Loan Processor III
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 Loan 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 Loan Advisors with processor related questions/issues. Communicate pertinent updates/procedures to processors and Loan Advisors.
- 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
- Effective and responsive telephone etiquette
- Experience with Encompass a plus
Opes Advisors, a mortgage bank headquartered in Cupertino, Calif., is a recent addition to the Flagstar family and now a premier brand of its retail mortgage division. It has operated since 2004 as a relationship-based, technology-driven mortgage company with an innovative approach to helping people make one of life’s most important financial decisions.
Collectively, Flagstar and Opes Advisors offer clients a powerful lineup of products, a best-in-class retail origination platform, and a professional, experienced cadre of Loan Advisors skilled at crafting home lending solutions. Opes Advisors expands Flagstar’s geographic range, offering even more clients access to the combined offerings of both teams. Flagstar is the fifth largest bank mortgage originator in the U.S. and operates nationally through more than 70 retail home loan centers.