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Top Mortgage Processor Skills

Below we've compiled a list of the most important skills for a mortgage processor. We ranked the top skills based on the percentage of mortgage processor resumes they appeared on. For example, 23.8% of mortgage processor resumes contained loan portfolio as a skill. Let's find out what skills a mortgage processor actually needs in order to be successful in the workplace.

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The six most common skills found on Mortgage Processor resumes in 2020. Read below to see the full list.

1. Loan Portfolio

high Demand

Here's how Loan Portfolio is used in Mortgage Processor jobs:
  • Manage and underwrite conventional first mortgages and equity loans for approval ensuring all documentation is accurate and complete.
  • Process mortgage and equity loans in accordance with applicable federal/state laws, as well as Navy Federal's policies and procedures.
  • Home equity loans I processed and prepared the closing documents and did the closings on them on a personal basis.
  • Reviewed the specialty loan portfolio for compliance with all reporting requirements on VA, FHA, Conventional and Jumbo loans.
  • Manage pipeline of Consumer Home Equity loans and Home Equity Lines of Credit, with an average of 80 loans.
  • Processed and closed conventional, sub-prime, FHA, and Home Equity loans according to lender guidelines.
  • Manage the processing, disbursement, and underwrite home equity loans in accordance with Credit Union policy.
  • Maintain turn time of 15 days for Home Equity Loans and 30 days for mortgage loans.
  • Processed FHA, Conventional, and Home Equity Loans, In and out of state.
  • Conducted loan closings for Residential properties, Home Equity loans, and Investment properties.
  • Worked closely with loan officer in assisting in mortgage and home equity loans.
  • Prepared mortgages, refinances, and home equity loans for clients.
  • Assist Underwriter with processing equity and non-equity loans.
  • Assist Home Equity department in processing home equity loans
  • Solicited equity loans to current first mortgage holders.
  • Process home equity loans to meet production standards.
  • Originated and processed home equity loans.
  • home equity loans Used correct forms i.e.
  • Type of Loans handled: Purchase / Refinance Home Equity loans Land Loans Construction loans Bridge loans Etc.

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2. Customer Service

high Demand

Customer service is the process of offering assistance to all the current and potential customers -- answering questions, fixing problems, and providing excellent service. The main goal of customer service is to build a strong relationship with the customers so that they keep coming back for more business.

Here's how Customer Service is used in Mortgage Processor jobs:
  • Extended customer service by conducting follow-ups vi email/phone and ensured they were comfortable and fully understood documentation requested by the underwriter.
  • Facilitated ongoing communication between loan officers and customers to ensure quality customer service and timely responses to customer issues and inquiries.
  • Provided customer service to borrowers including phone conversations, face to face interviews, and mortgage-process education in call center environment.
  • Developed pipeline management tools to aid in organization and effectiveness, which is crucial to providing excellent customer service.
  • Provided excellent customer service with internal and external customers at all different levels while safeguarding personal information of customers.
  • Provided customer services which included accepting payments, discussing and providing guidance on automobile policies and updating policies accordingly.
  • Provided customer service to customers by keeping all parties updated with file progress and maintained relationships internally and externally.
  • Maintained daily contact with clients while providing exceptional customer service gathering documentation to meet underwriting conditions.
  • Provided highest quality of customer service to internal and external customers and adherence to escalation procedure
  • Requested and gathered all required documentation while ensuring a high level of customer service.
  • Provide superior customer service by maintaining consistent communication with borrower and loan officer.
  • Performed basic mortgage processing activities, such as decision underwriting and customer service.
  • Provided excellent customer service, and demonstrated excellent written and verbal communication skills.
  • Processed Satisfaction documents for paid files Handled customer service calls and correspondence Sorted mail
  • Provide exceptional customer service to assist borrowers with their mortgage and refinance transactions.
  • Recognized for superior customer service driving positive corporate image and client retention.
  • Supervised and coached branch personnel, including tellers and customer service representatives.
  • Provided superb customer service by verifying client credit rating and client documentation.
  • Handled routine customer service inquiries and enters information into the company database.
  • Demonstrated excellent problem solving skills and customer service in providing home ownership

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3. Underwriting Guidelines

high Demand

Underwriting guidelines are a set of rules and requirements an insurer provides to its agents and underwriters. The underwriter then uses these instructions to judge the prospective insured, whether to accept, modify or reject it. These guidelines help the insurers set the criteria for the customer and let them know the amount of money that should be offered to the client, or whether not to offer an insurance policy in the first place.

Here's how Underwriting Guidelines is used in Mortgage Processor jobs:
  • Maintained close communication with broker prior to processing loans and while obtaining additional information during the underwriting process.
  • Analyzed information to ensure each file remained within underwriting guidelines & forwarded completed files & recommendations.
  • Maintained loan quality by adhering to procedures to meet compliance requirements and underwriting guidelines.
  • Reviewed Stipulations submitted by customers in order to determine their compliance with Underwriting Guidelines.
  • Maintained all loan documentation for accuracy and completeness with-in the underwriting guidelines.
  • Managed a pipeline closing on time while maintaining quality and underwriting guidelines.
  • Evaluated documentation, requesting additional data to facilitate underwriting process
  • Analyzed complex financial documentation for compliance with underwriting guidelines.
  • Obtained and reviewed documentation necessary to meet underwriting guidelines.
  • Trained Brokers of required documentation and new underwriting guidelines.
  • Review Appraisals and calculate income per underwriting guidelines.
  • Complied with underwriting guidelines and lending-program requirements.
  • Maintain working knowledge of underwriting guidelines.
  • Verify application data and review income, assets and other required documentation to ensure loan meets the underwriting guidelines.
  • Received applications from Mortgage Bankers to ensure all necessary forms have been completed to comply with underwriting guidelines.
  • Continued with required mortgage testing in order to stay up to date with changes to underwriting guidelines.
  • Reviewed file specifics, program underwriting guidelines, and any initial documentation provided in the file.
  • Processed and prepared loan packages for the manual underwriting process and/or the automated underwriting process.
  • Cleared any outstanding conditions per FNMA/FHLMC, FHA, VA underwriting guidelines and regulations.
  • Receive loan packet from Loan Officer process file to move forward for underwriting process.

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4. Va

high Demand

Virtual assistants are the professionals who provide assistance for businesses virtually from remote areas. These individuals are hired by online businesses to perform management and administrative tasks of the company such as marketing, bookkeeping, and many other services. with virtual assistants, businesses can exist and work virtually without any need for a physical office.

Here's how Va is used in Mortgage Processor jobs:
  • Received and reviewed Conventional and Veteran Administration (VA) loan applications for completeness via an Automated Underwriting System.
  • Process VA and Conventional mortgage loans according to product guidelines through validation of credit and collateral documentation.
  • Processed mortgage loans for conventional, FHA and VA loans using Mississippi Home Corp bond and DPA programs when required.
  • Review, Process, and Submit Conditional Approvals for Conventional, FHA, VA, USDA Refinance and Purchase Loans.
  • Reviewed and gathered credit and all other pertinent documents for mortgage loan files (FHA, VA and CONV).
  • Top Producer processing Conforming, Non-Conforming jumbo, FHA, VA purchase and refinance mortgages, specializing in new construction.
  • Mortgage products include VA, FHA, MHA, and Conventional, Preferred and Platinum Privilege Refinance and Purchase transactions.
  • Processed all Conventional, FHA and VA files, clearing conditions and issuing changes to terms of loan as needed.
  • Processed conventional, FHA, and VA loans Reviewing and analyzing customer information from 1003 to assure it is accurate.
  • Provided complete processing function from Sub prime lending, A Paper to Government, FHA/VA loans in a mortgage brokerage.
  • Process all residential loans including FHA, VA, Mass and RI Housing, Conventional, Jumbo and Portfolio loans.
  • Process conforming and non conforming loan products, including analyzing and validating data on FHA, VA and Conventional loans.
  • Performed all duties necessary to complete Conventional, FHA, and VA loans from receipt in processing through settlement.
  • Order FHA case numbers and CAIVRS approval, and VA Certificate of Eligibility, VA appraisals and Indebtedness Letter.
  • Processed FHA, VA, Construction and Residential loans in which I used Desktop, Clout/Clues for underwriting approvals.
  • Process income, asset, credit, title and appraisal documentation for the fulfillment of FHA/VA residential home mortgages.
  • Prepare clients in making decisions for Deed in lieu and short sale on Conventional, FHA and VA loans.
  • Processed highly sensitive documentation for customers to meet investor guidelines for VA, FHA, Purchase and Conventional loans.
  • Order FHA/VA case numbers, appraisals, flood certificates, title work and other needed items for processing loan.
  • Utilize extensive FHA/VA training and 203k knowledge in preparing, reviewing and verifying documents for accuracy and completeness.

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5. Appraisal Reports

high Demand

Here's how Appraisal Reports is used in Mortgage Processor jobs:
  • Analyzed credit and appraisal reports, as well as income and financial statements to determine borrower eligibility.
  • Review of documentation for underwriting and closing, to include title commitments, appraisal reports, borrower income and asset documentation.
  • Commit and disclose originated loans and prepare loans for underwriting and closing, reviewing title, credit and appraisal reports.
  • Ordered proper title, credit, pest, and appraisal reports in order to stack the file for closing.
  • Analyze asset statements, tax returns, appraisal reports, income documents, credit reports and contracts.
  • Documented and funded new loan transactions, reviewed documents and appraisal reports, submitted documents for loan approval
  • Reviewed appraisal reports in determination of loan to value and equity position.
  • Ordered credit reports, appraisal reports and title reports from appropriate vendors.
  • Ordered and evaluated Credit, Flood, Bold, and Appraisal Reports.
  • Processed Conventional loans, review credit and appraisal reports, verified employment.
  • Analyzed and review real estate appraisal reports for home mortgage loans.
  • Order and review escrow/title, fees and appraisal reports.
  • Review, analyze and upload Title and Appraisal Reports.
  • Typed comparable and print out appraisal reports.
  • Ordered flood cert and appraisal reports.
  • Review and approval of appraisal reports.

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6. Title Companies

high Demand

The companies that perform different legitimacy checks on pieces of real estate property to release insurance policies for that property are termed title companies. The title insurance provided by title companies safeguards citizens from any ownership disputes and proprietary lawsuits against the owner or the lender. Some title companies also manage escrow accounts of their clients to ensure that the insurance funds are being used for residential purposes.

Here's how Title Companies is used in Mortgage Processor jobs:
  • Reviewed closed loans for necessary paperwork* Contacted Title Companies, and communicated with Loan Officers to obtain updated documents
  • Corresponded with borrowers, account executives/managers, title companies, appraisers, attorneys & insurance agents
  • Coordinated effectively with title companies and appraisal companies on re-inspections to ensure smooth closings.
  • Opened escrow and ordered preliminary title reports.
  • Followed up with Title Companies, Attorneys, Appraisal Companies, Home Owners Insurance and the Banks until deal closure.
  • Worked with closing department and title companies to ensure the delivery of legal docs and funds when they were needed.
  • Ordered title searches (assisting title companies in clearing title conditions), appraisals, payoffs, and subordination agreements.
  • Serve as a contact person between originator, real estate agents, and title companies to ensure a timely closing.
  • Recorded legal documents and processing, worked directly with insurance and title companies, and assisted the CEO where needed.
  • Insure proper disbursement of funds upon closing, and working closing with title companies to get prompt and timely resolutions.
  • Communicate with loan officers, buyers, sellers, title companies, and agents in a timely and professional manner.
  • Work closely with Appraisal, Title companies and loan officers to ensure customer satisfaction and a smooth mortgage transaction.
  • Clear conditions and coordinate efforts with Mortgage Consultants on timing of closings, locations, title companies, etc.
  • Corresponded with loan officers/originators, title companies re: approved loans, title work, loan conditions and appraisals.
  • Act as liaison between members and title companies and coordinate with different departments to ensure prompt and accurate settlements.
  • Prepared files for post-closing and the servicing department; handled phone calls assisting attorneys, title companies and customers.
  • Worked directly with title companies, appraisers, surveyor's in ordering the correct documentation for the loan file.
  • Completed broker fee sheets and other necessary documents and submitted to title companies to insure a complete closing package.
  • Authenticated documents and information provided to complete loan packages before being sent out to title companies for closing.
  • Maintain effective and professional verbal and written communication with customers, agents, title companies, and attorneys.

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7. Credit Reports

high Demand

Credit reports are statements that carry information about your credit affairs and current credit situation like loan payment history and credit accounts status. A credit report acts as history because it contains the record from the day you opened the account till your account balance. Potential lenders and creditors make use of credit reports and decide whether to offer you credit or not and under what conditions.

Here's how Credit Reports is used in Mortgage Processor jobs:
  • Processed various monthly mortgage applications by accurately verifying and assessing credit reports for financial worthiness.
  • Processed mortgages and analyzed credit applications and credit reports for approvals for individuals seeking loans.
  • Coordinated file documentations such as ordering of appraisals, flood certifications and credit reports.
  • Analyze credit reports and associated documentation, in addition to analyzing appraisals.
  • Analyzed credit reports and used Desktop Underwriter to evaluate member/client loan applications
  • Processed new membership applications for service of consumer credit reports.
  • Performed income calculations and order credit reports.
  • Verified credit reports and customers identity.
  • Reviewed insurance documents and credit reports.
  • Obtain mortgage loan documentation, requests applicant's credit reports, appraisals, property title work and all related property information.
  • Review credit reports for accuracy, request any changes needed to the report, analyze income documents and conducts employment verification.
  • Analyzed credit reports, financial statements and pertinent information to determine a borrower's credit worthiness for the desired loan program.
  • Reviewed tax returns, financial statements, credit reports, wages, legal documents, debt ratios, and loan-to-value ratios.
  • Input 1003 into Point system in order to get loans into process, ordering credit reports, appraisal, and titles.
  • Reviewed loan related documents, including financial statements, credit reports, appraisals, title insurance, flood and tax certificates.
  • Ordered and reviewed credit reports, property appraisals and settlement statements to financially qualify borrowers for home retention & short sale options
  • Conduct in-depth analysis to suggest and summarize mortgage programs/products with clients based on their earnings, credit reports and property values.
  • Helped out with telephones, ordering and reviewing appraisals, credit reports, payoff letters, title work and hazard insurance.
  • Researched and analyzed financial data including credit reports, bank and personal financial statements, personal and business tax returns.
  • Review documentations to support file, such as Credit Reports, Income, Assets, Disclosures and additional REO's.

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8. Loan Applications

high Demand

A loan application is a form of request presented by a person to a financial institution for the approval of a loan. This application form carries detailed information regarding the petitioner's identification information, financial competence, and sources of income that indicate whether he can return the loan back or not.

Here's how Loan Applications is used in Mortgage Processor jobs:
  • Processed mortgage loan applications/contracts for other loan originators as well as originating and processing a limited amount of loans for myself.
  • Perform credit/appraisal analysis and recommend approvals or denials on all loan applications including residential and construction to permanent loans.
  • Review loan applications and documentation for acceptability against investor's guidelines for approval; clarifying and obtaining additional information.
  • Processed loan applications that included reviewing and underwriting new loans and clarifying stipulations for brokers and account representatives.
  • Administered loan applications, coordinated meetings with applicants, scheduled, acquired and evaluated real estate appraisals.
  • Prepare letters to re-verify loan applications, gift letter, verification of employment and verification of deposits.
  • Promoted within Responsible for timely processing of mortgage loan applications in compliance with bank and investor requirements.
  • Processed mortgage loan applications by reviewing applications, supporting documentation, and working with Underwriters for approval/denial.
  • Manage loan applications through closing while maintaining productivity and quality of service standards established by Management.
  • Reviewed mortgage loan applications for completeness and accuracy, adhering to regulatory and compliance standards.
  • Processed and reviewed residential mortgage loan applications for conventional loans, complying with investor guidelines.
  • Process loan applications, during temporary assignment at bank that exclusively services military clientele.
  • Ensured workload was evenly distributed with a focus on expediting high quality loan applications.
  • Process Mortgage Applications provided by borrowers, collected pertinent information to approve loan applications.
  • Submitted completed loan applications to investors for approval in a Wholesale Mortgage banking environment.
  • Review loan applications and requested documents and/or explanations from the borrowers where required.
  • Collect, review and verify documentation to prepare loan applications for underwriting decisions.
  • Communicated with accounts executives and brokers about loan status and delivered approvals.
  • Reviewed residential loan applications to verify the completeness of data and format.
  • Processed loan applications approved by underwriter or those input using Desktop Underwriter.

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9. External Customers

high Demand

Here's how External Customers is used in Mortgage Processor jobs:
  • Ensured quality service and effective, efficient operational support for the assigned area's internal business partners and/or external customers/clients.
  • Communicated and consulted on a daily basis with internal and external customers.
  • Assisted internal/external customers on an inbound call center with mortgage account information.
  • Collaborated with internal and external customers to provide timely mortgage closings.
  • Act as the main point of contact for internal partners and external customer during the entire loan process.
  • Communicated (via inbound/outbound calls and email) information to internal and external customers.
  • Maintain strong working relationships with third party vendors, internal and external customers.
  • Assisted internal and external customers, regarding their mortgage loan.
  • Respond to internal and external customers inquires.
  • Communicated with internal and external customers to ensure all files were delivered in a timely manner without exception.
  • Provide technical and analytical support to the Underwriting Department, and internal and external customers of the corporation.

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10. Usda

high Demand

The United States Department of Agriculture (USDA) is a branch of the United States government that is responsible for the oversight of farming and agriculture in the country. They also provide home loans for development in rural areas to low/no income families and first-time homebuyers.

Here's how Usda is used in Mortgage Processor jobs:
  • Worked due diligence and processed loans per FHLMC guidelines on conventional, USDA, FHA/VA and CHFA/DAP loans.
  • Worked with loans such as Fannie Mae & Freddie Mac Guidelines, FHA, VA, USDA Rural Development Loans.
  • Utilized PCLender to manage a pipeline of 25-30 active State Bond Loan and USDA Home Mortgage Files.
  • Prepared and processed mortgage loans from approval to closing for FHA, USDA, VA and Conventional loans using DataTrac/DocuTrac software.
  • Branch) Processed Conventional, FHA, VA and USDA loans adhering to company and loan programguidelines.
  • Work Experience: Adino, Inc./ USDA, Rural Development 4300 Goodfellow Blvd/St.

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11. Financial Statements

high Demand

A financial statement is a report of an individual or a company that includes all the information about the declared assets, the use of money, income, and also the contribution of shareholders over a certain period.

Here's how Financial Statements is used in Mortgage Processor jobs:
  • Analyzed financial statements, property appraisals, tax returns and credit documentation for accuracy and compliance to investor/lender guidelines.
  • Reviewed and analyzed financial statements, debt-to-income and housing ratios to ensure documentation met Fannie Mae product guidelines.
  • Collaborated with underwriters to minimize errors and analyze complete financial statements for complex clients with multiple income streams.
  • Collected and examined customer's financial statements and documents to assist in identifying unusual transaction patterns.
  • Verified financial statements, tax returns, and income/employment documents.
  • Examined and provided clients financing options by evaluating their credit profile, tax returns and financial statements.
  • Created and maintained financial statements for members and businesses with over $1,000,000 in loans and deposits.
  • Analyzed financial statements, tax returns, P&L statements, and perform cash flow analysis.
  • Input budget, income, financial statements & replacement reserve information to FLA.
  • Reviewed files for compliance, analyze and summarized applicant's financial statements.
  • Gathered and reviewed various types of financial statements and tax returns

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12. Necessary Documents

high Demand

Here's how Necessary Documents is used in Mortgage Processor jobs:
  • Validated all necessary documents including rate lock and point objectives for accuracy before submitting files to the underwriting department for review.
  • Handled initial loan application paperwork and ensured all necessary documentation was included, and accurate, prior to submission to underwriting.
  • Conducted daily review and follow-up with customers and vendors regarding outstanding items; gathered necessary documentation as needed.
  • Analyzed supporting documentation and assisted processing department in verifying the accuracy and completeness of all necessary documentation.
  • Requested and reviewed all necessary documentation to satisfy outstanding conditions prior to submission for final loan approval.
  • Interacted with customers to successfully advance their refinance applications by verifying sensitive data and collecting necessary documentation.
  • Assisted customers with necessary documentation and expedited their request for loan modification and short sales request.
  • Contacted clients for any necessary documents and reviewed them for accuracy.
  • Guided customer understanding of mortgage guidelines while soliciting necessary documentation.
  • Work with various external organizations to obtain necessary documentation e.g.
  • Obtain necessary documentation from Borrower's to clear underwriting conditions.
  • Collected necessary documents from applicants to complete mortgage loans.
  • Prepared loans for approval by collecting necessary documents.
  • Verified all necessary documentation to meet underwriting requirements.
  • Reviewed applications, collect necessary documents verified information.
  • Obtained all necessary documentation for final loan approval.
  • Gathered all necessary documentation and cleared conditions.
  • Coordinated procurement of necessary documentation for underwriting.
  • Collected necessary documents to clear conditions.
  • Obtain legal and banking records to provide underwriter with necessary documents to clear conditions and ready transactions for loan closing.

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13. Underwriting Approval

high Demand

Here's how Underwriting Approval is used in Mortgage Processor jobs:
  • Managed underwriter conditions; collected and submitted to for underwriting approval, posted electronic decision letters.
  • Review and approved required documentation supplied by borrower and loan officer to meet underwriting approval.
  • Reviewed all documentation, updated underwriting approval; submitted loan to underwriter for final review.
  • Evaluated data collected and presented the requirements needed on order to obtain underwriting approval.
  • Gathered and analyzed all documentation provided by borrower and cleared stipulations for underwriting approval.
  • Performed the initial credit decision and final underwriting approval on Conventional loans.
  • Reviewed & collected underwriter's conditions and submit conditions for underwriting approval.
  • Researched, reviewed, validated loan documents for underwriting approval.
  • Evaluated data collected and presented requirements for underwriting approval.
  • Reviewed loan file conditions based on underwriting approval.
  • Verified information as per automated underwriting approval.
  • Cleared all underwriting approval conditions for closing.
  • Processed mortgage applications for underwriting approval.
  • Submitted completed loan for underwriting approval to in-house underwriting or in underwriting with as little prior to closing conditions as possible.
  • Submitted mortgage loan application file for underwriting approval and submits approved mortgage loan file to Mortgage Loan Closer for funding.
  • Generated automated underwriting approvals from Countrywide, Chase, Indy Mac and Home Comings wholesale engines.
  • Generated automated underwriting approvals from DU/LP (Fannie Mae and Freddie Mac engines).
  • Submitted mortgage loan files for underwriting approval, or denial or offered alternative suggestions.
  • Submitted loan packages for Investor underwriting approval and locked rates.
  • Analyze income, credit and assets to obtain Underwriting approval.

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14. Tax Returns

high Demand

Here's how Tax Returns is used in Mortgage Processor jobs:
  • Review 75% tax returns, social security retirement and disability rewards statements to determine qualifying income according to corporate policy.
  • Reviewed and verified information on title reports, income documentation, tax returns and other borrower information.
  • Analyze credit, income, bank statements, and tax returns to determine eligibility of loan applicants.
  • Processed all incoming loan files, including ordering of credit report reviewed tax returns of self employed/commissioned.
  • Review pay stubs, tax returns and retirement funds for accuracy, time length and continuance.
  • Read, analyze, and calculate self-employment income from tax returns including 1120's, 1065's
  • Analyzed tax returns and income statements for completeness and adherence to complex guidelines.
  • Gathered needed documentation such as tax returns, bank statements, etc.
  • Gather and request pay stubs, tax returns, bank statements etc.
  • Request mortgage payoffs, credit supplements, W-2s and tax returns.
  • Analyzed tax return verification if tax returns were used to qualify.
  • Review tax returns of self-employed borrowers and loans receiving rental income.
  • Calculate income using pay stubs, W-2s and tax returns.
  • Self-employed borrower(s) review 2 years Tax Returns.
  • Calculated Debt Ratio and Income Verification and Tax Returns.
  • Analyzed Individual, Partnership and S Corp Tax returns.
  • Reviewed tax returns for self employed borrowers.
  • Perfect documents and calculate income from tax returns and financial statements to determine loan eligibility.
  • Ordered tax returns and social security verifications from Rapid Reporting.
  • Gathered documents for loan modification process which included credit report updates, appraisals, income tax returns and asset verifications.

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15. Company Policies

average Demand

Rules and regulation set by a company that reflect the company's code of conduct are called company policies. These rules apply to people anywhere in the company. The policies may apply inside and outside of the workplace. Company policies are mentioned in an organization's handbook.

Here's how Company Policies is used in Mortgage Processor jobs:
  • Ensured compliance with company policies, underwriting
  • Interpret loan policies while analyzing applicant, property, and associated documentation to ensure full compliance with company policies and procedures.
  • Performed variety of duties on complex loan packages to ensure compliance with Company policies and procedures for mortgage loan products.
  • Confirmed that all documentation complied with our company policies Verified income, credit, appraisals and title insurance.
  • Follow company policies and Fannie and Freddie guidelines to process and complete customer loan information.
  • Audit various functions handled throughout the office for compliance with company policies.
  • Adhered tightly to federal and company policies, procedures, and regulations.
  • Process loans in accordance with the company policies and procedures.

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16. Final Approval

average Demand

Here's how Final Approval is used in Mortgage Processor jobs:
  • Worked closely with the brokers/correspondents and underwriters to help obtain proper documentation and followed up concerning conditions needed for final approval.
  • Analyzed borrower income documentation, credit profile, asset documentation and appraisals; prepared documentation to go to Underwriting for final approval
  • Determined documentation required to complete loan packages for submission to underwriter for final approval.
  • Updated systems once conditions received and re-submitted to underwriting for final approval.
  • Submitted fully processed files to Underwriting Department for final approval.
  • Review system for accuracy and ensure that all items that are needed for final approval have been collected, system updated.
  • Review all documents sent in from 3rd parties, work loan to be submitted to underwriters for review and final approval.
  • Worked to gather all conditions on loan file to give to underwriter for final approval, then moved file to closing.
  • Administered loan process to include submitting paperwork to underwriting for review, ensuring receipt of appraisal, and documenting final approval.
  • Work with loan officer and customer to obtain any required conditions and resubmit back to investor for final approval.
  • Satisfied all conditions for final approval, customer contact via phone, letter or email.
  • Submit loan file initial/final approval for underwriting and closing department in a time matter.
  • Monitor computer system for current status of all documents required for final approval.
  • Prepare loan for closing after final approval has been issued by underwriting.
  • Requested appraisal and title before submitting loan to lender for final approval.
  • Review all closing documents and HUD settlement statements for final approval.
  • Structured and processed loan application for final approval and funding.
  • Issue final approvals and cleared loans for closing Results:.
  • Worked with the Underwriting and Closing Departments for final approval.
  • Receipt of file from Loan Officer through Final Approval Review.

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Online Courses For Mortgage Processors

One of the best ways to acquire the skills needed to be a mortgage processor is to take an online course. We've identified some online courses from Udemy and Coursera that will help you advance in your career. Since mortgage processors benefit from having skills like loan portfolio, customer service, and underwriting guidelines, we found courses that will help you improve these skills.

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Become a Mortgage Loan Processor
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Finibi Mortgage CEO, Joe Correa, teaches you how to become a mortgage loan processor...

Advanced Mortgage Loan Processor: Essential Skills Training
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Finibi Mortgage CEO, Joe Correa, teaches you how to take your mortgage loan processor career to the next level...

U.S. Residential Mortgage Business
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A comprehensive US mortgage analysis. Covering all aspects of the residential mortgage industry in the US...

Real Estate Law
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Learn the basics of real estate law, including investing, title searching, and mortgages...

Real Estate Investing
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Build and protect your wealth by investing in real estate...

FPGA Softcore Processors and IP Acquisition
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This course will introduce you to all aspects of development of Soft Processors and Intellectual Property (IP) in FPGA design. You will learn the extent of Soft Processor types and capabilities, how to make your own Soft Processor in and FPGA, including how to design the hardware and the software for a Soft Processor. You will learn how to add IP blocks and custom instructions to your Soft Processor. After the Soft Processor is made, you learn how to verify the design using simulation and an int...

Real Estate Math Made Easy: Pass Your Licensing Exam
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Get Over Your Math Anxiety to Pass Your Real Estate Licensing Exam and Build A Successful Real Estate Career!...

The Real Estate Syndication Process
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How To Raise Money to Invest Profitably Commercial Real Estate Properties...

The Advanced Real Estate Financial Modeling Bootcamp
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The Complete Guide To Advanced Real Estate Financial Modeling For Real Estate Investment Professionals...

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Learn comprehensive financial modeling, forecasting and business valuation techniques for Finance professionals...

The Real Estate Financial Modeling Bootcamp
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The Complete A to Z Guide to Modeling Real Estate Transactions in Microsoft Excel For Smarter Real Estate Investing...

Understanding Financial Statements: Company Position
coursera

This course is designed to provide a basic understanding of financial statements with an emphasis on the balance sheet. However, to understand accounting driven financial statements, it is important to recognize that accounting is less about counting and more about measuring. "What is it that is being measured?" Well, as the course unfolds, you will learn about the three measurement questions and how the balance sheet helps to answer the first two of these questions. By touring a real company an...

Brief Intro to Commercial Real Estate
udemy
4.5
(1,073)

Learn the essential fundamentals of commercial real estate...

Understanding Financial Statements: Company Performance
coursera

This course is designed to provide a basic understanding of financial statements with an emphasis on the income statement. Building on the foundation formed in the first course, you will learn about the third of our three measurement questions and how the income statement helps to answer this final measurement question. Returning to the real business people introduced in the first course, this second course describes the basic content of income statement in a simple yet relevant context. The cou...

Real Estate Asset Management 101
udemy
4.6
(967)

Real Estate Asset Management Training From Acquisition, To Ownership, Through Sale For Profitable Real Estate Investing...

The Real Estate Financial Modeling Interview Exam Guide
udemy
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How To Ace Your Real Estate Financial Modeling Interview Exam For Real Estate Investing Careers...

Audit - Financial Statement
udemy
4.4
(956)

Learn the audit process from planning to audit report form a Certified Public Accountant (CPA)...

How to Read Financial Statements: Build Financial Literacy.
udemy
4.4
(364)

Read financial statements and speak the language of business without the drudgery of a traditional accounting course...

20 Most Common Skill For A Mortgage Processor

Loan Portfolio23.8%
Customer Service18.3%
Underwriting Guidelines7.3%
Va4.6%
Appraisal Reports4.1%
Title Companies3.8%
Credit Reports3.1%
Loan Applications3%

Typical Skill-Sets Required For A Mortgage Processor

RankascdescSkillascdescPercentage of ResumesPercentageascdesc
1
1
Loan Portfolio
Loan Portfolio
23.8%
23.8%
2
2
Customer Service
Customer Service
18.3%
18.3%
3
3
Underwriting Guidelines
Underwriting Guidelines
7.3%
7.3%
4
4
Va
Va
4.6%
4.6%
5
5
Appraisal Reports
Appraisal Reports
4.1%
4.1%
6
6
Title Companies
Title Companies
3.8%
3.8%
7
7
Credit Reports
Credit Reports
3.1%
3.1%
8
8
Loan Applications
Loan Applications
3%
3%
9
9
External Customers
External Customers
2.7%
2.7%
10
10
Usda
Usda
2.4%
2.4%
11
11
Financial Statements
Financial Statements
2.1%
2.1%
12
12
Necessary Documents
Necessary Documents
1.6%
1.6%
13
13
Underwriting Approval
Underwriting Approval
1.6%
1.6%
14
14
Tax Returns
Tax Returns
1.4%
1.4%
15
15
Company Policies
Company Policies
1.4%
1.4%
16
16
Final Approval
Final Approval
1.4%
1.4%
17
17
Trid
Trid
1.3%
1.3%
18
18
Investor Guidelines
Investor Guidelines
1.3%
1.3%
19
19
Federal Regulations
Federal Regulations
1.3%
1.3%
20
20
Fnma
Fnma
1.1%
1.1%
21
21
Fannie MAE
Fannie MAE
1%
1%
22
22
Respa
Respa
1%
1%
23
23
Du/LP
Du/LP
0.8%
0.8%
24
24
Application Data
Application Data
0.8%
0.8%
25
25
Fhlmc
Fhlmc
0.6%
0.6%
26
26
File Documentation
File Documentation
0.6%
0.6%
27
27
Ensure Accuracy
Ensure Accuracy
0.6%
0.6%
28
28
Real Estate
Real Estate
0.6%
0.6%
29
29
Tax Transcripts
Tax Transcripts
0.6%
0.6%
30
30
Freddie Mac
Freddie Mac
0.5%
0.5%
31
31
Flood Certifications
Flood Certifications
0.5%
0.5%
32
32
Additional Documentation
Additional Documentation
0.5%
0.5%
33
33
Insurance Companies
Insurance Companies
0.5%
0.5%
34
34
Legal Documents
Legal Documents
0.4%
0.4%
35
35
Anti-Money Laundering
Anti-Money Laundering
0.4%
0.4%
36
36
VOE
VOE
0.4%
0.4%
37
37
Hmda
Hmda
0.4%
0.4%
38
38
Hud-1
Hud-1
0.4%
0.4%
39
39
Commitment Letters
Commitment Letters
0.4%
0.4%
40
40
Credit Supplements
Credit Supplements
0.3%
0.3%
41
41
AUS
AUS
0.2%
0.2%
42
42
Accurate Processing
Accurate Processing
0.2%
0.2%
43
43
Settlement Statements
Settlement Statements
0.2%
0.2%
44
44
Calyx
Calyx
0.2%
0.2%
45
45
Application Information
Application Information
0.1%
0.1%
46
46
Proper Loan Information
Proper Loan Information
0.1%
0.1%
47
47
Employment Histories
Employment Histories
0%
0%

8,352 Mortgage Processor Jobs

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