Job Profile Summary: The Loan Processor provides support to the lending areas by reviewing the accuracy of mortgage and consumer loans from conditional approval to closing.
Depth & Scope:
· Provides support to customers, branches, and lending staff as needed
· May assist in training of Loan Processor I and II
· Processes more complex loans such as self-employed income, CEMA, condos and co-ops, Jumbo and Wealth
· Provides support to customers, branches and lending staff as needed
· Follow all regulations and policies appropriate to lending
· Documents all interactions on the loan transaction and is responsible for documenting communications with interested parties.
· Owns borrower communication on loan file from conditional approval to closing
· May order or facilitate ordering for Third -Party needs, responsible for follow up and receipt of HOI, title, 4506T, payoffs, written verifications, subordinations etc
· Reviews all required documents, such as, borrower documents, D/U & LP findings, title and HOI for submission
· Validate all documents required by underwriting are present, accurately indexed and meet the stated underwriter requirements
· Ensure all data fields required by underwriting are complete
· Resolve 3rd party conditions on the loan
· Interact with vendors providing service on the loan transaction, obtain necessary documentation including Home-Owners Insurance providers, Title companies, Home-Owners Associations
· Ensure all services required for the loan transaction are ordered timely
· Document all interactions on the loan transaction
· Process complex loans such as self-employed income, CEMA, condos and co-ops, Government, Right-Step, Jumbo and Wealth
· Advanced system industry and process knowledge
· May coach and mentor junior processes
· May assist junior processors in processing loans
Education & Experience:
· High school diploma or GED
· 3-5 years loan documentation experience
· Knowledge of Bank loan products and policies
· Knowledge of lending software
· Detail-oriented with ability to multitask
· Ability to handle heavy workload and meet stringent deadlines
· Excellent oral and written communication skills, with ability to interact effectively with all customers, both internal and external
· Solid knowledge and understanding of states regulations
· PC skills
Ability to work independently
About Cognizant:
Cognizant (Nasdaq: CTSH) is an AI Builder and technology services provider, bridging the gap between AI investment and enterprise value by building full-stack AI solutions for our clients. Our deep industry, process and engineering expertise enables us to build an organization’s unique context into technology systems that amplify human potential, drive tangible outcomes and keep global enterprises ahead in a fast-changing world. See how at cognizant.ai or @cognizant.
Additional employment information
Compensation information is accurate as of the date of this posting. Cognizant reserves the right to modify this information at any time, subject to applicable law.
Applicants may be required to attend interviews in person or by video conference. In addition, candidates may be required to present their current state or government issued ID during each interview.
Cognizant is an equal opportunity employer. Your application and candidacy will not be considered based on race, color, sex, religion, creed, sexual orientation, gender identity, national origin, disability, genetic information, pregnancy, veteran status or any other characteristic protected by federal, state or local laws.
If you have a disability that requires reasonable accommodation to search for a job opening or submit an application, please email [email protected] with your request and contact information.
