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Mortgage Loan Processor (ALCOVA Mortgage)
Ref No.: 16-07611
Location: Raleigh, North Carolina
ALCOVA Mortgage is seeking qualified applicants for a full-time Processor position in the Raleigh, North Carolina area. The Processor plays an integral role in the mortgage origination loan process within ALCOVA Mortgage. S/he is responsible for reviewing and validating all information presented on the Loan Application by the borrower. Processors work closely with Loan Officers and borrowers to ensure loan applications are thoroughly completed and adhere to Company, investor, and industry established standards. The Processor must have excellent 'people skills' and be driven by the desire to make sure every client has a positive experience with ALCOVA Mortgage.
Duties and Responsibilities:
  • Must be able to handle all areas of mortgage loan processing, including: analyzing income and asset documentation, review of appraisals, sales contracts and titles, submitting files to an Automated Underwriting System, processing loans in Encompass (loan origination software system) and ordering mortgage insurance.
  • Collects documentation as required to support information provided on the loan application.
  • Ensures accuracy and completeness of all files and submits completed loan files to the Underwriting Department.
  • Thoroughly reviews and resolves any and all documentation or factual discrepancies prior to submission of the loan to Underwriting.
  • Knowledge of regulatory and compliance guidelines and required state and federal disclosures.
  • Reviews file documentation to ensure all necessary items have been requested (e.g., purchase contracts, bankruptcy papers, trust documents, etc.).
  • Orders third party reports including credit reports, escrow instructions, preliminary title reports and appraisals.
  • Maintains dialogue with Loan Officers, Branch Managers, lenders, escrow and title companies, and other parties as needed.
  • Must maintain mortgage loan information confidentiality.
  • May manage a multi-state loan pipeline of loans.
  • Communicates to VP of Processing if unable to achieve a timeline or to resolve an error.
  • Escalates any suspected fraudulent files to Compliance Team.
  • Manages key dates, for example, lock expiration, contingency date, contract date, credit doc expiration, and all compliance related dates.
  • Partners with Loan Officers and Underwriters on difficult and/or exception transactions.
  • Assists Quality Control, Closing, and Post-Closing Departments on loan files, when necessary.
Minimum Requirements and Qualifications:
  • Relevant experience is a MUST. Minimum of at least one year of mortgage processing experience is required.
  • Working knowledge of Encompass, Desktop Underwriter, Loan Prospector, Microsoft Office (Word, Excel, and Outlook), and Internet applications.
  • Ability to adapt to changing environments, situations, and job responsibilities.
  • Capacity to work in a team-orientated environment from a remote workplace.
  • Ability to prioritize complex diversified responsibilities and multi-task in a fast-paced environment.
  • Strong organizational and time management skills to balance workload and meet deadlines.
  • Must be willing to assist teammates and build strong relationships with Loan Officers and Operations team members to achieve closing goals.
  • Excellent interpersonal and communication skills (verbal and written).
  • Self-starting, self-reliant, highly motivated and dependable.
  • Technologically savvy and comfortable learning new computer systems and programs.
  • Working knowledge of state and federal lending guidelines and a thorough understanding of the processes and procedures.
  • Knowledge of Client, Freddie Mac, FHA, USDA, VA, and other investor guidelines.
  • Working knowledge of the VA Portal.
  • Ability to operate under immense pressure and manage stress well.
  • Successful completion of all Company required training for the position.
EOE/M/F/D/V
Job Type: Full-time
Job Location:
  • Raleigh, NC
Required education:
  • High school or equivalent
Required experience:
  • mortgage processing: 1 year
ControlID: 14.234.89 SHR