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Become A Mortgage Processor

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Working As A Mortgage Processor

  • Processing Information
  • Interacting With Computers
  • Communicating with Persons Outside Organization
  • Getting Information
  • Performing for or Working Directly with the Public
  • Deal with People

  • Unpleasant/Angry People

  • Mostly Sitting

  • Repetitive

  • Stressful

  • $37,710

    Average Salary

What Does A Mortgage Processor Do At Kelly Services

* _
* Ensure timely and accurate packaging of all loans originated by our loan officers.
* Gather information and take each file from pre-approval to closing.
* Input proper loan information into the system for processing.
* Responsible for ensuring that all loan documentation is complete accurate verified and complies with company policy.
* Verify loan documents including income credit appraisal and title insurance ultimately preparing application for submittal to underwriting.
* Review file documentation and make sure all items needed are requested.
* Order and coordinate loan documents.
* Meet crucial deadlines requested

What Does A Mortgage Processor Do At AAA Northeast

* Processes AAASNE Bank mortgage loan applications, reviewing each application for compliance with lending criteria; orders appraisals and titles; verifies accuracy of good faith estimate and rediscloses if necessary; reviews income and expenses calculations; processes applications through automated underwriting system ; may assist loan originators with credit assessment.
* Keeps borrower abreast of status of loan; explains attached conditions, and follows through to ensure receipt of conditions; obtains and reviews appraisal, reevaluating loan amount as necessary; identifies needs for private mortgage insurance; informs Originators of all special circumstances.
* Provides Five Diamond Service during all business transactions; builds relationships with in-house Bank staff, attorneys, appraisers, real estate agents and credit companies to facilitate efficient and accurate processing of applications.
* Generates letter of approval, detailing any additional conditions from lending institutions; ensures "prior-to-closing" conditions; ensuring rate lock deadlines are met, informs attorneys.
* Reviews weekly pipeline reports; meets weekly with Operations Staff and Mortgage Loan Originators to review status and conditions of loans, thus ensuring timely closings; may assist other Processors if warranted, based upon loan volume.
* Acquires technical knowledge of mortgage loan industry terms and conditions; remains abreast of changes in Club guidelines and industry regulations.
* Performs other job-related duties as required

What Does A Mortgage Processor Do At M & T Bank

* Maintain effective communication with all necessary parties involved in a new loan application, from the customer, broker, correspondent, loan officer, and co-workers to ensure a seamless and positive application experience.
* Work with various internal departments as well as external organizations to obtain processing related documentation or obtain necessary information needed to complete an application i.e.: Verification of Employment, IRS Transcripts, title search, appraisal, bank statements, etc.
* Immediately notifies all necessary parties of irregularities relative to standard mortgage guidelines.
* Monitor, update and analyze credit reports, appraisals, income documentation, and all verifications to ensure they adhere to product, underwriting and investor guidelines.
* Perform other administrative duties supporting the origination department including, but not limited to: preparing and mailing commitment letters, review title and homeowner’s insurance, mailing loan suspend notices, providing the closing attorney with additional documentation, and all applicable processing checklists.
* Ability to scrutinize a loan application to assess qualification, and is able to restructure a loan or recommend solutions.
* Empowered to review and accept loan conditions based on underwriter requirements.
* Ensures adherence to all regulatory requirements and guidelines.
* Strong analytical/mathematical background to evaluate changes to borrower’s current fee structure, allowable changes to those fees and the re-creation of the required regulatory documents.
* Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite.
* Identify risk-related issues needing escalation to management.
* Promote an environment that supports diversity and reflects the M&T Bank brand.
* Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
* Complete other related duties as assigned.
* NATURE AND SCOPE** :
* Work closely with both Internal and External Customers such as co-workers, borrower(s) and Loan Officers

What Does A Mortgage Processor Do At Randstad

* Identify, process, monitor, and balance wire and other payments to the Warehouse Line.
* of time: Track, monitor, balance, and resolve differences for Flagstar Funding loan purchases on the Warehouse Line of Credit.
* of time: Maintain records for and prepare entries for Participation / Syndication settlements
* of time: Prepare and distribute daily reports and activity recaps.
* of time: Monitor NSF / UCF incoming and SWMII transaction posting

What Does A Mortgage Processor Do At Navy Federal Credit Union

* Ensure accuracy of all data entered/stored in database systems
* Monitor document image quality; ensure compliance with operational and regulatory record keeping requirements
* File original mortgage documents in terminal digit order
* Review mortgage document requests

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How To Become A Mortgage Processor

A high school diploma or equivalent is typically required for most financial clerk jobs. These workers usually learn their duties through on-the-job training.

Education

Financial clerks typically need a high school diploma or equivalent to enter the occupation. Employers of brokerage clerks may prefer candidates who have taken some college courses in business or economics and, in some cases, require a 2- or 4-year college degree.

Training

Most financial clerks learn how to do their job duties through on-the-job training. Some formal technical training also may be necessary; for example, gaming cage workers may need training in specific gaming regulations and procedures.

Advancement

Financial clerks can advance to related occupations in finance. For example, a loan interviewer or clerk can become a loan officer, and a brokerage clerk can become a securities, commodities, or financial services sales agent, after obtaining the required education and license.

Important Qualities

Communication skills. Financial clerks should have good communication skills so that they can explain policies and procedures to colleagues and customers.

Math skills. The job duties of financial clerks, including calculating charges and checking credit scores, require basic math skills.

Organizational skills. Strong organizational skills are important for financial clerks because they must be able to find files quickly and efficiently.

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Mortgage Processor jobs

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Top Skills for A Mortgage Processor

LoanOfficersPropertyAppraisalsFha/VaIncomeDocumentsCreditReportsBorrowerAssetsLoanDocumentsTitleCompaniesCustomerServiceProcessLoansDesktopUnderwriterFannieMAELendersRealEstateAgentsFreddieMacMortgageLoanApplicationsMortgageProcessingDataEntryHud-1NecessaryDocuments

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Top Mortgage Processor Skills

  1. Loan Officers
  2. Property Appraisals
  3. Fha/Va
You can check out examples of real life uses of top skills on resumes here:
  • Provided support to Loan Officers and Underwriting teams by ensuring the timely and accurate processing of mortgages.
  • Ordered and reviewed credit reports, property appraisals and settlement statements to financially qualify borrowers for home retention & short sale options
  • Provided complete processing function from Sub prime lending, A Paper to Government, FHA/VA loans in a mortgage brokerage.
  • Reviewed property appraisals, income documents, closing documents, and FHA specific documents for quality assurance.
  • Request, receive, and review the credit reports, appraisals, title work, and all required supporting documentation.

Top Mortgage Processor Employers

Mortgage Processor Videos

21-Days to Better Loan Processing: Day 2

Day In The Life- Mortgage Processor- National

day in the life of a loan processor

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