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Location: Mumbai, MH, India
Job ID: 1000203
The Loan Processor will ensure the timely and accurate packaging of all loans originated. Should provide strong communication and support to onshore processors and underwriting so that the files moves smoothly.
Job Functions and Responsibilities
• Review loans in process daily and determine what is needed to process loans quickly
• Perform document review and processing system audit to ensure information integrity
• Evaluate and ensure overall loan documents are accurate, complete, and compliant
• Review various reports including AUS, Credit, Income, Assets and Collateral documents (Appraisal, HOI, Flood, Title, etc) to determine compliance with investor requirements
• Create a loan submission package for the Underwriting department
• Create / keep track of ‘Still Needs Template’ from initial submission through closure
• Communicate effectively with onshore processors (SPOCs) and underwriters on follow-ups and queries
• Good verbal and written communication skills
• Sign off on processing conditions
• Process approval and denial letters
• Maintains status of all files in process and updates as needed; keep abreast of all FHA and Investor guidelines and changes that may affect loan status
• Maintain current knowledge about the industry, market trends, competitive position, etc
• Strive to achieve and exceed productivity expectations and standards
• Develop best practice checklists
• Should be flexible with US rotational shifts
• Graduation in any Degree is mandatory
• Relevant experience with loan origination and loan processing (Minimum 2 years)
• High level of proficiency with mortgage loan processing and underwriting systems
• Proficient in Microsoft Office (Word, Excel and Outlook).
• Demonstrate interpersonal, organizational and time management skills
• Good judgment with the ability to make timely and sound decisions
• Time management: Knowing the cut-off times for funding and underwriting so that the file moves smoothly and does not lose a rate lock
• Able to prioritize multiple competing tasks and manage time effective in a fast-paced environment
Training / Licensing Requirements
Must pass the Company’s Background Screening process prior to beginning employment.
Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.