Senior Processing Manager

General Summary

• The Senior Processor partners with Originators, Borrower, Underwriting and Closing teams in preparing loan files. The Senior Loan Processor may
• also be responsible for providing training and coaching to Loan Processors and branch staff, processing employee loans and escalated member
• complaint files. This position acts as subject matter expert for the Loan Origination System (LOS) and is responsible for a variety of administrative
• duties. Strong communication skills are needed for this position as it requires interaction with branch staff, third-party vendors, and corporate
• employees, at all levels of the organization, in a timely, efficient, and professional manner. This position may also provide an opportunity to become
• a licensed Originator, which includes completing additional state licensing requirements.

Duties and Responsibilities

The primary job duties and responsibilities of this position include but are not limited to:

Responsible for maintaining a leadership role including but not limited to training new mortgage Loan Processors, sharing solutions to various underwriting issues and share best practices with all team members

Prioritize strategically by organizing resources, time, and people to achieve key objectives; proactively address critical concerns, work quickly to get things done; demonstrate knowledge skill and abilities while demonstrating operational excellence and delivering consistent results

Lead by example, communicating decision making processes; demonstrate transparency and honesty

Pull/Update credit reports, order disclosures, appraisal, title, insurance and Verification of Employment (VOE), fraud compliance and tax return verification for loan files

Clearly communicate and engage team in achieving goals, providing clear and timely feedback and hold employees accountable in achieving performance expectations

Review new files within 48 hours of receipt and verify that compliance documents were issued within proper time frame. Notify the appropriate staff member if additional documentation or information is needed

Review mortgage loan applications for accuracy and ensure LOS is updated appropriately

May work directly with borrowers answering questions and assisting in guiding them through the loan process

Confirm and validate loan application information by ordering all necessary documents to satisfy AUS (Automated Underwriting System) findings, investor and agency requirements

Validate loan in automated underwriting systems (DU, LP or GUS)

Use documentation to perform functions, such as calculating verified income or verifying assets, and update LOS (Encompass) accordingly

Coordinate all third-party services such as survey, appraisal, title, homeowner’s insurance, etc.

Review all loan and verification documents for accuracy and update information in LOS (Encompass)

Utilize Government sites for VA and FHA files to place orders and obtain case numbers

Compile and review documentation (i.e., income, assets, liabilities, employment, etc.) received within 24 hours of receipt and follow up in the event of discrepancies or omitted data. Immediately notify Originator or appropriate staff if any discrepancies are identified

Receive appraisal and supporting documentation and notifies MLO of approval

Upload all relevant documentation received to Image Flow for validation

Prepare loan disclosures according to TRID regulations

Prepare and submit loan files to Underwriting (UW) for pre-approval decision and requests additional documentation to clear conditions

Review loan approval and ensure all tasks are completed and loan is on target to meet expected closing date

Send pre-approval letters and prepares files for closing

Proactively communicate loan status or updates to the Borrower(s), Originator and Third Parties

Assist with the clearing of post-closing conditions received to avoid any financial loss

Update various systems of record with critical loan information

Collaborate with title, valuation, underwriting, closing, technology, and other operational teams

Prepare mortgage loan commitment and denial letters, as applicable

Upon Clear to Close (CTC), submit loan files to Underwriting (UW) for final approval before submittal to Closing

Continue to stay abreast of underwriting and compliance guidelines and well as current regulatory lending laws and requirements

Maintain a focus on enhancing customer service skills and knowledge

Manage an assigned pipeline of 25+ loans continuously to meet closing expectations

Assist other Processors, Underwriters and Closing team members as needed

Maintain regular attendance, plus potential overtime, as necessary

Additional duties as assigned

*Unlicensed associates who have borrower contact cannot quote rates, offer or negotiate the terms of a mortgage loan, take a mortgage application, or engage in any other activities that require a mortgage loan originator license.

THIS JOB DESCRIPTION IS NOT INTENDED TO BE ALL-INCLUSIVE. THE INCUMBENT WILL ALSO PERFORM OTHER REASONABLY RELATED BUSINESS DUTIES AS ASSIGNED BY MANAGEMENT.

Qualifications

Listed below are the minimum qualifications required to successfully perform this role. These qualifications are necessary for someone to be considered for this position.

Qualifications include:

High school diploma/GED and comparable work experience, required

7+ years related experience as a processor, underwriter or equivalent

Demonstrated leadership skills, able to engage others in achieving goals and providing excellence in all they do

Thorough working knowledge of real estate documentation, underwriting policies, compliance, and procedures

High level of proficiency with mortgage loan processing and underwriting systems

Solid Knowledge of TRID, RESPA, FHLMC, FNMA, FHA, VA program guidelines

Knowledge of Microsoft Excel, Word, and Outlook

Working knowledge / Proficiency in Desktop Underwriter/Desktop Originator (DU/DO), Loan Prospector (LP), and originating systems, Encompass experience preferred

Ability to learn, or have past in-depth experience, in mortgage banking process, with a preference in residential mortgage banking

Ability to analyze issues and create effective resolutions, while managing multiple projects concurrently

Ability to process, organize and interpret large amounts of data, which reflects loan files

Excellent customer service skills and adept at working in a team environment

Must be a self-starter who is reliable, detail oriented with the ability to resolve issues

Exceptional follow-up, time management, interpersonal, and verbal and written communication skills

Proven ability to handle multiple loans and meet closing dates

Demonstrated ability to pre underwrite a loan file

Must be able to speak, read, write, and understand the primary language(s) used in the workplace

Physical Requirements

The employee must occasionally lift and/or move up to 25 pounds

Specific vision abilities required by this job include close vision

While performing the duties of this job, the employee is regularly required to sit, use hands to finger, handle, or feel; reach with hands and arms; and talk or hear

The employee is occasionally required to stand; walk; climb or balance and stoop, kneel, crouch or crawl

We are an equal opportunity employer and value diversity. All employment is decided on the basis of qualifications, merit and business need. We are committed to creating an inclusive environment for all employees.