Mortgage Processor

About the Role

As a Mortgage Processor at Paramount Residential Mortgage Group Inc. (PRMG), your primary objective is to deliver exceptional service to borrowers, sales teams, and underwriting staff by efficiently processing loan applications aligned with company policies and procedures. PRMG fosters a supportive, family-like atmosphere with a casual yet professional environment that values work-life balance and personal growth opportunities.

Key Responsibilities

• Verify, compile, and enter updated information on mortgage loan applications accurately.
• Review residential loan files ensuring completeness and compliance with standards regarding loan type, amount, credit, assets, liabilities, and employment duration.
• Recommend denial or restructuring for loans not meeting established criteria.
• Execute Automated Underwriting System (AUS) runs upon confirming application accuracy and guideline compliance.
• Order necessary verifications including income, assets, credit, and liabilities to validate application data.
• Prepare and generate required loan application forms and disclosures for borrowers.
• Request title work, insurance, condominium documents, appraisals, and other property-related materials needed for loan approval.
• Conduct timely follow-ups on loan documentation such as title, insurance, appraisal, and borrower loan conditions.
• Report discrepancies in loan documentation to supervisor or Loan Originator.
• Submit loan application files for underwriting approval and communicate decisions via approval or denial letters.
• Forward approved files to closing departments and coordinate with closing agents or attorneys for settlement.
• Utilize all mandated checklists for underwriting and closing processes.
• Maintain accurate records and pipeline reports tracking the status of loans including new applications, approvals, cancellations, or denials.
• Effectively communicate with borrowers and Loan Originators regarding any missing or delayed documentation necessary for approval.
• Submit underwriting conditions promptly and oversee Junior Loan Processor duties, if applicable.

Required Qualifications and Experience

• Minimum of two years' experience in loan processing, or
• Completion of Xinnix Training for Processing combined with mentorship from a branch processor with at least two years of active experience.

Skills and Competencies

• Strong decision-making skills for resolving customer service issues.
• Independent problem-solving ability with a proactive approach.
• Attention to detail and ability to maintain confidentiality.
• Excellent interpersonal and communication capabilities.
• Efficient organizational skills to prioritize workload effectively.

Education

High School Diploma or equivalent required.

Additional Information

There is no travel requirement for this position. PRMG is committed to diversity and inclusion, assuring equal employment opportunities without discrimination based on race, color, religion, age, gender, sexual orientation, disability, or any other protected status.

Compensation

The salary range for this role is USD 40,000 to 80,000 per year.

Benefits

PRMG provides full-time employees and their dependents with comprehensive benefits including medical, dental, vision, life insurance, short- and long-term disability, Health Savings Account (HSA), Flexible Spending Account (FSA), and other offerings subject to eligibility. Enrollment in medical and other insurance plans occurs on the first of the month following hire. After 60 days, employees become eligible for the 401(k) program. Additionally, employees can apply to transfer within the company through internal job opportunities.