About this role
The Loan Processor serves as the primary liaison for borrowers and internal teams to move mortgage applications efficiently through pre-approval, processing, and closing. The role emphasizes accurate documentation review and Encompass updates while ensuring loans close on time.
Key Responsibilities
- Liaise between borrowers and mortgage stakeholders
- Contact and review applications within 24 hours after LO appointment
- Review documents within 24 hours for discrepancies and update Encompass
- Ensure pre-approvals and supplement letters with required forms
- Meet closing deadlines and handle payment scenario requests
Technical Overview
This is an operations-focused mortgage processing role using Encompass to manage application status and document tracking. The technical emphasis is on structured document verification, pre-approval parameter communication, and timely updates in the mortgage workflow.
Ideal Candidate
The ideal candidate is a Loan Processor who can accurately manage mortgage application setup through contract-to-close while communicating effectively with borrowers, loan officers, underwriters, and third parties. They have strong document review and verification skills using Encompass, meet tight closing deadlines, and can run pre-approvals including required addendums and forms.
Must-Have Skills
Accurately setting up new purchase applicationsIssuing pre-approval lettersProcessing and disclosing loansOverseeing loans from contract to closeOperate within Eastern Standard Time Zone working hours
Tools & Platforms
Encompass
Required Skills
Set up new purchase applicationsissue pre-approval lettersprocess and disclose loansoversee success from contract to closereview loan applications and documentscommunicate pre-approval parametersrequest and review cash credit income qualificationsreview documentation within 24 hoursdiscrepancy/omission detectionverified income calculationasset verificationEncompass updatestrack requested documents in Encompasscommunicate red flagsmeet deadlines (loan documents to title 3 days before closing)handle payment scenario requestspre-approve borrowersPre-Approval AddendumAll About You formrush pre-approval
Hard Skills
Set up new purchase applicationsIssue pre-approval lettersProcess and disclose loansOversee loan success from contract to closeLiaison between clients and internal teamsReview loan applications and documentsCommunicate pre-approval parameters to borrowersRequest and review cashcreditand income qualificationsReview documentation within 24 hours of receipt for discrepanciesVerify income calculationAsset verificationEncompass updates based on verified informationTrack requested documents in EncompassIdentify red flags or major potential issuesMeet deadlines (loan documents to title 3 days before closing)Handle payment scenario requestsPre-approve borrowersSupplement pre-approval letter with pertinent documentsPre-Approval AddendumAll About You formRush pre-approval
Soft Skills
Client communicationLiaison managementResponsivenessAttention to detailDeadline managementMultitasking across multiple assignments/projectsClear escalation communicationProfessional collaboration with loan originatorsunderwritersand third parties
Keywords for Your Resume
Loan Processorpre-approval letterspre-approve borrowerspurchase applicationsprocessing and disclosing loanscontract to closeEncompassloan documentstitlecashcreditincome qualificationsasset verificationred flagsthird partiesUnderwritersLoan OfficersBranch ManagerBranch Sales ManagerRealtor partnerpayment scenario requestsPre-Approval AddendumAll About You formEastern Standard Timecash credit incomeloan documents to title
Deal Breakers
Must operate within Eastern Standard Time Zone working hours, Ability to accurately use Encompass to track documents and update information, Ability to process and disclose loans from contract to close
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