Senior Loan Processor Job Description
Senior loan processor
provides support to mortgage operations personnel and distributes loan files to related departments within the Credit Union.
Senior Loan Processor Duties & Responsibilities
To write an effective senior loan processor job description, begin by listing detailed duties, responsibilities and expectations. We have included senior loan processor job description templates that you can modify and use.
Sample responsibilities for this position include:
Understands how to evaluate and verify income, tax returns and assets provided in loan applications, including understanding the various components of income, tax returns and assets, accurately using tax returns for processing applications, income, tax returns and assets and accurately using tax returns for calculations during processing income, tax returns and assets
Perform income calculations for borrowers based off of income docs received, paystubs, W-2’s, tax returns and VOE’s
Calculate income, review bank statements, verifies member credit, employment and reserves
Review all data on the URLA 1003 application and process Credit Package, Income, Asset, Title and purchase contract documentation to verify accuracy
Request conditions requested by the underwriter to the borrower and to Sales
Reviews and inputs incoming documents
Ability to troubleshoot LAN / WAN technologies including
Knowledge of Check Point/ASA Firewalls, & Cisco Voice technologies
Knowledge of packet capture and analysis utilizing Netscout and Wireshark
Knowledge of logical cisco configuration tools (Cisco NCS, ANM, CSM)
Senior Loan Processor Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Senior Loan Processor
List any licenses or certifications required by the position: UCC, FHA, DE
Education for Senior Loan Processor
Typically a job would require a certain level of education.
Employers hiring for the senior loan processor job most commonly would prefer for their future employee to have a relevant degree such as High School and Collage Degree in General Education, Education, Business, Technical, Finance, Spectrum, Accounting, Law, Real Estate, Communication
Skills for Senior Loan Processor
Desired skills for senior loan processor include:
Guidelines and loan programs
Industry
APR
Analyzing credit
Asset documents
GFE
Income
Interest rates and disclosure/re-disclosure time lines
Laws governing access to public and private records
Mortgage process
Desired experience for senior loan processor includes:
Ability to troubleshoot hardware and software issues on Linux, UNIX, and Windows platforms
Identify, isolate, resolve, and escalate event messages from HNB monitoring (SNMP) platform
Financial diagnosis
Ensure that all business efforts are in accordance with stated HCC and HSB policies, procedures, appropriate regulations, and investor guidelines
Post underwriting, review the loan approval and fully understand the requirements for loan documentation and closing
Prepare escrow, title and recording instructions, closing checklists, request letters and instructions, reserve worksheets and determine amounts of monthly tax and insurance reserves and establish reserve accounts
Senior Loan Processor Examples
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Senior Loan Processor Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of senior loan processor. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for senior loan processor
- Pre-underwrite' loan files, assuming what conditions may be needed prior to the file being underwritten by the underwriter
- Establishes accurate closing date and monitors promised closing dates to meet those established
- Rates the quality of newly originated loan applications
- Checks each loan package for customer e-Signature acceptance
- Collects, reviews and submits acceptable documentation to the Underwriter in a timely manner
- Perform related duties of inspecting documents and completing daily reports
- Coordinate the borrowers closing appointment by providing loan documents to the closing agent facilitating changes to final required documents for wire disbursement
- Submit complete files to underwriting queue within turn times indicated
- Gather and process underwriting conditions to submit for CTC (Clear To Close)
- Responsible for ordering the following 3rd party verifications/documentation
Qualifications for senior loan processor
- Minimum 5-7 years’ experience processing, documenting and closing permanent commercial real estate loans
- Bachelor's Degree or the equivalent experience of 1 to 3 years of experience working in a bank or other financial institution
- Possess an understanding of TM products and services including payments and depository systems
- Demonstrates exemplary communications skills, verbal and written
- Exceptional organizational skills with the ability to work on numerous tasks simultaneously
- Minimum of 3-5 years’ experience in mortgage loan processing
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Senior Loan Processor Job Description
Job Description Example
Our innovative and growing company is looking for a senior loan processor. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for senior loan processor
- Analyze Consumer and Commercial system data
- QC of our Keeper Versus Non Keeper docs
- Help monitor and manage group SLA and compliance
- Assist with reporting daily manual processes for management
- Properly processes customer applications from application to closing, including gathering required documentation, evaluating application viability and processing loans within the Bank's guidelines
- Properly reviews and verifies documentation received from customers in accordance with policies and procedures
- Provides assistance to the consumer Loan Officers and staff when necessary
- Properly follows up on underwriting decisions and necessary items to close the application including denials and restructuring, including obtaining necessary items and documentation for underwriting in a timely fashion, effectively restructuring loans to meet underwriting requirements and closing applications within standard time frames
- Accurately calculates various ratios/amounts for processing loan applications, including understanding the various types of calculations required for loan processing, understanding where to obtain data for calculations and accurately performing calculations
- Understands how to use and read appraisals and liens in the processing of loan applications, including understanding the purpose and various types of appraisals and liens and accurately useing appraisal reports and liens to process loans
Qualifications for senior loan processor
- Proficient use of standard office equipment and computer software, applications, and systems
- Ability to coordinate with originator, underwriter, appraiser, customer
- Knowledge of guidelines for qualification for secondary market mortgages
- Minimum 5 years of Retail mortgage processing of full doc loans
- Encompass experience preferred but not required
- Advanced knowledge of mortgage lending guidelines and regulations (RESPA, Reg B, HMDA,FHA, VA Conventional, FHLMC, FNMA, Bond, Native American, Rural Development and others as offered)
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Senior Loan Processor Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of senior loan processor. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for senior loan processor
- Understands and is committed to managing and resolving conflict that interferes with growth, quality performance and results by identifying the correct source of conflict and options for its resolution
- Responds to phone inquiries regarding all consumer loans in process from branches and borrowers
- Retrieves online equity loan applications from Loan Quoter, Loan by Phone and accepts new loan applications from the mail when necessary
- Inputs and updates loan data into the Loan Originations System when necessary
- Uses existing expertise to assist others in developing or enhancing specific knowledge, skills and application for a given competency
- Assist team member other areas of division & bank with projects assignments as needed
- Prepares reconcilements on various types of General Ledger accounts
- Provides Accounting and General Ledger support to Loan Ops and the Accounting Department
- Creates General Ledger entries in order to balance, clear outages, and reclass items between accounts
- Researches out of balances and works with different areas of the bank to clear reconciling items
Qualifications for senior loan processor
- Ability to organize multiple activities which require close attention to detail
- Ability to safely and successfully perform the essential job functions consistent with or without the ADA, FMLA and other federal, state and local standards, including meeting qualitative and/or quantitative productivity standards
- Basic personal computer skills including electronic mail, word processing, spreadsheet, graphics
- Knowledge of Finance Pro or similar software Premium Finance Software is preferred
- Must handle multiple tasks simultaneously
- Must have the ability to prioritize and organize competing assignments
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Senior Loan Processor Job Description
Job Description Example
Our company is growing rapidly and is looking for a senior loan processor. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for senior loan processor
- Balances the ALS and FDR systems
- Provides quality service to protect the loan assets of the bank
- Performs a variety of technical support duties
- Escalates potential issues to management
- Serves as subject matter expert with other departments as it relates to compliance processes or special projects
- Works independently to take on projects as a lead or co-leader
- Takes on non reconciling duties as assigned
- Responsible for the accurate placement of collateral release documents in ARX
- Serve as a back up to the Collateral Lien Perfection processes
- Responsible for onboarding new employees
Qualifications for senior loan processor
- Advanced knowledge of mortgage loan underwriting criteria
- High School Diploma or GED and a minimum of three years of experience managing and processing a diverse pipeline of Premium Finance Loans or complex mortgage transactions or other like financial loan processing experience
- Knowledge of Conventional, FHA, VA, HARP & Rural Development
- Proficient in Fannie and Freddie AUS systems
- Ability to communicate effectively with own team, other teams within the department, line of business partners
- Ability to manage multiple issues in a timely manner
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Senior Loan Processor Job Description
Job Description Example
Our company is hiring for a senior loan processor. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for senior loan processor
- Work closely with other departments to ensure proper communication
- Responsible for procedure/system testing or assisting with procedure writing
- Calling borrowers, real estate brokers, and title companies to request specified documents, such as receipt for payment of outstanding tax bill
- Determining appropriate course of contact (phone, fax, e-mail, written request)
- Calling borrower, broker and other specified individuals to provide status updates and arrange time and date for closing
- Keeping up to date of all policies and procedures
- Create and ensure that documentation complies with appropriate regulations coordinates and tracks legal document
- Orders, monitors and tracks services as appropriate, including Property Valuation, Flood determination and Ownership information
- Reviews property and ownership information for discrepancies along with flood certifications and documents for zones
- Mail correspondence to customers if property is located in a zone
Qualifications for senior loan processor
- Ability to determine the root cause of an issue, when needed by analyzing data and / or documentation to ensure compliance with policies, procedures, and or regulatory and risk requirements all while meeting department service level agreements
- Must have 5 years banking experience in either consumer or commercial lending operations or Equivalent Experience
- Ability to work independently and to carry out assignments to completion within parameters of standard accepted practices or agreed upon Service Level Agreements
- In-depth knowledge in either consumer or commercial loans required – an understanding of both is preferred
- Handling customer inquiries, providing information regarding missing documents and loan status
- 2 or more years of experience with a broad understanding of all facets of mortgage loans or equivalent combination of experience, education, and/or training as an Associate Loan Processor, Loan Processor and/or Senior Loan Processor