Experience
Up to 5 yrs
Job Location
Chennai, India
Vacancy
1
Designation
Loan Processor
Job Type
Not specified
Job Description
Mortgage Loan Processor I (US)
Job Profile Summary: The Loan Processor I provide support to the lending areas by reviewing the accuracy of consumer and mortgage loans from conditional approval to closing.
Depth & Scope:
- Reviews all required documents, such as, borrower documents, D/U & LP findings, title and HOI for submission
- Provides support to customers, branches and lending staff as needed
- Follow all regulations and policies appropriate to lending
- Documents all interactions on the loan transaction and is responsible for documenting communications with interested parties
- Owns borrower communication on loan file from conditional approval to closing.
- May order or facilitate ordering for Third -Party needs, responsible for follow up and receipt of HOI, title, 4506T, payoffs, written verifications, subordinations etc
- Validate all documents required by underwriting are present, accurately indexed and meet the stated underwriter requirements
- Ensure all data fields required by underwriting are complete
- Resolve 3rd party conditions on the loan
- Interact with vendors providing service on the loan transaction, obtain necessary documentation including Home-Owners Insurance providers, Title companies, Home-Owners Associations
- Ensure all services required for the loan transaction are ordered timely
- Document all interactions on the loan transaction
- Process the least complex loans typically Express Agency loans or Home Equity loans
- Rudimentary system, industry, and process knowledge
Education & Experience:
- High School diploma or GED required
- 0-3 years experience required
- Detail-oriented
- Ability to handle heavy workload, multitasks, and meets stringent deadlines
- Strong oral and written communication skills, with ability to interact effectively with all customers, both internal and external
- Strong PC skills
Mortgage Loan Processor II (US)
Job Profile Summary: The Loan Processor II provides support to the lending areas by reviewing the accuracy of consumer and mortgage loans from conditional approval to closing.
Depth & Scope:
- Reviews all required documents, such as, borrower documents, D/U & LP findings, title and HOI for submission
- Provides support to customers, branches and lending staff as needed
- Follow all regulations and policies appropriate to lending
- Documents all interactions on the loan transaction and is responsible for documenting communications with interested parties.
- Owns borrower communication on loan file from conditional approval to closing.
- May order or facilitate ordering for Third -Party needs, responsible for follow up and receipt of HOI, title, 4506T, payoffs, written verifications, subordinations etc
- Validate all documents required by underwriting are present, accurately indexed and meet the stated underwriter requirements
- Ensure all data fields required by underwriting are complete
- Resolve 3rd party conditions on the loan
- Interact with vendors providing service on the loan transaction, obtain necessary documentation including Home-Owners Insurance providers, Title companies, Home-Owners Associations
- Ensure all services required for the loan transaction are ordered timely
- Document all interactions on the loan transaction
- Process the least complex loans typically Express Agency loans, Condo Pud or Home Equity loans
- May assist in training the Loan Processor I
- Processes some complex loans such as CEMA, condos and co-ops
- Basic system, industry and process knowledge
Education & Experience:
- High School diploma or GED required
- 2+ years loan documentation experience
- Detail oriented
- Working knowledge of Bank loan products and policies
- Knowledge of lending software preferred
- Proven ability to handle heavy workload and meet stringent deadlines
- Solid oral and written communication skills, with ability to interact effectively with all customers, both internal and external
- Working knowledge and understanding of regulations from different states
- Strong PC skills
Mortgage Loan Processor III (US)
Job Profile Summary: The Loan Processor III provides support to the lending areas by reviewing the accuracy of mortgage and consumer loans from conditional approval to closing.
Depth & Scope:
- Provides support to customers, branches, and lending staff as needed
- May assist in training of Loan Processor I and II
- Processes more complex loans such as self-employed income, CEMA, condos and co-ops, Jumbo and Wealth
- Provides support to customers, branches and lending staff as needed
- Follow all regulations and policies appropriate to lending
- Documents all interactions on the loan transaction and is responsible for documenting communications with interested parties.
- Owns borrower communication on loan file from conditional approval to closing
- May order or facilitate ordering for Third -Party needs, responsible for follow up and receipt of HOI, title, 4506T, payoffs, written verifications, subordinations etc
- Reviews all required documents, such as, borrower documents, D/U & LP findings, title and HOI for submission
- Validate all documents required by underwriting are present, accurately indexed and meet the stated underwriter requirements
- Ensure all data fields required by underwriting are complete
- Resolve 3rd party conditions on the loan
- Interact with vendors providing service on the loan transaction, obtain necessary documentation including Home-Owners Insurance providers, Title companies, Home-Owners Associations
- Ensure all services required for the loan transaction are ordered timely
- Document all interactions on the loan transaction
- Process complex loans such as self-employed income, CEMA, condos and co-ops, Government, Right-Step, Jumbo and Wealth
- Advanced system industry and process knowledge
- May coach and mentor junior processes
- May assist junior processors in processing loans
Education & Experience:
- High school diploma or GED
- 3-5 years loan documentation experience
- Knowledge of Bank loan products and policies
- Knowledge of lending software
- Detail-oriented with ability to multitask
- Ability to handle heavy workload and meet stringent deadlines
- Excellent oral and written communication skills, with ability to interact effectively with all customers, both internal and external
- Solid knowledge and understanding of states regulations
- PC skills
- Ability to work independently
Mortgage Loan Processor IV (US)
Job Profile Summary: The Loan Processor IV provides support to the lending areas by reviewing the accuracy of mortgage and consumer loans from conditional
approval to closing.
Depth & Scope:
- Reviews all required documents, such as, borrower documents, D/U & LP findings, title and HOI for submission
- Orders and follows up on all Third -Party needs. HOI, title, 4506T, payoffs, written verifications, subordinations etc
- Processes most complex loans such as self-employed income, CEMA, condos and co-ops, Government, Right-Step, Jumbo and Wealth
- Owns borrower communication on loan file from conditional approval to closing.
- May order or facilitates for ordering responsible for follow up and receipt of HOI, title, 4506T, payoffs, written verifications, subordinations etc
- Validate all documents required by underwriting are present, accurately indexed and meet the stated underwriter requirements
- Ensure all data fields required by underwriting are complete
- Resolve 3rd party conditions on the loan
- Interact with vendors providing service on the loan transaction, obtain necessary documentation including Home-Owners
- Insurance providers, Title companies, Home-Owners Associations
- Ensure all services required for the loan transaction are ordered timely
- Document all interactions on the loan transaction
- May assist in training other Loan Processors
- Expert system, industry and process knowledge
- May coach and mento junior processors
- May assist junior processors in processing loans
- May pre-underwrite files
- May function as manager delegate in certain circumstances
- May serve as a subject matter expert for special projects
Education & Experience:
- High school diploma or GED
- 5 plus years loan documentation experience
- Demonstrated knowledge of Bank loan products and policies
- Demonstrated knowledge of lending software
- detail-oriented with the ability to multitask
- Ability to handle heavy workload and meet stringent deadlines
- Outstanding oral and written communication skills, with ability to interact effectively with all customers, both internal and external
- Solid knowledge and understanding of states regulations
- Proficient PC skills