Overview of the Role
Mortgage loan processors work with clients to complete mortgage loan applications. This involves collecting, verifying, entering data and submitting the employment and financial data, including an applicant’s assets, current debts and monthly expenses. The goal is to help qualified individuals to obtain loans in a timely manner and protect our organization’s credibility.
Graduate in Commerce.
Basic knowledge of Mortgage terminology.
6 months to 2 years of Experience in Mortgage Industry.
Good written & verbal command over English.
Knowledge & Skills
Experience with working on any of the ERP softwares.
Should have basic knowledge of MS Office.
Ability to understand and interpret financial reports and documents.
Self-learning & ability to manage the work with minimum supervision.
Self-motivation & eagerness to learn new concepts.
Flexible to work in different time zone.
Strong attention to detail and accuracy.
Preparing loan files for submission.
Reviewing and verifying each file to ensure that all information is correct and current.
Analyzing various assets & liability documents like bank statement, Investment statement, property documents, income statement and other documents related to mortgage processing.
Updating the information in the ERP systems. Calculating serviceability & analyzing the products as per client’s requirements.
Preparing the mortgage loan application for the clients, submitting it to the lender and follow up of the loan status with the lender. Communicating the status of the loan to broker via email on a day to day basis.
Ordering credit reports and property valuation report from the appropriate parties and reviewing them for acceptability prior to submitting for approval.
Acting as a liaison and maintaining communication between banks, brokers and all parties involved in the transaction.
Preparing approved loans for closing and coordinating closings with lenders, borrowers and brokers.
Requesting additional information from third parties by phone or email as required.
Completing compliance reviews for the submitting files and for the settled files (Post settlement compliance).