What are the responsibilities and job description for the Loan Processor position at Orchard?
About the Role
Orchard is looking for a Loan Processor to support all operational aspects of the mortgage transaction process. You will be responsible for gathering and processing all loan documentation and ensure compliance with policy, regulatory, and loan terms on a lender-by-lender basis. The ideal candidate has experience working in a fast-paced environment with a focus on mortgage loan processing and providing exceptional customer service. This is a full time role that will report into the Mortgage Operations Manager.
What You’ll Do Here
- Review and understand the client URLA for both purchase and refinance loan transactions.
- Review initial client documentation to loan structure and package loan submission.
- Ability to breakdown underwriting conditions and communicate documents needed to clients.
- Calculate financials (income, assets, and liabilities) per lender requirements.
- Basic knowledge of Fannie/Freddie guidelines. Ability to problem solve underwriting conditions based on guidelines.
- Review, read, and understand client credit reports.
- Ability to review and understand debt to income ratios.
- Respond to customers’ general questions, inquiries, and concerns while following escalation procedures when necessary.
- Manage loan transactions from initial submission to underwriting through clearance to close.
- Update customers, real estate agents, and title companies on the loan’s progress and status.
- Provide top-notch customer service by effectively communicating and cooperating with team members and customers.
We’d Love to Hear From You if You Have:
- 2 years experience with mortgage loan processing in Conventional, FHA, and VA loan types.
- Experience with managing loan volume of 15-20 closings per month.
- Experience with TPO/Broker processing model and mortgage POS and LOS systems required
- Proficiency in DU/DO/LPA, as well as familiarity with FHA Connection and VA Portal
- Excellent organization, communication, and time management skills.
- Analytical skills with strong attention to detail
- Good judgment and the ability to work independently and ethically
- Ability to multitask, work well under time constraints and within deadlines
- Commitment to working as a team-player
- Proficient in Microsoft Word, Outlook, Excel, and Google-Suite
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