Mortgage Processing
Mortgage Processing is the detailed work of handling home loan applications from start to finish. It involves reviewing loan applications, collecting necessary documents from borrowers, checking credit histories, and preparing loans for approval. Think of it as being similar to putting together a complex puzzle – all the pieces (documents, verifications, and checks) need to fit perfectly before a home loan can be approved. This work is essential in banks, credit unions, and mortgage companies. You might also hear it called "loan processing" or "mortgage loan processing."
Examples in Resumes
Processed over 100 Mortgage Processing applications monthly with 98% accuracy rate
Managed Mortgage Processing team handling conventional and FHA loans
Streamlined Mortgage Processing workflow reducing application time by 25%
Led Loan Processing division for residential mortgages
Expertise in Mortgage Loan Processing for jumbo and conventional loans
Typical job title: "Mortgage Processors"
Also try searching for:
Where to Find Mortgage Processors
Professional Associations
Professional Networks
Example Interview Questions
Senior Level Questions
Q: How would you handle a high-volume processing environment while maintaining quality?
Expected Answer: A senior processor should discuss workflow management systems, quality control procedures, team coordination, and methods for prioritizing applications while maintaining accuracy.
Q: What experience do you have with implementing process improvements?
Expected Answer: Should describe specific examples of streamlining workflows, introducing new technologies, training team members, and measuring success through metrics like reduced processing times or error rates.
Mid Level Questions
Q: What are the key factors you check when reviewing a mortgage application?
Expected Answer: Should mention income verification, credit history, debt-to-income ratio, employment history, and property appraisal requirements.
Q: How do you handle difficult borrower situations?
Expected Answer: Should explain communication strategies, problem-solving approaches, and knowledge of alternative documentation or loan programs.
Junior Level Questions
Q: What are the basic required documents for a mortgage application?
Expected Answer: Should list pay stubs, W-2s, tax returns, bank statements, and other standard documentation needed for loan processing.
Q: Explain the difference between conventional and FHA loans.
Expected Answer: Should demonstrate basic understanding of common loan types and their main requirements.
Experience Level Indicators
Junior (0-2 years)
- Basic document collection and organization
- Understanding of standard mortgage requirements
- Basic compliance knowledge
- Data entry and file management
Mid (2-5 years)
- Different types of mortgage programs
- Complex income calculations
- Understanding of underwriting guidelines
- Strong problem-solving abilities
Senior (5+ years)
- Team leadership and training
- Process improvement expertise
- Advanced compliance knowledge
- Quality control management
Red Flags to Watch For
- No knowledge of basic mortgage terminology
- Unfamiliarity with standard mortgage documentation
- Poor attention to detail
- Lack of understanding about compliance requirements
- No experience with mortgage processing software
