Mortgage Credit Analyst

A mortgage processing manager directs the workflow and procedures of the loan processing team for residential real estate mortgages. They are responsible for recruiting, hiring, onboarding, training, motivating, and managing all members of the mortgage processing team, and ensuring that all team members adhere to regulatory compliance guidelines. Mortgage processing managers act as sales managers that set daily, monthly, quarterly, and yearly goals for the department and interface regularly with team stakeholders to assure the mortgage closing transaction progresses smoothly. They typically work full-time in an office environment at a mortgage lending institution, bank, or credit union, or at a mortgage company.

A mortgage loan officer assistant works under the direct supervision of a mortgage loan officer (MLO) or mortgage loan originator. They are responsible for facilitating the accurate and timely completion of home real estate loan applications including making initial contact and follow-ups with clients, gathering information for new loan underwriting, providing support throughout the mortgage loan application process, and performing administrative duties. They generally work at a mortgage company and interface with their mortgage loan officer, underwriters, realtors, and prospective buyers.

A mortgage loan processor gathers, prepares, and submits relevant information to evaluate a potential loan applicant’s creditworthiness and eligibility for commercial loans or real estate loans. Loan processors meet with applicants to understand their loan product needs and liaise between applicants, real estate agents, financial institutions/ lending institutions, lending underwriters, and mortgage loan officers. They verify and evaluate loan documentation such as debt-to-income ratios, credit reports, credit history, income sources, and property documents to prepare and submit detailed loan applications and loan file packages. Most mortgage processors work at a lending institution office.

A mortgage loan shipper delivers mortgage loan files and posts closing mortgage loan packages for distribution. A mortgage shipper is responsible for daily tracking and maintaining the accuracy of post-closing dates, reporting, and quality control review and reconciliation of each loan package. This process is to ensure all title, escrow, investor, and warehouse bank processes are working in tandem for an efficient and accurate real estate purchase. A mortgage loan shipper generally works full-time with a variety of real estate and mortgage professionals such as mortgage loan officers, underwriters, funders, or mortgage closing supervisors, and may work at title companies, escrow companies, financial institutions, credit unions, or warehouse banks.

A mortgage closer assembles, inspects, and prepares all critical documentation needed to complete the real estate mortgage loan process. The loan closer works with lenders to evaluate and verify that all terms and closing conditions for the mortgage loan have been satisfied and then initiates the transfer of funds from the buyer to complete the transaction. Mortgage closers typically work full time in an office at a lending institution such as a bank or credit union, but can also be employed by smaller financial institutions such as a mortgage company or mortgage brokerage.

A mortgage receptionist is an office assistant that provides mortgage companies with necessary clerical and administrative support. They often act as the first point of contact for clients and associates and represent the company in all communications. Responsibilities include answering phone calls, responding to emails, maintaining the reception area, ensuring office supplies are ordered and stocked and managing the shipping and receiving of confidential documents and packages needed for mortgage loans. Mortgage receptionists generally work part-time or full-time at an office, bank, or mortgage company.

A mortgage closing manager oversees and directs the activities of a mortgage loan closing team. They are responsible for hiring, training, and leading closing department staff, overseeing day-to-day operations of the closing department, and ensuring the accuracy and compliance of post-closing mortgage files and documentation in accordance with investor lending guidelines and state and federal regulations. Mortgage closing managers generally work full time at financial institutions such as banks, credit unions, or title companies, but may also work for smaller firms that specialize in real estate or residential mortgage loan lending.

A senior loan processor oversees the documentation and submission process for residential mortgage loans. They serve as the main point of contact to the borrower, real estate agent, mortgage loan officer, and mortgage underwriter from origination through the close of the mortgage transaction. They obtain and verify the accuracy of borrower financial documentation, as well as any third-party documentation such as hazard insurance certificates, home inspections, title reports, and appraisals needed to satisfy lender requirements. They also ensure that all loan files and credit packages comply with company lending policies, as well as state and federal lending regulations. Senior loan processors typically work full time in an office or branch and serve as an integral part of the mortgage team at a lending institution, such as a bank or credit union, or at a mortgage company or broker.

A mortgage loan partner is an experienced loan professional that works alongside the mortgage loan officer (MLO) or loan originator and assists with loan applications and pre-approvals before they are taken to the loan processor. Main responsibilities include making initial contact and follow-ups with clients, helping loan applicants get “mortgage-ready”, gathering information for new loan underwriting, providing support throughout the mortgage loan application process, and performing necessary administrative duties. Loan partners usually work at a mortgage brokerage or financial institution.

A mortgage broker is a licensed mortgage professional who works on behalf of potential borrowers to find the ideal lender and mortgage loan product for prospective home buyers, or homeowners that are interested in refinancing. They meet with clients and gather all the necessary documentation to create and submit the loan application, research mortgages and interest rates of various lenders, and act as a resource and middleman for the applicant throughout the mortgage process. Many mortgage brokers work independently by creating a vast referral network in the real estate and lending industries, while others may work at an established mortgage brokerage firm, a financial institution, credit union, or lending institution.

A mortgage recruiter leads talent acquisition to hire mortgage professionals such as mortgage loan officers, processors, and underwriters. They collaborate with the hiring managers and branch managers of a company to create a full-cycle recruiting process including candidate sourcing, qualification evaluation, interviewing, and negotiating offers. To source quality candidates, a mortgage recruiter leverages advertising and networking methods to find, attract, and funnel top prospects into the talent pipeline. They also keep detailed records of all applicant communications to foster relationships with job seekers. A mortgage recruiter generally works in an office full-time for a mortgage company, or in the financial services, or real estate industries.

A mortgage loan officer or mortgage loan originator (MLO) assists new and potential loan applicants with navigating the mortgage loan process from start to finish. They are responsible for securing loan file financial documents from potential borrowers, analyzing the loan file data, and consulting with prospective borrowers to educate them on varying loan products. They work with loan processors and lending underwriters to ensure the mortgage loan application meets regulatory and financial institution guidelines for lending. Loan officers generally work at a financial institution, credit unions, or mortgage lending companies.

A mortgage underwriter is a financial expert that assesses a lender’s financial risk on a potential borrower and is ultimately responsible for approving or denying mortgage loans. The mortgage underwriting process includes investigating a borrower’s credit history, ordering appraisals, verifying income and employment, reviewing debt-to-income ratio, confirming down payment and savings account information, and ensuring all paperwork is submitted correctly based on current underwriting guidelines for loan approval. They generally work full time in the branch with occasional after-hours or off-site meetings.

A mortgage branch manager is responsible for the daily operation of a mortgage provider, bank, or credit union. They manage all aspects of the branch, including overseeing the compliance, underwriting, operation, sales, and processing teams. Their main objectives include representing and promoting the company brand, building and growing the branch reputation, and monitoring the growth and development of the team to ensure sales goals are met. They generally work full time in the branch with occasional after-hours or off-site meetings.

A mortgage accounting clerk assists mortgage loan officers by completing clerical tasks for real estate mortgage loans. They investigate and verify the accuracy of financial data and record transactions in accounting software and general ledgers. They also prepare reports for the mortgage lending team, reconcile transactional information, and input documentation to support accounts receivable and accounts payable data, such as deposits, receipts, invoices, and disbursements. Mortgage accounting clerks generally work full-time or part-time in an office environment for mortgage companies or financial institutions.

A junior underwriter works under the supervision of an underwriter to evaluate an applicant’s creditworthiness and determine if a real estate mortgage loan should be granted. The main function of their position is to provide the necessary administrative support to complete the underwriting process to secure an applicant’s home mortgage and ensure all loan and underwriting conditions are resolved or satisfied. Junior underwriters generally work full time at a credit union, financial institution, or private mortgage loan lender.

A junior loan officer works alongside a senior mortgage loan officer to find potential home loan mortgage applicants, help them navigate the loan process, and assist with preparing and closing the mortgage loan transaction. They counsel applicants on various loan products and mortgage programs, prepare loan packages that meet applicants’ specific financial needs, and collect, verify, and analyze financial data to determine an applicant’s creditworthiness and ability to repay a home mortgage loan. Many companies offer training programs for entry-level JLO positions with a lending or financial institution.