Careers

Sr. Mortgage Loan Processor

POSITION SUMMARY

The Senior Mortgage Loan Processor will be responsible for reviewing and reconciling loan files to guidelines, overlays, and industry standards resulting in a credit decision. The Senior Mortgage Loan Processor will condition the file for those items requested to complete a salable loan and will clear those conditions as they are requested by Underwriters.

Senior Mortgage Loan Processor may also participate in mentoring junior staff members.

The position is a full-time, salaried plus incentive per funded & sold file. 

DUTIES AND RESPONSIBILITIES

Processing, Funding, and Selling Loans:

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Specific responsibilities include but are not limited to the following:

•    Receive client applications from loan officers and update them with validated information

•    Order title, appraisal, and flood certifications and review for discrepancies and Quality Control

•    Prior to submission to investors or lenders, conduct full fraud prevention practices accompanied by valid documentation.

•    Review prospective loan files for completeness and identify missing information.

•    Calculate income and determine the client’s qualifications for the loan.

•    Analyze individuals/businesses for accuracy to match the income in the LOS system.

•    Order payoffs and lien releases, tax transcripts and W2 verifications, and subordination requests.

•    Review title commitment, and appraisals for any inconsistencies and issues.

•    Obtain verification of homeowner/flood insurance.

•    Issued loan approval, suspense, or declination letter.

•    Submit files for final underwriting approval with clarity of Prior to Purchase conditions.

•    Ensure that documentation and disclosing are all compliant with TRID and State specifics (such as intention to precede, LEs, CDs, IL/CA anti-predatory lending database, etc.).

•    Clear conditions on files approved by an underwriter.

•    Communicate underwriting decisions to sales managers.

Quality Control & Assurance, Regulatory Compliance Guidelines, and Processes 

Ensure processes, guidance materials on ongoing statutory and regulatory compliance, and their further implementation

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•    Learning and applying updated loan processing guidelines

•    Regularly review updating policies and procedures based on new regulations and changes within the              process and regulations

Tracking, reporting, and analyzing clients’ and business partners' complaints. Review documentation to determine the cause of issues.

Investor Management Program:

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•    Reviewing investors' policies/procedures/training relating to internal controls, security systems,                        development, and maintenance.  Ensuring that the investors meet the ORM’s minimum guidelines,                    compliance, and contract requirements

•    Monitoring the application of compliance with State and Federal laws, as well as regulations and                      guidelines

•    Apply system update procedures to ensure appropriate change controls are in effect and validating                authorization is established for significant system changes

•    Reviewing the third-party relationships problem, management, and activities and working to ensure that                  problems are resolved in a timely manner

Team Building

• Be a member of a highly collaborative team adding value through greater productivity, higher morale, less counter-productive conflict, and better customer relations.

• Make sure to stick to deadlines, and complete any tasks are assigned

• Semi-annual and annual performance reviews

• Goal Setting, Professional Growth, and Development Plan

• Keep individual touch-base meetings

Business Competency

• Continuous improvement, learning today, to be a champion tomorrow.

• Networking. Connect with professionals within the industry, and learn new practices, products, technology, and ideas to apply to the company's success

• Business is about the bottom line, and to keep profit margins healthy ORM is focusing on finding ways to move to higher-value services or products

• Communication. Confirm that the individual received and understood the message.  Validate and ensure that there are no misunderstandings afterward.

PROFESSIONAL DEVELOPMENT

• Minimum 10(ten) or more years of relevant experience in a rapidly-changing business environment. 

• Minimum 6 (six) years of team management experience in business, and/or expertise in related functions.

ORGANIZATIONAL ALIGNMENT

• Reports to the President of ORM.

• Work in close collaboration with the Sales Team and QC
   

​QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed are representative of the knowledge, skill, and/or ability required.

• Proven research and analytical skills to identify, collect and organize information to provide an educated recommendation.

• Strong organizational and interpersonal skills.

• Time management skills.

• Strong problem-solving and customer service skills.

• Excellent attention to detail.

• Ability to handle multiple tasks and be flexible to changing priorities on a daily basis.

• Strong written and verbal communication skills, as well as phone skills, are required.

• Ability to work effectively in a fast-paced, highly regulated, and deadline-driven environment.

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