Mortgage Loan Processor

Valon Lending

Valon is currently scaling up its mortgage lending business, which aims to provide the ability to access low-cost, streamlined mortgage credit to Valon borrowers and tools to retain borrowers in their portfolio for Valon partners. We are looking for experienced and innovative individuals to help build our team and business who are eager to change the mortgage industry for the better.

About this Role

The Mortgage Loan Processor takes ownership of residential mortgage loan files after Origination and works to fulfill the requirements to advance them to Closing. This includes obtaining, reviewing, and assembling documentation, along with preparing and submitting files. Loan Processors work closely with Customers, Loan Officers, and both internal and external partners providing a high level of service in a professional manner.

Responsibilities

• Review new files within 48 hours of receipt and verify that compliance documents were issued within the required time frame.
• Prioritize and monitor daily workflow in order to ensure all loans are being worked on in accordance with company's timeline expectations.
• Maintain constant communication with customers and loan agents on status updates and/or changes to the loan.
• Ensure any necessary and critical changes which require redisclosure have been accurately notated and checked in the loan origination system (Encompass) for compliance purposes.
• Serve as the representative to the mortgage team and be available to all parties throughout the process.
• Rectify issues and look into any red flags
• Notify the appropriate staff member if additional documentation or information is needed.
• Maintain a pipeline of 25 or more loan files
• Gather and submit post-closing documentation
• Order all necessary documents to satisfy AUS findings, investor and agency requirements.
• Verify, review and track all requested documents in Encompass.
• Review documentation received within 24 hours of receipt and follow up in the event of discrepancies or omitted data. During documentation review, if any discrepancies are identified immediately notify Loan Originator or appropriate team members.
• Use documentation to perform functions, such as calculating verified income or verifying assets, and update Encompass accordingly.
• Review, organize and prepare loans for underwriting submission.
• Clear any approval or suspense conditions as outlined by the underwriter, or closer.
• Ensure that all appropriate closing documentation is in the loan file (i.e. title documentation, homeowners’ insurance & third-party invoices). Documents are to be reviewed within 24 hours of receipt and communicated with Loan Originators.
• Loans are to be processed to meet purchase contract deadlines and rate lock expiration dates.
• File submitted to closing department upon obtaining the CTC – Approval milestone.
• Assist other processors, Underwriters and Closing departments as needed.
• Respond to customer inquiries and other related parties on a transaction as determined by Loan Originator.
• Assist with the clearing of post-closing conditions received to avoid any financial loss.
• Knowledge of current state's regulatory lending laws and requirements.
• Experience using Government sites for VA and FHA files to place orders and obtain case numbers.
• Maintain a focus on enhancing customer service skills and knowledge.
• Ensure KPI’s are met set forth by the branch manager or corporate processing manager.
• Maintain quality and data integrity of all loan files.
• Able to comply with the policies and procedures outlined in the Company Handbook
• Perform other duties as assigned.

Required Experience

• 8+ years of mortgage processing or underwriting experience
• 5+ years of using Encompass LOS (ICE Technology/EllieMae)
• 5 + years of experience ordering and following up on needed third party services
• Understanding of mortgage industry federal regulation including RESPA, TILA, ECOA, TRID, CFPB, etc.

Ideal Background

• 10+ years of mortgage processing or underwriting experience
• Bachelor’s degree or equivalent work experience
• Thorough knowledge of underwriting process and agency/investor requirements
• Experience with industry technology (DU, LP, Encompass, CRM, etc.)
• Strong communicator with excellent writing skills
• High integrity with strong ethical values
• Team player with ability to work effectively with a variety of team members

Benefits

• Compensation: competitive salary and partake in our performance bonus program and 401k plan
• Health & well-being: we’ll invest in your physical and mental well-being with comprehensive medical, dental, & vision benefits, One medical membership, and Talkspace to provide mental health support
• Food & meals: in-office snacks and drinks, Bagel Fridays and regular Food Trucks on premise
• Commuter benefits: We offer pre-tax deductions for public transportation, rideshare services, and parking expenses to make your commute more affordable and convenient.
• Grow together: Company wide orientation for you to successfully onboard and other learning & development opportunities including regular review cycles that feature 360 degree feedback
• Play together: quarterly budgets for team and company outings. Use it for team swag, cooking classes or team dinners!
• Generous time off: 17 days paid time off, sick days, and 11 company holidays