Processor - Key Mortgage Services

About Key Mortgage Services

When you show your people some love, good things happen. As an independent, family-owned business, Key Mortgage feels like a big family because that's exactly what we are. Our secret is we invest in our people, and they keep getting better-- so our company does, too. Support starts on day one, so you can focus on what's most important--delivering the highest quality home financing services to our customers. At Key Mortgage, we've got your back.

Job Summary

The Loan Processor is responsible for the thorough  review of a file, preparing, and verifying  the data on the loan applications and supporting documentation that has been provided by the  loan officers and submitting the verified loan files to underwriting, if additional information is needed to render a decisions it is the processors responsibility to reach out to the Customer to obtain.  It is our goal for our  Processors to  submit quality loan submission to Underwriting within 4 days of receipt and to provide a high level of Customer Service to our Borrowers,  our sales team and internal team members .  

Essential Duties & Responsibilities

• Proactively manage a pipeline of loans and review daily reports to identify priorities.  Escalate issues to supervisor, when needed.

• Provide excellent customer service.
• Respond promptly to all forms of communication.
• Communicate (both via phone and email). 
• Calculate income, review assets, know how to calculate student loan debt per product(conv or govt loans) and debt ratios.
• Must know how to review a credit report, identify issues that need to be addressed.
• Analyze the title report, purchase contract and appraisal on files for compliance.
• Perform verbal verifications of employment, when needed if our verification team is unsuccessful in obtaining.
• Communicate clearly and professionally with all customers, co-worker, supervisors and management.

• Ensure that the customer understands requests and time requirements, provide deadline for documents.

• Ensures loan quality standards are met, including the review and resolution of any red flags in a file and the satisfaction of all conditions.
• Ensure loan approval can be accomplished by the contingency date and that closing can be accomplished by the estimated closing date, communicate to LO if we are unable to meet a target so expectations can be reset.
• All requests for documentation should be completed through POS “glyde”

• Gather and review all documentation needed for the loan.

• Adhere to checklists and procedures.

• Create notes and a record of all requests in the conversation log to document issues or escalations.

• Prepare loan packets to submit to in-house underwriters, contract underwriters or investor underwriters for approval.

• All Loan Processors will also act as a back-up for other team members in processing due to scheduled and unscheduled absences or as volume dictates.
• Must know how to navigate ALLREGS, Ask Poli, Freddie’s FAQ and FHA’s FAQ, check before you ask.

Requirements

• Minimum of 3 years loan processing experience including conforming conventional, FHA, 203K, VA, USDA, IHDA, Chicago Tax smart programs and sub-prime loans
• Knowledge of Secondary Market guidelines and standards
• Knowledge of TRID, Know before you owe, Regulation B ECOA and other mortgage banking related guidelines
• Familiarity with industry quality control standards and fraud detection methods
• Experience with POS approval processes using LP, DO/DU and other AUS

• Proficient computer skills including Microsoft Word, Excel and Outlook.
• Excellent people skills
• Excellent verbal and written communication skills
• Possesses excellent organizational skills and attention to detail
• Must be able to work independently and research problems / questions as required
• LOS experience required, Encompass preferred
• Google Workspace experience preferred

Benefits

• PTO
• VTO
• Medical
• Dental
• Vision