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Z
Zillow.com
Collateral Specialist
Career Insights for Loan Processor
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Scorecard
Based on California data
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What they do
A Loan Processor processes applications for bank loans including mortgage or commercial loans. Assists customers with the application process, organizes and reviews credit information or business financial reports, and puts together materials needed for loan underwriters to evaluate an application.
$48,883 / year median in California
-31% projected decline
Job Description
About the team The Coordinator II, Mortgage Operations, Post Closing reviews closed mortgage loan files for completeness and accuracy, resolves post-closing deficiencies, and prepares loans for delivery to investors and secondary market partners. The role ensures documentation, data, and collateral meet investor, agency, and regulatory requirements while coordinating with internal teams and external parties to clear exceptions and support timely, compliant file delivery. About the role
- Review closed mortgage loan files to confirm all required documentation, signatures, and data are complete, accurate, and aligned with investor, agency, and regulatory guidelines.
- Identify, research, and resolve post-closing deficiencies and conditions by coordinating with internal operations, sales, and underwriting partners, as well as settlement agents and other external counterparties.
- Validate closing disclosures, notes, security instruments, and supporting documents to ensure consistency with system data and pricing, escalating discrepancies and potential compliance issues as needed.
- Prepare and package post-closed loan files for delivery to investors and secondary market partners, following established checklists, stacking orders, and transmission standards.
- Monitor post-closing pipelines, prioritize work to meet investor delivery timelines and service level expectations, and communicate status, risks, and impacts to appropriate stakeholders.
- Perform quality and data integrity checks on loan records and collateral files, updating systems of record and documenting resolution steps to support audit and investor review.
- Contribute to process and control improvements in post-closing workflows by sharing recurring issues, recommending enhancements, and supporting implementation of updated procedures.
- $34.