This position is responsible for loan processing and managing a high-volume loan pipeline to meet time sensitive deadlines. The pipeline may consist of conventional loans (both conforming and jumbo) and FHA loans (forward and reverse mortgages). The Mortgage Specialist assumes primary responsibility for the loan after receipt from the department supervisor up to clearing the file for the Closing Department. The Mortgage Specialist will review the loan for missing documents, communicate with borrowers, analyze the documents and resolve discrepancies in order to ready the loan for the underwriter.
Assist clients with submission of necessary documents and manage the process from pre-approval to closing.
Track support information and ensure the highest quality in loan documentation preparation and timely submission of the loan into underwriting.
Read, analyze and interpret loan documents, including various types of financial statements.
Process information quickly with a high degree of accuracy.
Research and resolve issues using various resources and process documentation.
Timely and accurate entry of data into Encompass system.
Gather, review and analyze necessary data (i.e. income, assets, employment verification, loan application, credit documents, and appraisal, etc.)
Provide proactive, timely follow-up to client, supervisor and other department staff
Correct errors and investigate inconsistencies
Verify, compile and enter application information, review file to verify that data is complete and meets Bank standards, program and/or investor requirements
Submit loans to AUS systems (LP, DU, Total Scorecard, proprietary) as applicable and validates results to loan data
Prepares and issues accurate federal disclosures as necessary within legal time-frames
Performs appraisal reviews and requests corrections as necessary prior to underwriting
Prepares and issues Mortgage Commitments, follows up on conditions and clears loan files for the Closing Department
There is no formal training provided on a day-to-day basis. Further, the pace does not allow for a lot of individual guidance, so the successful candidate will be expected to begin handling a pipeline of loans immediately.
Must be well-organized, able to prioritize, multi-task and work well independently and under pressure, meeting multiple and sometimes conflicting deadlines.
Must possess excellent communication skills, problem solving abilities, including knowing who to contact for assistance in obtaining resolution.
Willing and able to abide by all applicable regulatory and department practices and procedures.
5 years or more of previous mortgage processing experience, including expertise in the following: conforming and non-conforming loans, conventional and FHA loans.