
Senior Mortgage Banking Specialist
1 week ago
A Mortgage Loan Processor plays a pivotal part in the mortgage lending process, assessing borrowers' creditworthiness and risk profiles.
Key responsibilities include analyzing financial data, reviewing loan applications, and making informed decisions to approve or deny loans.
The role ensures all loans meet regulatory requirements and company standards.
- Analyze and verify loan documents for completeness and accuracy.
- Evaluate borrowers' credit histories, employment, income, and debt levels.
- Confirm property values through appraisal reports.
- Evaluate credit reports for borrower's creditworthiness.
- Analyze financial statements, tax returns, pay stubs, and other income documentation.
- Calculate debt-to-income (DTI) ratios and loan-to-value (LTV) ratios.
- Review appraisals and assess property valuations for conformity.
- Ensure loans comply with federal, state, and local regulations.
- Adhere to company policies and guidelines.
- Identify potential risks and assess overall loan risk levels.
Essential Skills and Qualifications
- Bachelor's degree in relevant field.
- Proven experience in mortgage processing or underwriting.
- Strong knowledge of mortgage industry regulations and procedures.
- Excellent analytical and problem-solving skills.
- Detail-oriented with exceptional organizational abilities.
- Proficiency in using mortgage software and financial tools.
- Effective communication and interpersonal skills.
- Ability to work efficiently under pressure and meet deadlines.
- Solid understanding of financial statements and credit reports.
- Certification in mortgage underwriting or related fields is beneficial.
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