Job Role: Loan Processor (Rapid Division)
Reports to: Processing Manager
Rapid Mortgage Company a leading financial services company dedicated to providing exceptional lending solutions to our clients. We are seeking a detail-oriented and experienced Loan Processor to join our team.
Overview: The Loan Processor is responsible for efficiently clearing all underwriting conditions while maintaining a high level of communication and organization. This role demands strong interpersonal skills, a team-oriented mindset, and the ability to manage a high-volume pipeline of 25 or more files monthly, ensuring an accurate and timely closing process.
Key Responsibilities
- File Review: Thoroughly review loan files upon receipt from Underwriting. Generate and deliver an initial needs list to borrower within 24-48 hours of conditional approval.
- Borrower Communication: Conduct a "Welcome Call" within 24 hours of receiving the conditional approval to explain outstanding conditions and next steps. Maintain ongoing borrower contact every 48 hours throughout processing.
- Condition Management: Immediately address all actionable underwriting conditions. Delegate appropriate tasks to the Processing Assistant and manage timely condition follow-up and resolution.
- Redisclose Management: Monitor daily alerts and complete redisclosures promptly and accurately according to regulatory and company guidelines.
- Pipeline Management: Prepare for and actively participate in weekly pipeline review calls with Loan Officers, updates on loan progress, outstanding issues, and projected closing timelines.
- Internal Collaboration: Work closely with Underwriting, Processing Management, and other internal teams to troubleshoot and resolve loan issues to facilitate smooth and timely closings.
- Appraisal and Title Coordination: Order and track appraisal corrections, final inspections, and work directly with title companies and insurance providers to clear title and policy issues.
- Quality Control (QC): Respond immediately to any QC findings or conditions to ensure compliance with internal and investor standards.
- Closing Coordination: Collaborate with the Funding Team to deliver the signed Closing Disclosure (CD) in a timely manner, ensuring accurate cash-to-close figures and addressing any final changes.
Service Level Expectations
- Submit loans to Underwriting within 24 hours of receipt from Processing Assistant.
- Conduct Welcome call/email and send initial needs list to customer within 24-48 hours of receiving Conditional Approval.
Qualifications
- 3+ years of mortgage processing experience required.
- Proficiency with FHA, VA, USDA, Fannie Mae and Freddie Mac guidelines.
- Ability to independently run AUS systems: DU, LP and GUS.
- Minimum 1 year of experience with Encompass LOS required.
- Strong understanding with TRID requirements.
- Working knowledge of Down Payment Assistance (DPA) programs required.
- Proficiency with Microsoft Office Suite.
- Strong organizational skills, attention to detail and ability to manage a high-volume pipeline.
- Positive attitude, high integrity and strong work ethic.
- Ability to meet deadlines while exercising sound judgement and decision-making skills.
Preferred Knowledge, Skills and Abilities:
- Confidence to process and close 25+ files per month.
- Strong interpersonal, collaboration and organizational skills.
- Positive attitude and strong attention to detail.
- Ability to meet deadlines with sound judgement and prudent decision-making.
- High level of integrity and strong work ethic.
- Leadership experience is preferred by not required.
Work Hours: Availability required between 8:00 AM – 6:00 PM EST
Benefits:
- Competitive salary - please include salary requests with application
- Health, dental, and vision insurance available day 1
- Employer paid life insurance and LTD
- Retirement plan
- Paid time off and holidays
- Opportunities for career development and advancement
Please include salary requests with application.
Top Skills
What We Do
Rapid Mortgage is relationship-based mortgage lender. For us, mortgage lending is about building and maintaining life-long relationships with our clients and partners. We understand our clients and partners are real people with real concerns; so, we make sure every person involved in getting your loan closed is available to speak with you.
We offer competitive rates in a wide range of loan products including Conventional, FHA, VA and USDA Rural Development. Whether you are a first-time homebuyer, a seasoned veteran, have A+ credit, or are in need of credit assistance, we have programs designed specifically for you. Our hands on approach, personal dedication, and understanding show you are more than just a transaction.
OUR GOAL
Treat every relationship with the level of care and sense of urgency that it deserves. Always committed to the growth of our partners and the satisfaction of our clients knowing our business grows through them.
