Guild Mortgage
Overview
Join to apply for the
Loan Processor III
role at
Guild Mortgage . Guild Mortgage Company has been closing loans and opening doors since 1960. We are a mortgage banking firm dedicated to serving home owners/buyers with affordable home financing and professional service. Responsibilities
Process and pre-underwrite conventional, FHA, VA and Bond mortgage loans to ensure compliance with Company, secondary market investor, and government agency standards. Achieve production and quality metrics. Act as liaison between loan officer, borrower, underwriter and funding. Prepare and review loan files for submission completeness and compliance with underwriting and investor guidelines. Monitor the loan processing cycle to ensure timely closings. Communicate and coordinate resolutions of issues that delay loan closing timelines. Serve as a go-to subject matter expert/lead when Supervisor/Lead is not available. Become the contact for non-licensed activity once the loan is submitted to them. Monitor the lending process, identify, resolve, and communicate issues that could affect timely closure of loans. Analyze loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source of down payment funds, and review supporting documentation to identify potential fraud or misrepresentation. Identify potential issues and communicate them to the consumer and loan officer. Order and review third-party documentation (credit checks, title reports, appraisals, tax returns, verifications of employment/assets, etc.) to identify and address issues. Stay current with federal, state regulations, policies and industry trends. Check ratios and verify accuracy of AUS findings and program applicability. Review and verify documentation integrity to ensure alignment with findings, completeness and compliance; submit loan file to underwriting for approval. Identify qualifying/program issues prior to submission to Underwriting and restructure loan as necessary. Provide options within guidelines and recommend borrower qualifications for suitable programs. Update and verify data input into systems. Verify compliance with Company standards, federal and agency regulations, and applicable state/local regulations. Obtain and verify clearance of underwriting conditions and prepare the file for submission to Closing. Order generation of loan documents. Coach and guide less experienced Processors as needed. Use and modify templates to compose professional correspondence and emails. Provide status updates to Loan Officers and/or borrowers. Qualifications
High school diploma or equivalent required; college courses/technical training related to Business, Finance/Accounting, Legal, or related field preferred. Five or more years’ experience as a Loan Processor, preferably processing conventional and FHA loans, with at least two years of VA and Bond mortgage loan processing experience. Ability to build strong relationships with loan officers, production, underwriting, closing and other partners. Expert knowledge of mortgage lending processes and regulatory requirements for conventional, FHA, VA and Bond loans. Expert knowledge of loan programs, guidelines, conditions for approval, and investor-specific guidelines. Expert knowledge in new construction documentation and condominium projects. Expert knowledge of valid documentation for processing mortgage applications (e.g., complex tax returns, financial statements, verifications of income and deposits). Sound judgment and critical thinking to evaluate facts, consider downstream impact and risk. Ability to prioritize multiple tasks in a deadline-driven environment with a strong sense of urgency. Excellent customer service and communication skills (verbal and written). Intermediate math skills. Strong detail orientation and highly organized. Experience with internal data entry systems, Microsoft Word, Excel and PDF/document retention programs. Supervision
Supervision is intermittent to infrequent depending on experience. Moderate to high level of independent judgment and discretion related to areas of specialization. May provide guidance to less experienced team members to resolve or escalate high-complexity issues. Average monthly pipeline is 14 loans. Travel: 0% Requirements
Physical: Work is primarily sedentary; mobility in an office setting. Manual Dexterity: Frequent use of computer keyboard and mouse. Audio/Visual: Ability to interpret sounds and information visually and aurally in a standard office environment. Environmental: Office environment with no substantial exposure to adverse conditions. Guild offers a pleasant work environment, competitive compensation and an excellent benefits package, including medical, dental, vision, life insurance, AD&D, LTD and 401(k) with employer match. Guild Mortgage Company is an Equal Opportunity Employer. This position offers eligibility for incentive compensation. Compensation is influenced by factors including local and federal minimum wage requirements, education, experience, and geography. Note: This job description does not preclude Guild Mortgage from amending, interpreting, or altering terms of the job. Referrals increase your chances of interviewing at Guild Mortgage. Get notified about new Loan Clerk jobs in Chicago, IL.
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Join to apply for the
Loan Processor III
role at
Guild Mortgage . Guild Mortgage Company has been closing loans and opening doors since 1960. We are a mortgage banking firm dedicated to serving home owners/buyers with affordable home financing and professional service. Responsibilities
Process and pre-underwrite conventional, FHA, VA and Bond mortgage loans to ensure compliance with Company, secondary market investor, and government agency standards. Achieve production and quality metrics. Act as liaison between loan officer, borrower, underwriter and funding. Prepare and review loan files for submission completeness and compliance with underwriting and investor guidelines. Monitor the loan processing cycle to ensure timely closings. Communicate and coordinate resolutions of issues that delay loan closing timelines. Serve as a go-to subject matter expert/lead when Supervisor/Lead is not available. Become the contact for non-licensed activity once the loan is submitted to them. Monitor the lending process, identify, resolve, and communicate issues that could affect timely closure of loans. Analyze loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source of down payment funds, and review supporting documentation to identify potential fraud or misrepresentation. Identify potential issues and communicate them to the consumer and loan officer. Order and review third-party documentation (credit checks, title reports, appraisals, tax returns, verifications of employment/assets, etc.) to identify and address issues. Stay current with federal, state regulations, policies and industry trends. Check ratios and verify accuracy of AUS findings and program applicability. Review and verify documentation integrity to ensure alignment with findings, completeness and compliance; submit loan file to underwriting for approval. Identify qualifying/program issues prior to submission to Underwriting and restructure loan as necessary. Provide options within guidelines and recommend borrower qualifications for suitable programs. Update and verify data input into systems. Verify compliance with Company standards, federal and agency regulations, and applicable state/local regulations. Obtain and verify clearance of underwriting conditions and prepare the file for submission to Closing. Order generation of loan documents. Coach and guide less experienced Processors as needed. Use and modify templates to compose professional correspondence and emails. Provide status updates to Loan Officers and/or borrowers. Qualifications
High school diploma or equivalent required; college courses/technical training related to Business, Finance/Accounting, Legal, or related field preferred. Five or more years’ experience as a Loan Processor, preferably processing conventional and FHA loans, with at least two years of VA and Bond mortgage loan processing experience. Ability to build strong relationships with loan officers, production, underwriting, closing and other partners. Expert knowledge of mortgage lending processes and regulatory requirements for conventional, FHA, VA and Bond loans. Expert knowledge of loan programs, guidelines, conditions for approval, and investor-specific guidelines. Expert knowledge in new construction documentation and condominium projects. Expert knowledge of valid documentation for processing mortgage applications (e.g., complex tax returns, financial statements, verifications of income and deposits). Sound judgment and critical thinking to evaluate facts, consider downstream impact and risk. Ability to prioritize multiple tasks in a deadline-driven environment with a strong sense of urgency. Excellent customer service and communication skills (verbal and written). Intermediate math skills. Strong detail orientation and highly organized. Experience with internal data entry systems, Microsoft Word, Excel and PDF/document retention programs. Supervision
Supervision is intermittent to infrequent depending on experience. Moderate to high level of independent judgment and discretion related to areas of specialization. May provide guidance to less experienced team members to resolve or escalate high-complexity issues. Average monthly pipeline is 14 loans. Travel: 0% Requirements
Physical: Work is primarily sedentary; mobility in an office setting. Manual Dexterity: Frequent use of computer keyboard and mouse. Audio/Visual: Ability to interpret sounds and information visually and aurally in a standard office environment. Environmental: Office environment with no substantial exposure to adverse conditions. Guild offers a pleasant work environment, competitive compensation and an excellent benefits package, including medical, dental, vision, life insurance, AD&D, LTD and 401(k) with employer match. Guild Mortgage Company is an Equal Opportunity Employer. This position offers eligibility for incentive compensation. Compensation is influenced by factors including local and federal minimum wage requirements, education, experience, and geography. Note: This job description does not preclude Guild Mortgage from amending, interpreting, or altering terms of the job. Referrals increase your chances of interviewing at Guild Mortgage. Get notified about new Loan Clerk jobs in Chicago, IL.
#J-18808-Ljbffr