"Rate is one of the nation’s top retail mortgage lenders, delivering a seamless, tech-driven experience that helps customers reach their homeownership and financial goals. Founded in 2000 and based in Chicago, Rate is licensed in all 50 states and D.C. and has helped over 2 million homeowners with a wide range of loan products, competitive rates and personalized service. With 5,000+ employees across 300+ offices and 12+ subsidiaries, Rate’s Loan Officers rank among the best in the country. From purchases and refinances to tapping into equity, Rate makes financing faster, simpler and less stressful. Our technology — including Same Day Mortgage, the Rate App, FlashClose℠, MyAccount and the Language Access Program — has earned recognition from HousingWire, Scotsman Guide, NerdWallet, the Chicago Tribune and Crain’s Chicago Business. Learn more at rate.com."
Job Profile:
Senior Processor
Job Description Summary:
We are committed to providing a competitive and equitable total rewards package. The compensation for this role is designed to attract, retain, and motivate top talent.
The expected base salary range for this position is $26.44- $31.25/hr.
Job Description:
The Senior Processor's primary focus is the swift transition from the VP sale to the UW submission, and plays an important role in the overall POD Flow of satisfying all outstanding UW conditions to obtain a "Clear to Close" loan. This role will process their own files as a Mortgage Consultant to satisfy investor and GR UW Guidelines, and communicate with the borrower and other interested parties to ensure the accuracy and completion of all file documentation and information to ensure a transparent loan process and timely submission to closing. The Senior Processor will also use their product knowledge and customer services skills to serve as a resource to the borrower and VPs and to facilitate and confirm the closing date and time with all parties. This position follows-up, restates expectations, and tracks important dates and orders all within the expected Time to Task.
Essential Duties and Responsibilities
Review loan applications for completeness and accuracy
Verify all documentation meets regulatory and company guidelines
Communicate with loan officers, lenders, underwriters, and clients to ensure timely processing
Calculate income, review credit reports, and analyze financial statements to assess borrower eligibility and loan feasibility
Disclose application package and all necessary initial disclosures based on RESPA requirements and timeframes; complete redisclosures when needed too
Collect and review all borrower supporting documentation and follow up with borrowers as necessary
Coordinate with third-party vendors, such as appraisers, title companies, and insurance providers, to facilitate timely and accurate processing of loans, and a smooth closing process
Organize files for complete and proper UW submission, anticipating all potential company and investor requirements, and submit files with the intent of Clear to Close
Manage a pipeline of loans efficiently from origination to funding
Provide guidance and support to junior processors and loan officers, assisting with training and mentoring as needed
Stay up-to-date on industry trends, regulations, and best practices related to mortgage lending and loan processing
Skills and Competencies
Competencies:
Minimum of 5 years of experience in mortgage loan processing, with a focus on conventional, FHA, VA, and USDA loans.
In-depth knowledge of mortgage industry loan products, credit analysis, and mortgage industry practices •Strong analytical skills and attention to detail, with the ability to accurately review and analyze complex financial documents.
Excellent communication and interpersonal skills, with the ability to effectively interact with clients and colleagues at all levels.
Self-motivated and driven toward achievement of goals
Proven track record of increasing sales and profitability within a region
Ability to build relationships, manage key stakeholder relationships, and influence others internally and externally
Strong interpersonal skills, with the ability to effectively communicate with individuals at all levels and from diverse backgrounds
Solutions-oriented and demonstrated ability to overcome challenges
Strong understanding of sales and pipeline management to maximize business potential
Comfortable with ambiguity
Strong business acumen and analytical capabilities
Experience working with key performance indicators and metrics, with an understanding of the behaviors that drive performance metrics
Ability to adapt to changing priorities and lead change management initiatives throughout the organization
Thrives in a fast-paced, complex organization
Strong negotiation skills with excellent understand of the company's value proposition
Additional Job Description Summary:
Rate is an Equal Opportunity Employer that welcomes and encourages all applicants to apply regardless of age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy or other reason protected by law.
The company offers a comprehensive benefits program to eligible employees, including eligibility to participate in a company-sponsored 401(k); vacation benefits; eligibility for medical, dental, vision, and prescription drug benefits; flexible benefits (e.g., healthcare and/or dependent day care flexible spending accounts); life insurance and death benefits; critical care insurance; personal accidental insurance; commuter benefits; pet insurance; certain time off and leave of absence benefits; well-being benefits (e.g., employee assistance program); and other supplemental benefits (e.g. legal planning assistance; identity theft protection; pet insurance; wellness resources).
The company offers a comprehensive benefits program to eligible employees, including eligibility to participate in a company-sponsored 401(k); vacation benefits; eligibility for medical, dental, vision, and prescription drug benefits; flexible benefits (e.g., healthcare and/or dependent day care flexible spending accounts); life insurance and death benefits; critical care insurance; personal accidental insurance; commuter benefits; pet insurance; certain time off and leave of absence benefits; well-being benefits (e.g., employee assistance program); and other supplemental benefits (e.g. legal planning assistance; identity theft protection; pet insurance; wellness resources).
Please click this link to learn more about our benefit offerings for Washington State:
Benefit Offerings for Washington State