Mortgage Processor

Milan, IL

The Mortgage Processor plays a vital role in the home loan process by ensuring that all mortgage applications are complete, accurate, and compliant with regulatory and investor guidelines. Working closely with loan officers, underwriters, and customers, the processor gathers and verifies documentation, clears conditions, and prepares files for underwriting and closing. This position requires strong attention to detail, excellent organizational skills, and a commitment to delivering exceptional service to both internal and external stakeholders.

Duties and Responsibilities:

Review mortgage loan applications for completeness and accuracy, identifying missing information or inconsistencies that may delay processing.
Collect and verify borrower documentation, including income, assets, employment, and credit history, to ensure eligibility for loan programs.
Order and review third-party services, such as appraisals, title work, flood certifications, and insurance, ensuring all required documentation is received and accurate.
Communicate with borrowers and loan officers to request outstanding items, provide updates, and clarify loan conditions throughout the process.
Submit files to underwriting and work closely with underwriters to clear conditions and resolve any issues that arise.
Prepare files for closing, ensuring all documents are accurate, complete, and compliant with investor and regulatory requirements.
Maintain detailed and organized loan files, ensuring all documentation is properly filed and accessible for audits or investor review.
Ensure compliance with federal and state regulations, including TRID, RESPA, HMDA, and other applicable lending laws.
Support a positive customer experience by providing timely, courteous, and professional service throughout the loan process.
Collaborate with internal departments such as compliance, secondary market, and loan servicing to ensure smooth loan delivery and funding.
Track loan pipeline activity and follow up on outstanding items to ensure timely processing and closing.
Monitor loan status and proactively identify and resolve potential delays or issues that could impact closing timelines.
Update loan origination systems with accurate and timely information to reflect the status of each loan file.
Assist with post-closing follow-up, including document retrieval, corrections, and delivery to investors or custodians as needed.
Participate in audits and quality control reviews, providing documentation and clarification as requested.
Stay current on mortgage lending regulations, investor guidelines, and internal policy changes to ensure ongoing compliance and accuracy.
All other duties as assigned

Position Requirements:

High school diploma or equivalent required; associate or bachelor’s degree in business, finance, or a related field preferred.
Minimum of 2 years of experience in mortgage processing or a related banking/lending role.
Strong knowledge of mortgage loan products, underwriting guidelines, and regulatory requirements.
Proficiency in loan origination systems (LOS) and Microsoft Office Suite.

Required Skills:

Excellent communication and people skills.
Strong organizational skills and diligence.
Ability to manage multiple priorities and meet deadlines in a fast-paced environment.

EOE, including disability/vets

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