-203k Loans is responsible for ensuring assigned 203k loan applications are processed and prepared in a timely manner and meet all regulatory requirements. The position may also process other loans as necessary.
· Processes and prepares 203k loans in a timely manner.
· Makes mandatory calls to borrowers (i.e., welcome and commitment calls).
· Pipeline manages all assigned 203k loans working within stated timelines reflected in real estate sales contracts, as well as management established turnaround timelines.
· Ensures that all 203k loans are cleared and released to the Closing Department no later than five (5) days prior to scheduled closing.
· Collects, reviews and submits acceptable documentation in a timely manner. Ensures completeness, accuracy, and legibility of all documentation.
· Monitors and/or ensures compliance with Federal and State laws and regulations, in addition to Company policies and procedures.
· Demonstrates a high level of professionalism and integrity in all internal and external interactions with employees and customers.
· Consistently communicates with borrower and GSM via email and telephone to ensure smooth loan processing and that issues are addressed/resolved in a timely manner.
· Ensures that investor requirements are met and warehouse lines are protected.
· Ensures that data integrity exists with every transaction.
· May process other loans (e.g., conventional, government, state bond, etc.), as directed by management
· Performs other duties as assigned.
· High school diploma or GED
· Associate’s or Bachelor’s degree preferredExperience
· Three (3) to five (5) years of 203k loan processing experience required
· Proven record of processing conventional, government, and state bond loans
· Previous experience with Encompass loan origination system preferredKnowledge, Skills, and Abilities
· Thorough understanding of 203k loan processing
· General understanding of all areas of the mortgage industry
· Proficiency in Microsoft Office suite of products
· Good oral and written communications skills
· Ability to multitask in a fast-paced environment
· Strong analytical and problem solving ability
· Strong attention to detail
· Strong customer service skills
· Basic math skills including addition, subtraction, multiplication, division, percentages, and fractions
· Knowledge and ability to use typical office equipment (PC, calculator, fax machine, etc.)