Mortgage Loan Processor

"Rate is one of the nation’s top retail mortgage lenders, delivering a seamless, tech-driven experience that helps customers reach their homeownership and financial goals. Founded in 2000 and based in Chicago, Rate is licensed in all 50 states and D.C. and has helped over 2 million homeowners with a wide range of loan products, competitive rates and personalized service. With 5,000+ employees across 300+ offices and 12+ subsidiaries, Rate’s Loan Officers rank among the best in the country. From purchases and refinances to tapping into equity, Rate makes financing faster, simpler and less stressful. Our technology — including Same Day Mortgage, the Rate App, FlashClose℠, MyAccount and the Language Access Program — has earned recognition from HousingWire, Scotsman Guide, NerdWallet, the Chicago Tribune and Crain’s Chicago Business. Learn more at rate.com."

Job Profile

Senior Processor

Job Description Summary

Salary Range: 50k to 70k

Job Description

Responsibilities

• Manage residential mortgage loans from application through closing, serving as the primary processor assigned to each file
• Work closely with Loan Officers, underwriters, title companies, appraisers, and other third parties to ensure a smooth and efficient loan process
• Collect, review, and verify all borrower documentation required to support underwriting decisions
• Order and review AUS findings, appraisals, title work, flood certifications, verifications, and other required loan documentation
• Analyze income, assets, credit, and collateral documentation to ensure completeness and accuracy prior to underwriting submission
• Submit complete and accurate loan files for underwriting review and efficiently manage all underwriting conditions through final approval
• Monitor loan progress and proactively communicate status updates to all parties involved in the transaction
• Schedule and track critical loan milestones, including appraisal, underwriting, contingency, lock expiration, and closing dates
• Utilize mortgage technology platforms and LOS systems to effectively manage an individual pipeline while maintaining service level expectations
• Ensure compliance with investor, agency, company, and regulatory requirements throughout the loan process

Qualifications

• Minimum of 3 years of recent mortgage loan processing experience with Conventional, FHA, and VA loan products
• Strong working knowledge of Fannie Mae Desktop Underwriter (DU) and Freddie Mac Loan Product Advisor (LPA)
• Demonstrated ability to accurately calculate and analyze income for salaried, hourly, commissioned, and self-employed borrowers
• Thorough understanding of mortgage underwriting guidelines, documentation requirements, and loan eligibility standards
• Strong organizational skills with the ability to manage a high-volume pipeline independently
• Excellent communication and customer service skills with the ability to build effective relationships with borrowers, Loan Officers, and business partners
• Detail-oriented with exceptional follow-through and the ability to meet deadlines in a fast-paced environment
• Strong problem-solving skills and the ability to identify and resolve issues proactively
• Self-motivated team player with a commitment to integrity, accountability, and operational excellence
• Dedicated to providing an outstanding client experience throughout the mortgage process

Additional Job Description Summary

Rate is an Equal Opportunity Employer that welcomes and encourages all applicants to apply regardless of age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy or other reason protected by law.

The company offers a comprehensive benefits program to eligible employees, including eligibility to participate in a company-sponsored 401(k); vacation benefits; eligibility for medical, dental, vision, and prescription drug benefits; flexible benefits (e.g., healthcare and/or dependent day care flexible spending accounts); life insurance and death benefits; critical care insurance; personal accidental insurance; commuter benefits; pet insurance; certain time off and leave of absence benefits; well-being benefits (e.g., employee assistance program); and other supplemental benefits (e.g. legal planning assistance; identity theft protection; pet insurance; wellness resources).

The company offers a comprehensive benefits program to eligible employees, including eligibility to participate in a company-sponsored 401(k); vacation benefits; eligibility for medical, dental, vision, and prescription drug benefits; flexible benefits (e.g., healthcare and/or dependent day care flexible spending accounts); life insurance and death benefits; critical care insurance; personal accidental insurance; commuter benefits; pet insurance; certain time off and leave of absence benefits; well-being benefits (e.g., employee assistance program); and other supplemental benefits (e.g. legal planning assistance; identity theft protection; pet insurance; wellness resources).

Please click this link to learn more about our benefit offerings for Washington State: Benefit Offerings for Washington State