The loan processor is responsible for preparing and processing mortgage loan files from application through approval. This involves obtaining all necessary documentation as well as ensuring compliance with the bank, regulatory and investor guidelines as well as client service standards. Acts as a liaison between the Mortgage Consultants, the borrower(s) and various departments throughout the company. The loan processor:
- Prepares loan files for submission to underwriting.
- Is responsible for maintaining constant and effective communication with borrower(s) throughout the loan process.
- Reviews and verifies each file to ensure that all information is correct and current.
- Orders credit reports, title commitments, surveys and appraisals from the appropriate parties and reviews them for acceptability prior to submitting for approval.
- Is responsible for assisting the post-closing and/or quality control department in obtaining any missing documentation needed in order to render a loan saleable into the secondary market.
- Reviews the pipeline reports daily to ensure accuracy of closing dates, program changes, loan amount changes and current status.
- Sends complete loan packages to appropriate underwriter for final approval and validation.
- Responsible for adherence with all federal, state, and agency compliance standards as defined by CCHL's Compliance Department.