Mortgage Loan Processor Job Description

October 12, 20110 Comments

Mortgage loan processor job profile and description

The mortgage loans processor has basically to process the documents and fulfill the other requirements involved in mortgaging. He or she has the responsibly to ensure the financial status of the client and has also to evaluate the application of the borrower to decide whether he is capable of repaying the loan. The job requires a lot of paperwork and documentation so it is necessary for the candidate to have the required knowledge to do the job.

Mortgage loan processor duties and responsibilities

The duties and responsibilities which a mortgage loan processor has to fulfill are as follows:

  • The primary duty is to collect all the required information about the applicant.
  • He or she has the responsibility to do all the paper work and forms required for the loan together
  • He or she needs to check the financial and credit history of the applicant to determine the financial status.
  • He or she has to check if all the information provided by the candidate is accurate
  • He or she has to help the clients as much as possible in filling the forms and applications required for mortgaging
  • He or she needs to do submit the papers for the approval of the undertaker after processing.

Mortgage loan processor skills and specifications

The candidate desiring to do the job of a mortgage loan processor should necessarily have the required skills and specifications which are as follows:

  • The candidate needs to have thorough and deep understanding about the rules and regulations regarding mortgaging.
  • He or she should be aware of all the terminology, detection of fraud and basics of real estate properly and effectively.
  • He or she should have required communication skills both verbally and written.
  • He or she should have the required customer service ethics and the basic computer skills
  • He or she should be able to maintain the confidentiality so needs to be honest.
  • He or she should have excellent mathematical skills so must have the accuracy.
  • He or she should have analytical and observation skills to detect fraud and wrongly submitted information properly.

Mortgage loan processor education and qualification

The education and qualifications required for a mortgage loan processor are:

  • The basic degree required for the job is a ¬†four year bachelors degree in business management and accounting

Mortgage loan processors salary

The salary of a mortgage loan processor varies between $25,000 and $40,000 per annum.

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