Residential Mortgage Loan Processor

Overview

The primary responsibility of this position is to collect, assemble, validate and submit residential mortgage loan documentation through established systems while supporting Mortgage Loan Officers, customers and realtors. Incumbents in this position will execute assignments of the highest degree of scope and complexity relative to assignments of entry and core level positions and will mentor junior staff.

This position can be located in Virginia Beach, Newport News, Richmond (Stony Point), Williamsburg, Charlottesville, Chesapeake, or Herndon VA or Columbia, MD.  

There is also the potential for 50% remote work.

The hours are 8:00-5:00 Monday-Friday

Responsibilities

Essential Duties

• Process residential mortgage loan types of the highest complexity level relative to assignments of junior staff that may include conforming conventional, non-conforming, government and housing agency loans, analyze for completeness while adhering to appropriate investor guidelines and coordinate timely submission to underwriting and closing
• Review, evaluate and determine debt-to-income and loan-to-value limitations, research and document source of large deposits and ensure loan meets investor and/or product guidelines and/or requirements
• Serve as point of contact for customers, resolve questions or concerns, confirm required documentation and analyze file for completeness, compliance and adherence to standard mortgage regulations, underwriting and investor guidelines, communicate underwriting decisions and issue commitment letters
• Serve as liaison between Loan Officers and Underwriters, track monthly closings to meet sales, customer and regulatory expectations for loan events and ensure data for Home Mortgage Disclosure Act (HMDA) reporting is complete and accurate
• Provide accurate and timely coordination of redisclosures including but not limited to loan estimate as necessary

Qualifications

Education

High School Diploma or equivalent. (Required)

Experience

5 or more years Residential mortgage banking experience, including processing and underwriting. (Required)

This role may perform other job duties as assigned by the manager. Each employee of the Organization, regardless of position, is accountable for reading, understanding and acting on the contents of all Company-assigned and/or job related Compliance Programs, regulations and policies and procedures, as well as ensure that all Compliance Training assignments are completed by established due dates. This includes but is not limited to, understanding and identifying compliance risks impacting their department(s), ensuring compliance with applicable laws or regulations, and escalating compliance risks to the appropriate level of management.