Rapid Mortgage

Job Role: Loan Processor (Rapid Division)

Reports to: Processing Manager

Rapid Mortgage Company a leading financial services company dedicated to providing exceptional lending solutions to our clients. We are seeking a detail-oriented and experienced Loan Processor to join our team.

Overview The Loan Processor is responsible for efficiently clearing all underwriting conditions while maintaining a high level of communication and organization. This role demands strong interpersonal skills, a team-oriented mindset, and the ability to manage a high-volume pipeline of 25 or more files monthly, ensuring an accurate and timely closing process.

Key Responsibilities

  • File Review: Thoroughly review loan files upon receipt from Underwriting. Generate and deliver an initial needs list to borrower within 24-48 hours of conditional approval.
  • Borrower Communication: Conduct a "Welcome Call" within 24 hours of receiving the conditional approval to explain outstanding conditions and next steps. Maintain ongoing borrower contact every 48 hours throughout processing.
  • Condition Management: Immediately address all actionable underwriting conditions. Delegate appropriate tasks to the Processing Assistant and manage timely condition follow-up and resolution.
  • Redisclose Management: Monitor daily alerts and complete redisclosures promptly and accurately according to regulatory and company guidelines.
  • Pipeline Management: Prepare for and actively participate in weekly pipeline review calls with Loan Officers, updates on loan progress, outstanding issues, and projected closing timelines.
  • Internal Collaboration: Work closely with Underwriting, Processing Management, and other internal teams to troubleshoot and resolve loan issues to facilitate smooth and timely closings.
  • Appraisal and Title Coordination: Order and track appraisal corrections, final inspections, and work directly with title companies and insurance providers to clear title and policy issues.
  • Quality Control (QC): Respond immediately to any QC findings or conditions to ensure compliance with internal and investor standards.
  • Closing Coordination: Collaborate with the Funding Team to deliver the signed Closing Disclosure (CD) in a timely manner, ensuring accurate cash-to-close figures and addressing any final changes.

Service Level Expectations

  • Welcome Call & Needs List: Completed within 24-48 hours of receiving Conditional Approval.
  • Client Follow-up: Contact borrowers at least every 48 hours.
  • Final Underwriting Submission: Submit clean files for final underwriting no later than 4 business days prior to the scheduled closing date.

Qualifications

  • 3+ years of mortgage processing experience required.
  • Proficiency with FHA, VA, USDA, Fannie Mae and Freddie Mac guidelines.
  • Ability to independently run AUS systems: DU, LP and GUS.
  • Minimum 1 year of experience with Encompass LOS required.
  • Strong understanding with TRID requirements.
  • Working knowledge of Down Payment Assistance (DPA) programs required.
  • Proficiency with Microsoft Office Suite.
  • Strong organizational skills, attention to detail and ability to manage a high-volume pipeline.
  • Positive attitude, high integrity and strong work ethic.
  • Ability to meet deadlines while exercising sound judgement and decision-making skills.

Benefits:

  • Competitive salary
  • Health, dental, and vision insurance
  • Life insurance and LTD
  • Retirement plan
  • Paid time off and holidays
  • Opportunities for career development and advancement

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