Job Description

Job Duties of a Home Loan Processor (Canada/UK/US/Australia) A HomeLoan Processor is responsible for managing the administrative aspects of the mortgage loan process, ensuring that all necessary documentation and procedures are completed accurately and efficiently. Below is a summary of key duties and responsibilities: 1. Loan Application Review- Review and verify all components of loan applications, ensuring that all required forms and documents are submitted by the applicant.- Confirm the completeness and accuracy of applications before forwarding to underwriters. 2. Document Collection and Verification- Gather necessary financial documentation from borrowers, including pay stubs, tax returns, bank statements, and credit reports.- Verify the authenticity of documents and cross-check information provided by applicants. 3. Coordination with Borrowers and Lenders- Communicate with borrowers to clarify or request additional documentation or information.- Workwith lenders, real estate agents, appraisers, and title companies to ensure all necessary steps in the loan process are completed in a timely manner. 4. Credit Analysis- Review credit reports and assess the borrower's creditworthiness based on established lending criteria.- Ensure compliance with mortgage lending laws, including adherence to industry regulations and guidelines. 5. Loan File Preparation- Prepare complete loan files for underwriting, ensuring that all required documentation is included and properly organized.- Ensure all pre-approval conditions are met before submitting the loan for final approval. 6. Compliance and Regulatory Adherence- Stay up-to-date on mortgage laws, regulations, and industry standards , including guidelines from the Mortgage and Housing Corporation (CMHC), the Office of the Superintendent of Financial Institutions (OSFI), and other relevant governing bodies.- Ensure that the loan processing follows all applicable legal and compliance standards. 7. Communication and Updates- Keep both borrowers and lending teams informed of the status of applications throughout the loan processing phase.- Notify applicants of any issues or delays and provide updates on the timeline for approval and closing. 8. Prepare Closing Documentation- Prepare the necessary documentation for loan closing, including disclosures, agreements, and schedules.- Ensure all closing requirements are met and assist in scheduling the closing process. 9. Quality Control and Error Resolution- Perform quality control checks to ensure accuracy and completeness of all loan-related documents.- Resolve any discrepancies or errors in the loan file, working with borrowers or other team members to correct issues. 10. Customer Service- Provide excellent customer service by addressing borrower inquiries, providing guidance on the loan process, and offering solutions to any challenges that may arise. Skills and Qualifications:- Knowledge of mortgage products, laws, and regulations

Job Type: Full-time

Pay: ₹40,000.00 - ₹60,000.00 per month

Benefits:

Provident Fund
Work Location: In person