Mortgage Loan Processor - Bartlett - $35-55K in Memphis, TN at Vaco

Date Posted: 10/17/2020

Job Snapshot

  • Employee Type:
  • Location:
    Memphis, TN
  • Job Type:
  • Experience:
    At least 1 year(s)
  • Date Posted:
  • Job ID:

Job Description

Vaco Staffing is seeking a Mortgage Loan Processor for a direct-hire opportunity with a progressive financial institution in Bartlett, TN. The Mortgage Loan Processor will assist applicants with their application, schedule closings, and collect necessary documents for approval. This company offers competitive benefits, life insurance, and profit sharing. Qualified candidates will have at least 1 year of experience, working knowledge of lending practices, and strong analytical skills. 2 or 4-year degree preferred. $35-55K salary based on experience, plus incentives for closing.


  • Provide excellent service to members and real estate professionals.
  • Order vendor documents necessary to process a mortgage loan: appraisal, title work, flood determination, MI.
  • Contact insurance agent to obtain necessary insurance documentation and request changes to policy.
  • Contact mortgage holders for payoffs.
  • Contact employers for verifications of employment.
  • Obtain termite reports and verify who is responsible for payment.
  • Work with investor or government agency to obtain FHA case numbers, CAIVRS clearance, etc.
  • Obtain documents from the borrower as indicated by the underwriter (asset documents, gift letters, letters of explanation, etc.)
  • Follow up with vendors, borrowers, and other parties involved with the loan transaction to obtain items necessary to process the file and to keep all parties updated.
  • Deliver appraisal to borrower and obtain appraisal acknowledgement.
  • Review and analyze all documentation received to verify that it is consistent with the member's application and if not, clarify differences.
  • Monitor LTV and DTI calculations as additional information is received to ensure loan is still within guidelines.
  • Prepare the loan package according to investor or credit union stacking order and upload the package for underwriting.
  • Schedule closing with appropriate parties and provide necessary information to the closer.
  • Interpret and clear findings from FNMA and Freddie Mac.
  • Research and interpret federal and state regulations governing mortgage lending.
  • Work with teammates in analyzing and solving situations that may arise during the loan processing and closing.


  • One-year minimum mortgage processing experience with a working knowledge of FNMA, FHLMC, FHA, USDA and VA loan products.
  • High school diploma or equivalent. Associate degree preferred.
  • Excellent oral and written communication skills.
  • Working knowledge of first-mortgage real estate lending practices, including federal regulatory requirements, state regulations and agency requirements.
  • Proficient analytical skills, with a high degree of accuracy. Ability to perform income analysis and analyze complex tax returns, including corporate, partnership and S-corporations.
  • Proficient in using office equipment, including computers, calculators, fax machines, copy machines, typewriters, etc, with advanced computer knowledge
  • Ability to perform both in a team environment and independently as needed.
  • Ability to perform in a multi-task environment, with the ability to prioritize tasks.
  • National Mortgage Licensing System Requirements.
  • Positive Attitude