The Processor plays an integral role in the mortgage origination loan process within ALCOVA Mortgage. The Processor is responsible for reviewing and validating all information presented on the Loan Application by the borrower. Processors work closely with Loan Officers and borrowers to ensure loan applications are thoroughly completed and adhere to Company, investor, and industry-established standards. The Processor must have excellent 'people skills' and be driven with the desire to make sure every client has a positive experience with ALCOVA Mortgage.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.
- Handles all areas of mortgage loan processing, such as: analyzing income and asset documentation, reviewing appraisals, sales contracts, and titles, submitting files to an Automated Underwriting System, processing loans in Encompass (loan origination system), and ordering mortgage insurance.
- Collects documentation as required to support information provided on the loan application.
- Ensures accuracy and completeness of all files and submits completed loan files to Underwriting.
- Thoroughly reviews and resolves any and all documentation or factual discrepancies prior to submission of the loan to the Underwriting Department.
- Reviews file documentation to ensure all necessary items have been requested (e.g., purchase contracts, bankruptcy papers, trust documents, etc.)
- Orders third-party reports.
- Maintains dialogue with Loan Officers, Branch Managers, borrowers, lenders, title companies, and other parties as needed.
- Must maintain mortgage loan information confidentiality.
- May manage multi-state loan pipeline of loans.
- Communicates to Processing Manager if unable to achieve a timeline or to resolve an error.
- Escalates any suspected fraudulent files to Compliance Team.
- Manages key dates, such as lock expiration, contingency date, contract date, credit doc expiration, and all compliance related dates.
- Partners with Loan Officers and Underwriters on difficult and/or exception transactions.
- Assists Quality Control, Closing, and Post-Closing Departments on loan files, when necessary.
- High school diploma or equivalent.
- Minimum of at least one year of mortgage processing experience required. Relevant experience may be considered.
- Working knowledge of Encompass, Desktop Underwriter, Loan Prospector, GUS, Microsoft Office (Word, Excel, and Outlook), and Internet applications.
- Knowledge of regulatory and compliance guidelines and required state and federal disclosures.
- Ability to adapt to changing environments, situations, and job responsibilities.
- Capacity to work in a team-orientated environment from a remote workplace.
- Ability to prioritize complex diversified responsibilities and multi-task in a fast-paced environment.
- Strong organizational and time management skills to balance workload and meet deadlines.
- Must be willing to assist teammates and build strong relationships with Loan Officers and Operations team members to achieve closing goals.
- Excellent interpersonal and communication skills (verbal and written).
- Self-starting, self-reliant, highly motivated, and dependable.
- Technologically savvy and comfortable learning new computer systems and programs.
- Working knowledge of state and federal lending guidelines and a thorough understanding of the processes and procedures.
- Knowledge of Fannie Mae, Freddie Mac, FHA, USDA, VA, and other investor guidelines.
- Working knowledge of the VA Portal.
- Ability to operate under immense pressure and manage stress well.
- Compliance with all Bank Secrecy Act (BSA), Anti-Money Laundering (AML) laws, and Office of Foreign Asset Controls (OFAC) requirements is required. Employees must complete annual training in these areas.
This job operates in a clerical office setting with climate-controlled surroundings, adequate lighting, and little or moderate noise when in the office. These standards must be met if working remotely. In this role, the individual routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets, and fax machines.
This is largely a sedentary role; however, some filing and photocopying are required. This would require the ability to lift files, open filing cabinets, and bend or stand as necessary.
EXPECTED HOURS OF WORK
Days and hours of work are Monday through Friday, 8:30 A.M. to 5 P.M. Evening and weekend work may be required, as job duties demand.
This position performs additional duties as assigned, given adequate guidance and resources. This Job Description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
About ALCOVA Mortgage
Most companies start with a business plan. ALCOVA Mortgage started with a friendship. Bound by common background and inspired by a passion to serve, childhood friends Bobby Nicely, Billy Siple and Rob Lindstrom dreamed of one day starting a business.
In 2003, the trio joined together to establish a mortgage company—ALCOVA—an acronym for Alleghany County, VA, in honor of their roots.
In 2012, ALCOVA Mortgage made its debut on the Inc. 5000 list of fastest-growing private companies in the United States and has been recognized every year since. The company’s phenomenal growth of 96% in three years propelled it into the league of such legendary businesses that gained notoriety on the prestigious list as Dell, Microsoft, LinkedIn, Pandora, Timberland, Zillow, Yelp, and Domino’s Pizza.
Today, ALCOVA continues to thrive, largely because of its roots in a friendship and the passion to serve.