Job Description:Processor – OffshoreLevel 3Process: 1 st Interview Recruiter2 nd Interview Hiring Manager/Director (Video)Department: DRMSInterview Manager/Director:Revision Date: 10/9/2024Test: Employee Personality, Cognitive Aptitude, Computer LiteracyDigital Risk’s mission to Make Mortgages Safe relies on the perfect blending of human experience and state-of-the-art technology to serve its workforce and clients.Digital Risk’s 1,500+ team members make us one of the largest mortgage outsource providers in the U.S., supplying appraisal and mortgage processing, underwriting, closing, and quality control to the largest banks and loan originators.Position Overview:The Processor will be responsible for performing a variety of loan documentation duties on complex mortgage loan packages and ensure compliance with policies and procedures for loan products. Candidates must possess a strong sense of urgency with an ability to work in a team environment, maintaining excellent organizational, communication, and PC skills.Key Responsibilities: Review Mortgage Loan Applications : Ensure all necessary fields are completed and documentation is in order Verify Customer Information : Check the accuracy of customers’ income, asset and credit data and identify any discrepancies Gather Documentation : Coordinate with mortgage partners to collect missing documents or additional information required for loan processing and underwriting 3 rd Party Services and Verifications : Request and obtain all third-party documentation and request necessary verifications, including but not limited to:o Appraisal Productso Title Report and Closing Serviceso Flood Certificate and Flood Insuranceo Payoffs and Subordinationso Homeowner’s Insuranceo Condominium/HOA Documentso Translationso Credit Supplementso Mortgage Insurance Certificateo Tax Transcriptso Verifications of Income, Employment, Assets, Mortgage/Rent Prepare and Process Mortgage Loan Files : Collect, organize, analyze and prepare mortgage loan files for underwriting and closingo Review and understand loan conditions and interpret policies and guidelines while analyzing mortgage loan documentationo Verify conditions of approval which includes customer income / asset documentationo Calculate income, analyze financial statements, validate all liabilities and accurately input all appropriate information into client systemso Resolve routine title issues including vesting issues, child support liens, judgment liens, mechanic liens and undisclosed liens and reconveyances Pipeline Management : Keep track of the loan process and provide updates to all relevant loan partieso Maintain daily workflow prioritization to ensure pipeline management meets required service level touchpoints and closing dateso Adhere to standards to ensure all timeframes and compliance requirements are being met Customer Service : Provide excellent customer service to internal and external clients by demonstrating expertise, thoroughness, thoughtfulness, politeness and enthusiasm.o Communicate expectations, requirements, and program details though established communication standards to keep all relevant parties informed of loan statuso Ensure customer service surveys maintain the rating level designated by managementRequired Skills:· Attention to Detail : Ensure all information is accurate and complete· Organizational Skills : Manage multiple loan files and tasks and be able to adapt to constant modification of the workflow· Communication Skills : Effectively interact with all relevant parties to the loan transaction· Time Management Skills : Able to prioritize multiple competing tasks and manage time effectively in a fast-paced environment· Analytical Skills : Able to interpret policies and guidelines and problem solve while analyzing customer and loan documentation· Computer Proficiency : Use mortgage processing software and customer management systems in a paperless environmentRequired Experience· Minimum 2-4 years Current Mortgage Loan Processing Experience: Includes extensive knowledge of mortgage processing and understanding of entire mortgage loan life cycle: processing, underwriting and closing· Minimum 2 years Credit Underwriting Knowledge : Understanding of credit underwriting guidelines for FHLMC and FNMA for both purchase and refinancesTypical Work Environment: Office Setting : 100% of the work opportunities are onsite, and in-person attendance is required. Must be able to work in a fast-paced, potentially stressful environment Team Collaboration : Regular interaction with management, production teams, and other relevant team members Work Hours : Must be able to work U.S. business hours. Must be available to work outside of normal business hours when necessaryCareer Path : With experience, a Processor role can advance to senior processor, quality control and underwriting rolesSkills:PRIMARY COMPETENCY : Originations PRIMARY SKILL : Originations-Processor PRIMARY SKILL PERCENTAGE : 100About Company:Mphasis is a leading IT solutions provider, offering Applications, Business Process Outsourcing (BPO) and Infrastructure services globally through a combination of technology knowhow, domain and process expertise. The accolades we have been garnering can be attributed to our undeterred focus in delivering quality solutions across verticals that meet the challenging requirements of our esteemed customers. We have been recently felicitated by the economic times as the most distinguished digital company 2015. We have also been ranked 29 of 100 largest financial technology vendors by American Banker and BAI in the FinTech Forward Top 100 rankings.
