Job Summary The primary objective for this role is to effectively meet individual and team production objectives while upholding the company's principles and values, maintaining high quality standards and compliance, and maintain the company's stellar reputation in the marketplace. The Mortgage Loan Processor acts as the liaison between the Mortgage Advisor and the Operations team and is responsible for the day-to-day administration of the mortgage loan process.
Handles complex loans (jumbo, Government, multiple loans same borrower). Maintains a personal pipeline and/or overflow pipeline as needed to meet set turn time promises. Effective pipeline management of 30-50 loans. Responsible for the team pipeline to ensure all closing dates and commitment dates are met.
Assist MA's with processor related questions/issues. Communicate pertinent updates/procedures to processors and MA's as needed.
Train entry-level processors and/or provide guidance to other processors. Provide support as needed to process complex loans or with problem loan files. Act as the subject matter expert for departmental systems and processes. Conduct weekly staff meetings with Processing team to check in and stay abreast of individual, branch needs and production status.
Manage expected and unexpected time off and re-assign work load as needed to maintain set turn times. Utilize production reports to effectively manage the team performance. Achieve established production goals for the department in relation to funded volume, cycle time and customer satisfaction.
Maintain custom forms/templates/print sets to ensure compliance with company and investor requirements.
Ensure all quality standards are consistently achieved.
Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
HS Diploma, GED, or Foreign Equivalent required, Bachelor's degree preferred
4+ year current mortgage loan processor experience
Solid experience working with multiple loan types
BA/BS degree in business, finance or related field preferred
Demonstrated ability to effectively manage a pipeline of 25-50 loans
Strong working knowledge of automated underwriting systems LP/DU
Experience with FHA and VA underwriting guidelines
Completes tasks in resourceful and effective ways
Works on assignments requiring moderately to considerable judgment and initiative
Understands implications of work and makes recommendations for solutions
Excellent attention to detail
Excellent written and verbal communication skills
Excellent analytical skills
Superior Internal/External customer service skills
Ability to multi-task and work in a fast pace environment
Ability to work independently, as well as part of a team