Mortgage loan processors work with financial institutions to help close home loans with clients. They spend most of their time working with clients, interviewing them and verifying details from their mortgage application. They also finalize all the documentation for the closing process.
In an effective mortgage loan processor job description, it’s essential to state the key requirements of the job. People in this position are required to have a high school diploma to be considered. There are companies that prefer to hire those with some college coursework in finance or business.
Training can be completed once a candidate is hired, but companies usually look for people with strong skills in math and excellent communication abilities. You can see more details about what kind of things to include in this type of job posting by reviewing the mortgage loan processor job description template in the space below.
Mortgage Loan Processor Job Summary
Do you want to be a part of an exciting and fast-paced field where there is opportunity for advancement? Our bank is seeking mortgage loan processors to help us in the booming real estate market. Your job would be to help our customers through the process of qualifying for a home loan by discussing terms with them, interviewing them about their finances and verifying their account details. Mortgage loan processors also provide an essential role in pushing loan packages through to the closing process. If you have a desire to start a career on the financial side of real estate, we can help you get there with our comprehensive job training.
- Review customer details from loan applications and crosscheck information to ensure it’s accurate and complete
- Ask potential borrowers questions about their financial past and habits and review their background as well as their personal information during the initial interview session
- Organize all loan documentation materials for each mortgage application, such as tax forms, bank statements, paycheck stubs and other information
- Ready all loan documentation for the mortgage closing process by writing letters, legal forms, agreements and finalization documents for the borrower
- Analyze a consumer’s past credit history by running credit checks, reviewing income, listing current financial obligations and checking employment details
- Discuss the status of a loan application with clients and indicate when more documentation is needed by contacting customers by phone or email
- Inform customers about the terms of an accepted loan and notify them about the interest rate, repayment options and closing costs
- Maintain an organized computerized filing system for loan customers and update client information about addresses and employers as it changes
Job Skills & Qualifications
- Completion of a high school diploma or GED program
- Top skills in mathematics and calculations
- Strong written and oral communication skills
- Dedication to delivering excellent service to customers
- College degree or coursework in business, finance or management
- Experience working in the lending industry
The final part of creating a well-written mortgage loan processor job description is figuring out how you will use it. Once you are happy with how your job posting sounds, you need to make a plan for publishing it.
Your potential new hires in this role may not necessarily have experience in the mortgage industry. Some current mortgage loan processors may be looking for a new opportunity in the industry, and in those cases, you can take advantage of attending job fairs for the financial sector or posting your job description on your social media or company website. A better idea to reach the most future new hires and inform more people about your job opening is to post to popular job boards across the internet. Using MightyRecruiter to help you post jobs for free can improve your publishing process exponentially.
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