Position Overview:
We are seeking an experienced and highly detail-oriented Loan Processor to manage mortgage loan files throughout the processing stage and ensure they are complete, accurate, and ready for underwriting and closing.
The ideal candidate has hands-on mortgage loan processing experience and understands how to review borrower documentation, order third-party services, manage underwriting conditions, and move loan files toward Clear-to-Close (CTC).
Loan File Review & Financial Verification:
Review borrower documentation including pay stubs, W-2s, 1099s, tax returns, and bank statements.
Pull and review credit reports for discrepancies, late payments, collections, and public records.
Request Letters of Explanation (LOEs) when required.
Verify borrower income, assets, and other financial documentation.
Calculate preliminary DTI and LTV ratios.
Identify missing documents, inconsistencies, and potential underwriting issues.
Third-Party Orders:
Order and track real estate appraisals through AMCs.
Order title commitments, title searches, tax certificates, and lien searches.
Review title commitments for liens, encumbrances, or potential issues.
Order and track VOE, VOD, VOM/VOR, flood certifications, and homeowner's insurance.
Follow up with third-party vendors to ensure timely completion.
Underwriting & Conditions:
Prepare loan files for underwriting submission.
Review conditional approval requirements.
Track and collect outstanding underwriting conditions.
Communicate with borrowers and relevant parties regarding required documentation.
Prepare complete condition packages for underwriting review.
Follow up until the loan reaches Clear-to-Close (CTC).
Monday.com & Pipeline Management:
Maintain accurate loan file information in Monday.com.
Track key milestones such as appraisal, title, underwriting submission, conditional approval, CTC, and closing.
Update file statuses, deadlines, tasks, and notes daily.
Ensure all outstanding requirements are clearly documented and followed up on.
Communication:
Communicate with borrowers, lenders, title companies, appraisers, real estate agents, and other parties.
Handle day-to-day communication through WhatsApp and email.
Prepare clear and professional email correspondence.
Provide timely updates and follow-ups regarding loan file status.
Requirements:
Hands-on mortgage loan processing experience is strongly preferred.
Experience processing residential mortgage loans from setup through closing.
Knowledge of credit reports, income/asset documentation, appraisals, title, and underwriting conditions.
Experience ordering and tracking third-party services.
Familiarity with Monday.com or similar CRM/project management systems.
Strong written and spoken English.
Excellent attention to detail and document review skills.
Strong follow-up and time-management skills.
Ability to manage multiple loan files simultaneously.
Proactive problem-solving skills.
Ability to work independently in a remote environment.
Must be available during US business hours.
Ideal Candidate:
The ideal candidate is an experienced mortgage loan processor who understands the importance of accuracy, deadlines, and consistent follow-up.
You should be comfortable managing multiple loan files, identifying potential issues early, coordinating with multiple parties, and ensuring files are properly prepared for underwriting and closing.
Strong mortgage processing experience is highly preferred for this position.