Loan Processors

Hire experienced loan processors in the Philippines to accelerate loan packaging and processing

 

Want to speed up how many loans can a mortgage processor handle? Outsourcing loan processing to the Philippines with full-time highly experienced loan processors will help you close more loans for up to 72% less in labor expenses.

To win more business against your closest rival in today’s increasingly competitive mortgage processing industry, you need to continuously find efficiencies in all corners of your operations. Outsourcing loan processing to the Philippines will help you optimize your loan packaging and processing tasks and increase your team’s overall productivity.

From evaluation to settlement, contract mortgage loan processors in the Philippines proficient in using the latest loan originator software (LOS) can slash 2-3 hours of processing time at a significantly lower rate per hour compared to their onshore counterparts, allowing you to write more loans without burning out your employees.

With the reduced time spent in processing paperwork on every loan you write you can set up your business for growth and increased profitability. For over 10 years we have helped many mortgage firms to be more efficient and profitable with these highly sought-after benefits:

• Increased efficiency in underwriting
• Increased capacity to write new loans
• Faster processing turn-around-time
• Streamlined packaging process
• Agile resource planning
• Lower stress levels and decreased attrition rate
• Increased service level and customer satisfaction

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Loan Processor Responsibilities

• Evaluate the creditworthiness of loan applicants with specified parameters
• Interview loan applicants to verify financial eligibility and viability of granting loans
• Review initial loan approval and collaborate with the borrower to collect appropriate documentation
• Gather all required documentation for the loan package
• Create a loan submission package for the Underwriting department
• Submit all required documents to assigned Underwriter
• Satisfy all conditions when received from Underwriter
• Ensure that approval completely meets established lending guidelines
• Use professional judgment to identify which prospective borrowers qualify to be good risk opportunities for the company

Loan Processor Skills

• Excellent communication and customer service skills
• Experience in the consumer loan industry
• Accuracy and strong attention to detail
• Familiarity with banking applications/software
• Ability to work in a result–driven environment
• Demonstrable customer satisfaction orientation and sales competencies record
• Comprehensive knowledge of direct/indirect lending products and practices
• Excellent analytical and mathematical skills
• Proficient in operating various Loan Originating Software (LOS)

Top Talent, Total Care:

How We Reach and Keep Loan Processing Talent

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Loan Processor Work Experience

Wondering what to look for in a Loan Processor? Here are the Loan Processor role levels categorized by their years of experience and responsibilities so you can determine which level meets your needs:


Junior Loan Processors

Fresh graduate to 1 year of relevant loan processing and packaging experience

Skills

• Excellent verbal and communication
• Organization skills and high attention to detail
• Working knowledge of basic office software

 

Responsibilities

• Perform loan documentation duties
• Retrieve missing our outdated loan information
• Scan, parse, upload, and manage all documents through the Loan Origination System

Experienced Loan Processors

1 to 3 years of relevant loan processing and packaging experience

Skills

• Customer interaction and service skills
• Knowledge of loan process, lifecycle and requirements
• Working knowledge of loan processing software

 

Responsibilities

• Evaluate underwriting requirements and loan documents for eligibility
• Retrieve missing our outdated loan information
• Coordinate with customers and internal staff during the loan cycle

Senior Loan Processors

3 to 5 years of relevant loan processing and packaging experience

Skills

• In-depth knowledge of the mortgage industry, including regulatory requirements
• Proficient in Loan Processing Software and Automated Underwriting Systems
• Knowledge of commercial loans, refinance loans, and others such as FNMA, FHA, VA, USDA (may vary per country)

 

Responsibilities

• Oversees the entire loan process – from submission to closing
• Acts as the main point of contact among the borrower, agents, other loan officers and underwriters
• Handles third-party documentation including home inspections, appraisals, audits, hazard insurance, etc.

Typically, Filipino virtual loan processors are proficient in using the following loan originator software (LOS):

Save up to 72% on labour costs when you outsource loan processing to the Philippines.

 

Contact us to get your loan processor salary estimate and learn more about outsourcing in the Philippines today!