Mortgage Loan Processor (US)

US Mortgage Loan processor

Shifts Rotational (24*7)

This candidate will be responsible for the entire end-to-end mortgage loan process. They will gather and process all loan documentation and ensure compliance with policy, regulatory, and loan terms.

Responsibilities

• Review each loan file to verify that documents are present, accurate, and complete before underwriting
• Manage loan process through mortgage software system
• Ensure that loan rules, obligations, and deadlines are met
• Audit and prepare quality files that meet closing objectives
• Obtain mortgage loan documentation for clients

Qualifications

• Bachelor's degree or equivalent
• Previous experience with mortgage loan processing preferred
• Knowledge of FHA, VA, Conventional, and USDA loans

As Loan Processor, you will play a critical role in ensuring the accurate capture of fees from Loan Estimates (LE) and Closing Disclosures (CD), as well as all data elements required for regulatory testing, within Encompass, Chases loan origination system. You will manage various loan fees, validate mortgage documents, and advance milestones within Encompass to ensure loans are funded within established service level agreements (SLAs). Your responsibilities include precise data entry, thorough document validation, and effective workflow management to uphold financial accuracy and maintain compliance with both internal policies and industry regulations. You will collaborate with cross-functional teams to resolve discrepancies and support a seamless loan processing experience.

Essential Job Functions:

• Data Entry & Document Validation:
• Accurately input, review, and validate all required data and documents, including but not limited to Closing Disclosure (CD), Loan Estimate (LE), Change of Circumstance (COC), Flood Certificate, Private Mortgage Insurance (PMI) Certificate, Settlement Protection Letter (SPL), Uniform Collateral Data Portal (UCDP) Submission Summary Report (SSR), and FHA and VA documents.
• Fee & Credit Management:
• Add, verify, and differentiate feesincluding borrower-paid, seller-paid, lender-paid, and seller or lender credits; set up proper escrow amounts; and ensure that cash to or from the borrower aligns with the final Closing Disclosure (CD).
• Disclosure & Condition Processing:
• Identify, process, and validate disclosuresincluding Change of Circumstance (COC) and Intent to Proceed; add conditions; and manually create Loan Estimates (LE) and Closing Disclosures (CD) using Disclosure Tracking for regulatory testing.
• Service Coordination & Issue Resolution:
• Order services, create and manage work requests, and resolve milestone blockersincluding running DataVerify, repricing loans through Lender Price, and updating assessment types and AUS recommendations on agency loans.

Requirements:

This role requires a wide variety of strengths and capabilities, including:

• Ability to adapt in a demanding environment and openness to change.
• Strong attention to detail and orientation toward meeting deadlines.
• Ability to work flexibly and productively in a fast-paced environment.
• Excellent alpha/numeric data entry and typing skills with high accuracy.
• Ability to follow directions, learn quickly, and perform duties with minimal supervision.
• At least an 'On Track' rating on the most recent My Performance assessment for Chase employees.
• Mortgage banking experience and knowledge of Correspondent Lending are a plus.
• Flexible to work in 24/7 process including night shifts and weekends

Years of experience needed

• Minimum 1 Year of experience US Residential Mortgage preferably in Loan Estimate and Closing Discosures with excellent knowledge of guidelines and documentation

Thanks & Regards

Meenakshi Verma

Email: meenakshi.verma@mphasis.com

Contact#: 9596024539