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Mortgage Processor

United States, Schaumburg · Job Posted March 01, 2026
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Job Description

We are looking for a dedicated Mortgage Processor to join our team in Schaumburg, Illinois. In this long-term contract to permanent position, you will play a key role in managing loan files, ensuring compliance, and delivering excellent service to both borrowers and stakeholders. This opportunity is ideal for individuals with strong attention to detail and a passion for working in the fast-paced mortgage industry.

Job Responsibility

  • Manage a high-volume pipeline of loan applications while maintaining accuracy and efficiency
  • Analyze borrower financial information, including income, assets, and debt ratios, to determine eligibility across various loan programs
  • Review credit reports, titles, purchase contracts, and appraisals to identify discrepancies and ensure compliance with regulations
  • Conduct verbal verifications of employment (VOEs) and communicate with borrowers about documentation deadlines
  • Validate new loan submissions within 48 hours, ensuring all necessary information is logged and files are complete for underwriting
  • Monitor contingency and closing timelines, notifying loan officers when adjustments are required
  • Collect and organize loan documentation using established checklists to prepare files for underwriting decisions
  • Apply knowledge of Freddie Mac guidelines, AllRegs, and mortgage red-flag standards to ensure loan quality
  • Provide backup processing support to team members during high-volume periods or absences
  • Maintain consistent communication with all parties involved to ensure smooth processing and timely updates

Requirements

  • Minimum of 3 years of experience in loan processing, including conforming, FHA, VA, 203K, and subprime programs
  • Strong knowledge of mortgage compliance standards, including Know Before You Owe regulations
  • Proficiency in QC practices, fraud detection, and systems such as Desktop Underwriter (DU) and Loan Prospector (LP)
  • Skilled in using Microsoft Office applications and capable of multitasking in a fast-paced environment
  • Excellent communication skills with the ability to engage effectively with borrowers and team members
  • Highly organized and detail-oriented, with strong problem-solving skills
  • High school diploma or equivalent required

Nice to have

Familiarity with Encompass and other loan processing software is preferred

What we offer

  • medical, vision, dental, and life and disability insurance
  • eligible to enroll in our company 401(k) plan

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