Senior Loan Processor
in Morris Plains, New Jersey
Weichert Financial Services is looking to hire a Senior Loan Processor to work out of our Morris Plains, NJ Corporate Headquarters. The Senior Loan Processor is responsible for ensuring a high volume of assigned loan applications are processed and prepared in a timely manner, and meet all regulatory requirements. The position may process more complex conventional, government, or state bond correspondent loans, as assigned by management. The position also troubleshoots and addresses escalated issues. In addition, the position may work independently with a Gold Services Manager (GSM) within a Weichert sales office.
Job responsibilities include, but are not limited to, the following:
- Reviews newly originated mortgage loan applications for completeness and compliance with State and Federal regulations.
- Processes and prepares a high volume of loans in a timely and accurate manner.
- Identifies and resolves escalated issues immediately, providing excellent customer service.
- May work within an assigned Weichert sales office, providing dedicated processing support to the GSM.
- Rates the quality of newly originated loan applications. Provides results to GSM, Regional Sales Manager and certain members of the Operations Management Team.
- Checks each loan package for customer e-Signature acceptance. Contacts GSM if not.
- Orders ancillary services including appraisals, flood certificates and IRS transcripts.
- Indexes loan documentation utilizing the appropriate place holders in the Encompass system.
- Submits loans that pass the Quality Loan Review process directly to the underwriting department.
- Issues Notice of Incompleteness notification to customers whose application is incomplete.
- Makes mandatory calls to borrowers (i.e., welcome and commitment calls).
- Pipeline manages all assigned loans working within stated timelines reflected in real estate sales contracts, as well as management established turnaround timelines.
- Ensures that all 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 to the Underwriter in a timely manner. Ensures completeness, accuracy, and legibility of all documentation prior to submission.
- 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.
- Promptly clears investors' exceptions.
- Ensures that data integrity exists with every transaction.
- Clears basic underwriting conditions.
- Trains and provides guidance to less experienced team members, as necessary.
- Performs other duties as assigned.
- High school diploma or GED
- Associate's or Bachelor's degree preferred
- Nationwide Mortgage Licensing System (NMLS) approved, or approved within six (6) months in the role
- A minimum of five (5) years of conventional, government and state bond correspondent loan processing experience or sales experience preferred
- Previous experience with Encompass loan origination system preferred
- Thorough understanding of loan processing
- Ability to accurately process a high volume of loans
- Solid understanding of all areas of the mortgage industry
- Solid credit policy familiarity and ability to clear basic underwriting conditions
- Must be proficient and have a full understanding of RESPA regulations and related compliance knowledge preferred
- Ability to work independently within a Weichert sales office, if necessary, showing consistent transparency
- Proficiency in Microsoft Office suite of products
- Demonstrated oral and written communications skills dealing directly with the customer
- 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.)