Job Description: Loan Processor

Employment Type: Full-Time Location Type: Remote Salary: [Salary information not provided]

About Multiply Mortgage

Multiply Mortgage is a technology company and a mortgage company. We pair experienced, local mortgage advisors on our team with technology to deliver a better customer experience. Through our company partnerships channel, we partner directly with companies to offer mortgages as an employee benefit — with exceptional rates, concierge service, and modern software.

Our team previously built consumer tech products at Uber, Square, DoorDash, and Google, and we are bringing the customer experience we love from these products to mortgage origination. We’re committed to building technology that enhances, rather than replaces, experienced mortgage loan originators. A mortgage is the largest financial transaction of most Americans’ lives—they deserve an expert advisor to guide them through the process, and technology that makes the experience smoother.

Multiply Mortgage is backed by Kleiner Perkins, A*, and Box Group, as well as founders and executives from Ramp, Plaid, Figma, DoorDash, Notion, Instacart, Faire, Flexport, Niantic, Rippling, Iterable, Lattice, Newfront, and more.

Opportunity Overview

We know how important white-glove service is to our customers, ensuring a smooth and efficient loan process. You will be responsible for collecting, analyzing, and processing loan applications, ensuring compliance with regulatory guidelines, and coordinating with various stakeholders to facilitate timely loan closings.

How You Will Contribute

• Review and Organize Loan Applications:
  • Check mortgage loan applications for completeness, accuracy, and compliance with lending guidelines.
  • Gather and verify all required documentation for loan approval (income verification, tax returns, and asset documentation).
• Credit and Financial Analysis:
  • Run AUS and validate that the borrower meets the selected loan program guidelines.
  • Suggest alternative programs to the Loan Officer if a change is needed due to not meeting the program or being unable to satisfy conditions.
• Prepare and Submit Loan Files:
  • Assemble and submit complete loan files to underwriters for approval.
  • Ensure all documentation is able to satisfy loan conditions and meet guidelines prior to submitting for Underwriter review.
• Order Appraisals and Title Searches:
  • Order title searches.
  • Work with third parties (such as appraisal management and title companies) to ensure the property appraisal is completed within the required timeframe to close on time.
• Liaison Between Parties:
  • Act as the primary point of contact between loan officers, real estate agents, title companies, borrowers, and any wholesale lenders if warranted.
  • Communicate regularly to clarify questions, resolve issues, and ensure all parties are informed of the status and next steps.
• Monitor and Track Deadlines:
  • Manage the loan processing timeline, ensuring all contingencies and closing deadlines are met to avoid delays or additional fees.
  • Ensure loans are submitted for clear-to-close review 7 days prior to the close date and closing documents are sent to title 3 days before closing.
• Handle Closing Documentation:
  • Once a loan is approved, coordinate with title companies and attorneys to prepare Closing Disclosures and closing documents.
  • Prepare accurate initial Closing Disclosures and assist borrowers with any questions related to the review of the CD.
  • Follow up with Settlement Agents to schedule the final closing and ensure all paperwork is ready for signing.
  • Address any post-closing issues or discrepancies.
• Compliance and Record Keeping:
  • Maintain accurate records of all loan files and documentation, ensuring compliance with all relevant banking and finance regulations.
  • Update internal systems and client files as needed.
• Customer Service and Support:
  • Commit to ensuring a seamless and positive experience for all borrowers, proactively addressing their needs and concerns, and keeping them informed throughout the loan process.

Why Join Multiply Mortgage?

Be part of transforming the mortgage industry.