Loan Processor II

Guild Mortgage Company; Illinois; On-site; USD 28,000 - 41,000; Full time

Benefits offered by this job

Medical, dental, vision

401(k) with employer match

Life insurance

AD&D

Job summary

Guild Mortgage Company in the Chicago area is seeking an experienced Loan Processor to manage residential mortgage loans from submission to closing. You will liaise with loan officers, borrowers, underwriters and funding teams to ensure complete submissions and compliance with investor guidelines.

The role emphasizes timely processing, data accuracy, and proactive communication to resolve issues and keep closings on schedule.

Qualifications

• High school diploma or equivalent required; college courses/technical training related to Business, Finance/Accounting, Legal, or related field is preferred.
• Two+ years’ experience as a Loan Processor processing conventional loans, with at least one year FHA/VA experience.
• Ability to build strong relationships with loan officers, production, underwriting, closing and other partners.
• Detailed knowledge of mortgage lending processes and regulatory guidelines for conventional and FHA/VA loans.
• Knowledge of valid documentation for processing mortgage applications (tax returns, financial statements, etc.).
• Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
• Excellent customer service and communication skills in verbal and written form.
• Strong detail orientation and organizational skills.
• Experience using internal data entry systems, Microsoft Word, Excel and PDF retention programs.

Responsibilities

• Become the point of contact for non-licensed activity after submission.
• Monitor lending process and resolve issues affecting timely loan closure.
• Identify issues and communicate with consumers and loan officers.
• Request and review supporting documentation within required timeframes.
• Order and review third-party documentation (credit checks, title reports, appraisals, tax returns, etc.).
• Check ratios and verify AUS findings and program applicability.
• Verify documentation integrity and submit file to underwriting for approval.
• Provide options within guidelines and recommend suitable programs when possible.
• Update data input into the system and ensure accuracy.
• Ensure compliance with company standards and federal/state regulations.
• Obtain underwriting conditions and prepare the file for closing.
• Order generation of loan documents and prepare professional correspondence.
• Provide status updates to Loan Officers and borrowers.

Skills

Verbal communication

Written communication

Customer service

Time management

Education

High School or better

Tools

Microsoft Word

Excel

PDF retention

Job description

WFHIL1 - Chicago IL
See Home Address
WFHIL1 - Chicago, IL 60657, USA

WFHIL1 - Chicago IL
See Home Address
WFHIL1 - Chicago, IL 60657, USA

Guild Mortgage Company, closing loans and opening doors since 1960. As a mortgage banking firm, we are dedicated to serving the homeowner/buyer. Our goal is to provide affordable home financing for our customers, utilizing the best terms available while providing a level of professionalism and service unsurpassed in the lending industry.

Position Summary

Process residential mortgage loans. Achieve production and quality metrics. Liaison between loan officer, borrower, underwriter and funding. Prepare and review loan file to ensure completeness of submission and supporting documents, as well as compliance with underwriting and investor guidelines. Monitor overall loan processing cycle time to ensure the loan closes on time. Communicate and coordinate the resolution of issues that delay loan closing timeline.

Essential Functions

• The processor is to become the contact for non-licensed activity once the loan is submitted to them.
• Monitor the overall lending process, and identify, resolve, and communicate issues that could impact timely closure of loans.
• Identify potential issues and communicate to consumer and loan officer.
• Request supporting documentation from borrower within required timeframes.
• Order and review all third-party documentation, including credit checks, title reports, appraisals, tax returns, verifications of employment/assets, etc. to identify and address potential issues.
• Check ratios and verify accuracy of AUS findings and program applicability.
• Review and verify documentation integrity to ensure it aligns with findings, completeness and compliance, and submit loan file to underwriting for approval.
• Identify qualifying/program issues prior to submission to Underwriting.
• Provide options within guidelines and makes recommendations if borrowers may qualify for suitable programs.
• Update and verify accuracy of data input into system.
• Verify compliance with Company standards, federal and agency regulations, standards, and guidelines, as well as any applicable state-specific and or local regulations, ordinances, etc.
• Stay current with federal and state regulations and industry guidelines.
• Obtain and verify clearance of all underwriting conditions and prepare the file for submission to Closing.
• Order generation of loan documents.
• 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 is preferred.
• Total recent work experience includes two or more years’ experience as a Loan Processor processing conventional loan, with at least one year experience in processing FHA or VA loans.
• Ability to build strong relationships with loan officers, production, underwriting, closing and other internal and external partners.
• Detailed knowledge of overall mortgage lending internal processes and control, as well as federal, state, and regulatory requirements/guidelines related to consumer mortgage lending for conventional and FHA or VA loans.
• Detailed knowledge of conventional and FHA or VA loans, including various product/program guidelines, necessary conditions for approval, and investor specific guidelines.
• Detailed knowledge of valid documentation related to processing consumer mortgage applications (e.g., tax returns, financial statements and records, verification of income and deposits, etc.).
• Ability to prioritize multiple tasks in a deadline-driven environment, strong sense of urgency and responsiveness.
• Excellent customer service, interpersonal, verbal and written communication skills
• Strong verbal and written communication skills.
• Strong detail orientation and highly organized.
• Prior experience using internal data entry systems, Microsoft Word, Excel and PDF/Document Retention programs.

Company Required Skills

• Excellent verbal and written communication skills required.
• Highly organized and detail-oriented; ability to work in a fast-paced, metrics-driven environment required.
• Proficiency in Microsoft Office Suite, Word, Excel, Wiki, collaborative cloud-based programs, and third-party software applications required.
• Commitment to company values.
• Customer Service - Proactive attention to each person
• Integrity - Do and say what's right
• Respect - Treat others with dignity
• Collaboration - Listen and work together
• Learning - Seek knowledge and strive for improvement
• Excellence – Deliver the unexpected

Supervision

• Depending on experience, work with moderate to intermittent guidance and supervision
• Moderate level of independent judgment and discretion related to area(s) of specialization
• Receive guidance to resolve/escalate issues of high complexity
• Average monthly pipeline is 14 loans.
• Travel: 0%

Requirements

• Physical: Work is primarily sedentary; occasionally walks and/or stands.

Manual Dexterity: Frequent use of computer keyboard and mouse.

Audio/Visual: Ability to accurately interpret sounds and associated meanings at a volume consistent with interpersonal conversation. Regularly required to accurately perceive, distinguish and interpret information received visually and through audio; e.g., words, numbers and other data broadcasted aloud/viewed on a screen, as well as print and other media.

Statement
This document describes the general content and identifies essential functions and requirements for performing this position. It is not intended to be an exhaustive statement of duties, responsibilities, or requirements. Guild Mortgage complies with the ADA and considers reasonable accommodation measures that may be necessary for eligible applicants/employees to perform essential job functions. Employment with Guild Mortgage is “at-will,” meaning that either the Company or an employee may terminate the employment relationship at any time, with or without cause, advance notice or stated justification.

Guild offers a pleasant work environment, competitive compensation and 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.

Target Salary Range: $19.58 - $29.37
This position offers eligibility for incentive compensation.

Compensation at Guild is influenced by a wide array of factors including but not limited to local and federal minimum wage requirements, education, level of experience, and applicant’s geographical location.

Qualifications

Skills

Behaviors

:

Motivations

:

Education

Required

High School or better.

Experience

Required

2 years:

2 years:

Processing Loans: 2 + years for Conventional Loans, 1 + years for FHA and VA Loans

Preferred

Prior experience using internal data entry systems, Microsoft Word, Excel and PDF/Document Retention programs.

Licenses & Certifications

Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.