Mortgage Loan Processor III

SUMMARY: Waterstone Mortgage is seeking a highly skilled Mortgage Loan Processor to take ownership of complex residential loan files from contract through this role you will manage the full processing lifecycle ensuring files move efficiently accurately and in full compliance with investor and regulatory guidelines. Aligned with our Moreithi Team this role is remote. If you are a detail-driven Processor who thrives on accountability precision and successfully getting loans across the finish line we encourage you to apply.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Review new file within 48 hours of receipt and verify that compliance documents were issued within proper time frame. Notify the appropriate staff member if additional documentation or information is needed.
• Ability to maintain a pipeline of 20 to 30 files and/or three to five loan originators.
• Order all necessary documents to satisfy AU and/or product requirements from Loan Originator customer or Vendor.
• Track all requested documents in Encompass.
• Review documentation received within 24 hours of receipt for discrepancies omitted data calculate verified income verify assets and update Encompass based on verified information.
• Immediately notify Loan Originator of any discrepancies on documentation. Loan Originator will determine necessary remedies.
• Prepare loan for underwriting submission by utilizing investors submission checklist.
• Clear any approval or suspense conditions as outlined by the underwriter.
• Ensure that all appropriate closing documentation is in the loan file (i.e. title documentation home owners insurance etc.). Documents are to be reviewed within 24 hours of receipt and communicated with Loan Originators.
• Loans are to be processed to meet contract deadlines and rate lock expiration dates.
• File to be given to closing department within timelines established by WMC.
• Assist other processors Underwriters and Closing departments as needed.
• Respond to customer inquiries and other related parties on a transaction as needed.
• Assist with the clearing of post-closing exceptions received by investor to ensure WMC does not incur any financial loss.
• Knowledge of current states mortgage lending laws.
• Order FHA and VA case numbers on government sites.
• Possess knowledge of Real Estate compliance guidelines and ability to implement them.
• Maintain a focus on enhancing customer service skills and knowledge

ADDITIONAL DUTIES:

• Complete any additional duties as assigned by management
• Complete regulatory and compliance training as required.
• Assist WMC employees and departments as needed

QUALIFICATIONS: To perform this job successfully an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge skill and ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and/or EXPERIENCE: A high school diploma or general education degree(GED) and five plus years of convention fixed and ARM HELOC and construction mortgage loan processing is required. Extensive knowledge of VA and FHA loan processing and experience working with multiple investors is required.

CERTIFICATES LICENSES REGISTRATIONS: This position may require registration under the National Mortgage Licensing System (NMLS) if processing a loan being originated in a state that requires federal registration. Individual must be in good standing with or be approved by NMLS in accordance with the S.A.F.E Act.

Individuals in this position shall not engage in loan origination during the course of his/her employment with WMC. Loan origination is defined as (1) taking a residential mortgage loan application; or (2) offering or negotiating terms of a residential mortgage loan for compensation or gain; (3) advertising or communicating to the public that you can perform loan origination services. Please see the Loan Originator Compensation Policy for more details on the definition of loan origination.