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
- Escalates any suspected fraudulent files to Compliance Team
- 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
- Must be willing to assist teammates and build strong relationships with Loan Officers and Operations team members to achieve closing goals
- Knowledge of Fannie Mae, Freddie Mac, FHA, USDA, VA, and other investor guidelines
- Compliance with all Bank Secrecy Act (BSA), Anti-Money Laundering (AML) laws, and Office of Foreign Asset Controls (OFAC) requirements is required. Employee must complete annual training in these areas
$50,000 - $100,000 yearly
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 dreampt 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.