Senior Loan Processor
Job Description

Senior Loan Processor Job Description

Senior Loan Processor Job Overview

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.

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Senior Loan Processor Job Template


Senior Loan Processor Job Summary

We are looking for an experienced senior loan processor to join our tight-knit group of mortgage professionals.  The successful applicant will have years of experience in loan processing, excellent attention to detail, and a skilled approach to customer service to help our borrowers navigate the mortgage closing process. We provide the opportunities, the team, and the growth potential to help you achieve your career goals.  If this sounds like the ideal job for you, please reach out to us today!

Location

Ashburn, VA

Senior Loan Processor Responsibilities

  • Serve as the main point of contact for title companies, real estate agents, mortgage loan officer/ mortgage loan originator, borrowers, and mortgage underwriters to facilitate a timely loan closing
  • Obtain and verify that all loan documentation, such as title insurance, appraisals, loan applications, credit reports, and income and asset declarations are accurate and provided promptly to underwriters for loan approval
  • Order third party documentation and reports for residential home loans, create and maintain the mortgage loan file, and assist in clearing underwriting conditions as requested
  • Input loan file documentation accurately into necessary software programs
  • Ensure that all loan files, credit packages, and disclosure packages comply with company lending policies, as well as state and federal lending guidelines

Senior Loan Processor Qualifications

  • Bachelor’s degree preferred; high school diploma required
  • 2-3 years experience with a mortgage company, mortgage banker, or mortgage lender as a mortgage loan processor is needed
  • Working knowledge of the mortgage industry, specifically federal and state regulatory requirements are essential
  • Solid knowledge of various residential mortgage loans such as FNMA, FHA, VA, USDA, and Conventional is vital -- Commercial loan and Refinance loan knowledge is helpful
  • Exceptional time management, attention to detail, customer service, and communication skills are necessary
  • Proficiency with MS Office, Loan Origination Software (LOS), and Automated Underwriting System (AUS) are desired

Senior Loan Processor Compensation

$55,959 (National Average)

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