Description:
Job Title: Mortgage Loan Processor – Income and Employment Verification
Location: On-site – Bangalore]
Employment Type: Full-Time (FTE) - work from office
Department: US Mortgage Loan Origination
Job Summary:
We are seeking a detail-oriented and process-driven Mortgage Loan Processor to support the Income and Employment Verification (I&EV) function within the US Mortgage Loan Origination process. The candidate should have a strong understanding of US mortgage regulations and loan processing requirements, with specific expertise in verifying borrower income and employment documentation to ensure compliance with underwriting guidelines.
Key Responsibilities:
Conduct thorough reviews of borrower-provided documents such as pay stubs, W-2s, tax returns, and employment letters
Perform income and employment verifications via third-party tools (e.g., The Work Number) and direct contact with employers, if necessary
Calculate qualifying income for different employment types: salaried, hourly, self-employed, commission-based, etc., in accordance with agency (Fannie Mae/Freddie Mac) or investor guidelines
Accurately input and update borrower information in loan origination systems (LOS)
Collaborate with underwriters, loan officers, and processors to resolve income-related issues and obtain additional documentation when required
Ensure all verifications and documentation meet compliance, quality, and turnaround time standards
Maintain an up-to-date understanding of mortgage industry regulations related to income and employment verification
Participate in process improvement initiatives to enhance efficiency and accuracy in the I&EV workflow
Required Skills & Qualifications:
Bachelor’s degree or equivalent work experience in the financial or mortgage services industry
Minimum 2 years of experience in US Mortgage Origination, specifically in income and employment verification
Strong understanding of investor guidelines (Fannie Mae, Freddie Mac, FHA, VA)
Familiarity with loan origination systems (e.g., Encompass, Calyx Point, or similar)
Proficient in reading and interpreting complex financial documents
High attention to detail and accuracy
Excellent communication and documentation skills
Ability to work under pressure and meet tight deadlines
Preferred Skills:
Experience working with third-party verification systems (e.g., The Work Number, Equifax, FormFree)
Prior experience in a BPO or shared services environment supporting US mortgage processes
Knowledge of fraud prevention practices in the loan verification process