Provide loan processing support to loan officer and customer.
Contact customer to request appropriate credit documentation needed for loan file.
Maintain regular communication with customer and loan officer.
Communicate UW approval and obtain outstanding conditions.
Review appropriate credit documentation (income, appraisal, assets, red flags, credit report,
etc.) has been received per corporate loan policy and/or AUS results and update loan origination
system.
Order tax transcripts and condo questionnaires as applicable.
Request/ review any other documentation pertinent to the loan file (affidavits, offers to purchase, tax returns, recorded
documents, certificates of eligibility, etc.).
Prepare file and submit to Residential Loan Underwriting Department for a loan decision, ensuring Reg B is not violated.
Analyze credit documentation (income, assets, red flags, KYC, credit report) provided to ensure
required documents have been received per loan policy and/or AUS results.
Update Loan Officer of completed tasks and progress throughout processing phase.
Monitor progress of requested information to ensure loans are decisioned in a timely manner.
Verify that requested information is complete and logged on checklist.
Update application form and enter in Loan Origination System.
Review all critical documents (appraisal, credit report, title evidence, VOD, VOE, VOL, etc.) for consistency and to ensure data integrity within the loan
application.
Communicate with Regulatory Team, Loan Officer and/or Underwriting to ensure all applicable change of circumstances have been properly documented and disclosed to the customer.
Review title commitments to ensure proper lien position will be met.
Obtain any subordination and/or satisfactions.
Communicate with Loan Officer to address any judgments, encumbrances, encroachments or other liens that would put lien position at risk.
Confirm all required documentation has been printed to create a complete paper file to be submitted for record retention for all loan files.
Ensure all denied and withdrawn loans, are submitted to records in a timely manner to ensure file is available for HMDA review.
Requirement:
2-4 plus years experience in mortgage banking
Knowledge of residential loan documents, loan servicing policies and practices, as well as laws and regulations applicable to loan programs, closings and real estate transfers.
Extensive knowledge of Construction and Government loan processing.