Loan Processor - Housing Trust
ID: 101792
Application Deadline: 10/16/2024
Category: Real Estate
Company: Housing Trust Silicon Valley
Job Locations: US-CA-San Jose
At a glance:
Join Housing Trust's mission-driven Homebuyer Programs Team as a Loan Processor and play a vital role in transforming lives through affordable housing! Based in San Jose, you'll be at the forefront of processing loan applications from start to finish, ensuring every applicant gets one step closer to their dream of homeownership. As a 100% self-sufficient nonprofit, Housing Trust is committed to creating inclusive, affordable housing solutions across the Bay Area, having already helped over 46,000 residents. This role not only offers a dynamic, collaborative environment that champions growth and work-life balance but also allows you to directly contribute to a powerful mission of building stronger communities.
Description: What you'll be doing
The Loan Processor plays a critical role in the mortgage lending process, handling the processing of eligibility and purchase loan applications from start to finish. This position involves guiding applicants through each stage, ensuring compliance with underwriting guidelines, verifying essential documents, and preparing all necessary loan and closing documentation. The Loan Processor collaborates closely with underwriters, homebuyer education specialists, and title companies to facilitate timely and accurate loan processing, while also providing exceptional customer service and maintaining precise records. The position reports to the Manager of Homebuyer Programs.
KEY RESPONSIBILITIES
- Process Eligibility & Purchase Loan Applications:
- Guide applicants through application submission, assisting with disclosures, document uploads, and communication.
- Collaborate with homebuyer education specialists and underwriters to ensure applications meet guidelines.
- Organize documents in system for underwriting review; initiate contact with applicants and underwriters.
- File management: Open secured shared folders for applicants. Share files as required and enter data into Home Keeper (Salesforce).
- Verify necessary documents and information, including LDP, SDN, SAM/GSA verifications, employment verification, and senior lender's loan documents.
- Prepare Loan Documents:
- Draft determination letters, disclosures, loan documents, and funding instructions.
- Schedule pre-purchase reviews and counseling sessions with applicants, notaries, and loan officers.
- Ensure a seamless application process by closely collaborating with the Education Specialist and Underwriters.
- Facilitate Closing Actions:
- Coordinate with title companies and senior lenders; manage funding conditions for loans.
- Prepare funding requests for all loan programs.
- Monitor closed files for settlement statements, promissory notes, recorded deeds, and title policies.
- Finalize closed loan files, prepare for audit, and transfer appropriate files to the Asset Management department or for other necessary disposition.
Qualifications:
- High school diploma or higher and a minimum of three or more years of related experience in loan processing and underwriting of home mortgage loans.
- Knowledge of Regulatory Compliance of the following laws and related regulations, Truth in Lending Act, RESPA, fair lending laws (including ECOA, FHA & HMDA), FCRA, FTC Act and other Federal and State lending laws.
- Knowledge of FNMA, FHLC, FHA and VA guidelines.
- Familiarity with basic real estate and finance terms and concepts.
- Proficient in Microsoft Office, file management software (Box), and CRM software (Salesforce).
- Proven sales/relationship building, and customer service experience required.
- Strong writing, analytical and verbal communication skills.
- Proficiency in Spanish or Vietnamese desirable.
- Licensed and registered through the Nationwide Mortgage Licensing System, a plus.
- Highly skilled at collaborating across various levels of diversity.
- Embrace a work culture that celebrates creativity and innovation.
- Ability to respond quickly and effectively to changing demands while continually delivering high performance.
- Ability to exercise good judgment, conduct reasonableness tests, and issue quality decisions.
Housing Trust is an equal opportunity employer to all regardless of race, color, national origin, ancestry, sex, marital status, disability, religious or political affiliation, actual or perceived gender identity, age or sexual orientation. Housing Trust is committed to diversity, equity, and inclusion and our goal is to have a workforce (at all job levels) that is representative of the communities we serve.
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