IMB is seeking an experienced Non-QM Mortgage Processor to join our Operations team. The ideal candidate will have a strong understanding of Non-QM lending guidelines and be responsible for managing mortgage loan files from application through closing. This individual will work closely with Loan Officers, Underwriters, Account Executives, borrowers, and third-party vendors to ensure loans are processed accurately, efficiently, and in compliance with investor and regulatory requirements.
Essential Duties and Responsibilities
• Review new loan files for completeness and accuracy.
• Analyze loan documentation and identify any missing or outstanding conditions.
• Process a variety of Non-QM loan products, including but not limited to:
• Bank Statement Loans
• DSCR (Debt Service Coverage Ratio) Loans
• Asset Depletion Loans
• P&L Loans
• Foreign National Loans
• ITIN Loans (if applicable)
• Collect and review income, asset, credit, and collateral documentation.
• Calculate income using Non-QM guidelines and investor overlays.
• Order and review third-party services, including:
• Appraisals
• Title work
• Flood certifications
• Verifications
• Communicate regularly with borrowers, Loan Officers, Account Executives, and third-party vendors regarding loan status and required documentation.
• Submit complete loan files to underwriting.
• Review underwriting decisions and clear conditions promptly.
• Ensure all compliance, TRID, federal, state, and investor requirements are met.
• Coordinate with Closing and Funding departments to ensure timely loan closings.
• Maintain accurate loan documentation within Encompass.
• Meet established turn-time, quality, and customer service expectations.
• Stay current on Non-QM investor guideline updates and regulatory changes.
Qualifications
• Minimum 3 years of mortgage processing experience, with at least 2 years processing Non-QM loans.
• Strong understanding of Non-QM underwriting guidelines and documentation requirements.
• Experience processing multiple investor programs.
• Proficient in Encompass Loan Origination System.
• Knowledge of TRID, RESPA, TILA, ECOA, and federal mortgage regulations.
• Ability to calculate complex income scenarios.
• Strong organizational and time-management skills.
• Excellent verbal and written communication skills.
• Detail-oriented with the ability to manage multiple files simultaneously.
• High level of professionalism and customer service.
Preferred Qualifications
• Experience working for an Independent Mortgage Banker (IMB).
• Familiarity with investors such as Deephaven, Angel Oak, Acra Lending, Carrington, Champions Funding, and other Non-QM investors.
• Experience processing Conventional, FHA, VA, and Jumbo loans is a plus.
• NMLS knowledge is preferred.
Skills & Competencies
• Strong analytical and problem-solving abilities
• Excellent attention to detail
• Ability to prioritize workload in a fast-paced environment
• Strong interpersonal and relationship-building skills
• Ability to work independently while collaborating with cross-functional teams
• Commitment to providing exceptional service to borrowers and internal partners