[Hiring] Mortgage Processor @Rate

Role Description

The Loan Partner Three (LP3) is a Loan Processor responsible for timely and high-quality loan processing from RESPA to Funding (lock-to-loan). The LP3 collaborates with the Loan Officer (LO), Branch Manager, Underwriters, Borrowers, and other key stakeholders to review and submit high-quality loan applications for underwriting. This position requires extensive knowledge of investor guidelines, strong attention to detail, expertise in analyzing cash, credit, income, and collateral, and proactive communication to minimize underwriting conditions and enhance the borrower experience. This is a salary-plus-bonus position. We invite you to apply!

Pre-Underwrite:

• Verify that the initial loan file is complete using the pre-underwrite checklist
• Request any additional documentation on cash, credit, and income for a complete loan submission
• Return incomplete/problem loans to LO with a detailed list of outstanding items (CC'ing Branch Manager)
• Initiate ALL third-party items and stay in contact with the closing company
• Submit high-quality loans for preliminary underwriting without over-analyzing

Post Underwrite:

• Analyze the Conditional Loan Approval to ensure all conditions are clear
• Confirm outstanding CLA items have NOT already been received before reaching out to external parties (avoid duplicate requests to borrowers)
• Request conditions in layman's terms that are easy for borrowers to understand
• Thoughtfully review & submit all conditions to underwriting
• Proactively communicate with LO on better submission practices
• Review ICD and CDs to ensure accuracy vs. the original Loan Estimate (LE)
• Send all Clear to Close (CTC) requests via email to the loan team as well as both agents
• Schedule with the title company and get the file into closing

Post Fund:

• Clear any post-funding conditions as required
• Support LO and borrowers with any post-funding questions
• All post-funding issues answered the same day

Qualifications

• Minimum of 3 years of underwriting or processing experience
• Proficient in DU/DO and LP
• Encompass Experience
• Strong understanding of investor guidelines
• Excellent verbal & written communication skills
• Strong time management & ability to work under pressure
• Detail-oriented with a strong sense of accountability