Job Description
Job Profile Summary: The Loan Processor provides support to the lending areas by reviewing the accuracy of consumer and mortgage loans from conditional approval to closing.
Depth & Scope
- Reviews all required documents, such as, borrower documents, D/U & LP findings, title and HOI for submission
- Provides support to customers, branches and lending staff as needed
- Follow all regulations and policies appropriate to lending
- Documents all interactions on the loan transaction and is responsible for documenting communications with interested parties.
- Owns borrower communication on loan file from conditional approval to closing.
- May order or facilitate ordering for Third -Party needs, responsible for follow up and receipt of HOI, title, 4506T, payoffs, written verifications, subordinations etc
- Validate all documents required by underwriting are present, accurately indexed and meet the stated underwriter requirements
- Ensure all data fields required by underwriting are complete
- Resolve 3rd party conditions on the loan
- Interact with vendors providing service on the loan transaction, obtain necessary documentation including Home-Owners Insurance providers, Title companies, Home-Owners Associations
- Ensure all services required for the loan transaction are ordered timely
- Document all interactions on the loan transaction
- Process the least complex loans typically Express Agency loans, Condo Pud or Home Equity loans
- May assist in training the Loan Processor I
- Processes some complex loans such as CEMA, condos and co-ops
- Basic system, industry and process knowledge
- High School diploma or GED required
- 2+ years loan documentation experience
- Detail oriented
- Working knowledge of Bank loan products and policies
- Knowledge of lending software preferred
- Proven ability to handle heavy workload and meet stringent deadlines
- Solid oral and written communication skills, with ability to interact effectively with all customers, both internal and external
- Working knowledge and understanding of regulations from different states
- Strong PC skills
Job Details
| Role Level: | Not Applicable | Work Type: | Full-Time |
|---|---|---|---|
| Country: | India | City: | Chennai ,Tamil Nadu |
| Company Website: | https://www.cognizant.com | Job Function: | Finance |
| Company Industry/ Sector: |
IT Services and IT Consulting and Business Consulting and Services | ||
What We Offer
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Job Snapshot
