Mtg Loan Processor
Company: Xenith Bankshares, Inc.
Posted on: May 3, 2021
The position is responsible for the administrative
responsibilities of the completion of residential mortgage loan
applications and supporting documentation and properly packaging
loan submissions for further underwriting as required by policy and
- Review all Loan Applications including 1003, GFE and TIL for
accuracy, completeness and compliance.
- Provide Loan Officer and/or Loan Officer Assistant with
complete list of all missing documents.
- Calculate accurate debt-to-income (DTI) and loan-to-value (LTV)
- Send/receive all verification forms including but not limited
to VOR, VOM, VOD, Social Security, VOE, condo/PUD, 4506T and Flood
Certifications. Conduct regular follow-ups with outside sources for
- Ensure that all HMDA information on Loan Application is
- Maintain accuracy and completeness of Status on all files in
- Analyze Risk Assessment from Kroll Factual Data. Retrieve
Social Security verifications if TruAlert is less than 100.
- Rerun AUS after receipt of all documents and prior to loan
- Upload all information to Encompass.
- Order all FHA Case Numbers.
- Send/receive all pertinent information for issuance of Hazard
- Update Credit Reports.
- Review all appraisals for required values and notify Loan
Officer regarding discrepancies so that (a) contingencies may be
removed from Sales Contract (b) loan amount conforms to
- Review Title work for seasoning requirements, liens, entity
- Review Hazard Insurance for required coverages.
- Maintain communication with Applicants, Loan Officers and Loan
Officer Assistants throughout the processing period, assisting them
with any questions and notifying them of any additional information
required and / or be responsible to get them yourself.
- Monitor incoming mail, faxes and email for requested
- Complete final evaluation and analysis of completed application
packages, prepare/send files to underwriting for loan
- Review conditional approval and submit to Closing Department
all documents referred to as the Closing side package.
- Review final HUD 1's.
- Update Encompass with accurate reason(s) for the adverse action
as soon as it is determined that applicants have withdrawn,
cancelled, or have been denied, so compliance can send required
- Update status of all loans in process in prescribed manner i.e.
- Ensure any confidential consumer information on paper is stored
in secure storage cabinets provided.
- Maintain thorough knowledge of documentation required to meet
underwriting and compliance requirements
- Provide guidance and training to less experienced
- Cross train coworkers
- Other duties as assigned.
This position reports to the Manager - Corporate Processing.
Education & Experience
- High school diploma or equivalent work experience
- Minimum 3 years mortgage lending experience to include prior
Knowledge & Skills
- Working knowledge of FHLMC, FNMA, FHA, and VA documentation
guidelines and mortgage lending regulations including
Truth-in-Lending, RESPA, ECOA, FDPA, HMDA and CRA
- High degree of professionalism
- Excellent customer service skills
- Excellent interpersonal, communication, and organization
- Ability to handle multiple tasks
- Flexible, able to adapt to change
- Advanced math and moderate accounting skills
- Basic analytical and problem solving skills
- Basic knowledge of mortgage loan processing criteria
- Good communication skills, written and oral, in relating to
internal and external customers
- Good organizational skills
- The ability to develop a basic understanding of underwriting
- Ability to effectively perform multiple tasks under aggressive
- Ability to work with minimum supervision
- Moderate computer skills relevant to Microsoft Office
- Knowledge of DU, LP, GUS.
- Knowledge of Encompass a plus.
We are proud to be an EEO/AA employer,
Minority/Female/Disability/Veteran. We maintain a drug-free
Keywords: Xenith Bankshares, Inc., Reston , Mtg Loan Processor, Other , Reston, Virginia
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