Loan doc specialist vs loan processor

Differences between loan doc specialist and loan processor duties and responsibilities

Loan doc specialist example responsibilities.

• Manage a pipeline of FHA and conforming conventional mortgage loans for refinance and purchase through closing.
• Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
• Pull LDP/GSA list, FHA CAIVR numbers, VA certificate of eligibility, VA case numbers and VA appraisals.
• Schedule loan closing and review final HUD-1 to verify fees are appropriate and within guidelines.
• Review final HUD-1, payment plan, calculations and closing documents for accuracy, prepare package for funding to review.
• Make sound business decisions base on credit risk policy and procedures in accordance with TILA, ECOA, and RESPA guidelines.
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Loan processor example responsibilities.

• Manage a monthly pipeline averaging 100 files from origination to funding per month as a Jr. processor.
• Review and verify documentation consistent with company policies and compliance of FNMA, FHLMC, FHA/VA, USDA guidelines.
• Gather all documentation necessary to process mortgage loans in accordance with FNMA and credit union guidelines/requirements.
• Disclose and re-disclose the LE's and Prelim TRID require CD.
• Upload monthly reports to FHLMC including principal & interest reports, delinquent loans and appraisals.
• Ensure conditions on USDA commitments are met and loan files are prepared for closing on time.
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