Loan Processor III, Specialty Loans

Guild-Mortgage-Company-LL; Frankfort (IL); On-site; USD 53,000 - 79,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

Life insurance

AD&D

LTD

401(k) match

Competitive compensation

Job summary

Guild Mortgage Company seeks an experienced Mortgage Processor to handle conventional, FHA, VA and Bond loans, including jumbo and renovation, ensuring compliance with investor standards and government guidelines. You will liaise with loan officers, borrowers, and underwriters to maintain timely closings and accurate documentation.

The role requires strong communication, organization, and attention to detail, with responsibility to monitor the end-to-end processing cycle and resolve issues

Qualifications

• High school diploma or equivalent; business/finance training preferred.
• Total recent work experience includes multiple years as a Loan Processor.
• Expert knowledge of mortgage lending processes and regulatory guidelines.
• Ability to coordinate with loan officers, underwriters, and funding teams.

Responsibilities

• Process and underwrite specialty loans (jumbo, renovation) and conventional FHA/VA/Bond loans.
• Monitor loan processing cycle time and ensure on-time closings.
• Coordinate with loan officers, borrowers, underwriters, and funding.
• Review documents, verify compliance, and obtain underwriting conditions.
• Order and review third-party documentation and perform quality checks.

Skills

Loan processing

Communication skills

Organizational skills

Relationship building

Attention to detail

Education

High school diploma

Finance/Accounting training

Tools

Microsoft Word

Microsoft Excel

PDF/Document Retention

Internal data entry systems

Wiki & cloud tools

Job description

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 and pre-underwrite specialty loans such as jumbo and renovation as well as conventional, FHA, VA and Bond mortgage loans to ensure compliance with Company, secondary market investor, and government agency standards. 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. “Go to” subject matter expert/lead when Supervisor/Lead is not available.

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.
• Analyze loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of down payment funds and examine supporting documentation to identify potential fraud or misrepresentation.
• Identify potential issues and communicate to consumer and loan officer.
• 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.
• Stay current with federal, state regulations, policies and industry trends.
• 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, and re-structure loan as necessary.
• 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.
• Obtain and verify clearance of all underwriting conditions and prepare the file for submission to Closing.
• Order generation of loan documents.
• Coach and provide guidance to less experienced Processors as needed.
• 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 five or more years’ experience as a Loan Processor, preferably processing conventional and FHA loans along with at least two years of experience processing VA and Bond mortgage loans.
• Ability to build strong relationships with loan officers, production, underwriting, closing and other internal and external partners.
• Expert 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, FHA, VA and Bond mortgage loans.
• Expert knowledge of conventional, FHA, VA and Bond mortgage loans, including various product/program guidelines, necessary conditions for approval, and investor specific guidelines.
• Expert knowledge in new construction documentation and condominium projects.
• Expert knowledge of valid documentation related to processing consumer mortgage applications (e.g., complex tax returns, financial statements and records, verification of income and deposits, etc.).
• Sound judgment, ability to think critically, including the ability to evaluate facts and data to draw conclusions, determine the downstream impact of decisions and associated risks.
• 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, supervision is intermittent to infrequent
• Depending on experience moderate to high level of independent judgment and discretion related to area(s) of specialization
• May provide guidance to less experienced team members to resolve/escalate issues of high complexity
• Exercise sound judgment in executing core job responsibilities
• Average monthly pipeline is 14 loans.
• Travel: 0%

Requirements

Physical: Work is primarily sedentary; mobility in an office setting.

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: $25.48 - $38.22
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

Education

Required

High School or better.

Experience

Required

Expert knowledge of valid documentation related to processing consumer mortgage applications

Expert knowledge in new construction documentation and condominium projects.

Expert knowledge of conventional, FHA, VA and Bond mortgage loans, including various product/program guidelines, necessary conditions for approval, and investor specific guidelines

Expert knowledge of overall mortgage lending processes as well as state and federal regulatory guidelines.

8 years:

Loan Processor experience

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.