Mortgage Loan Processor - WY
First Federal Bank & Trust - WY & MT, Sheridan, WY, United States
Overview
Our work environment is fast-paced and requires team members to provide excellent customer service, be detail-oriented, to learn quickly and have strong organizational skills. Most importantly, we want our team members to have a positive attitude and enjoy their job and their co-workers. Team members are expected to strongly support the Bank's Strategic Plan and to perform their job duties in accordance to and in the spirit of the Bank's Mission Statement and Organizational Values. Individuals are responsible for processing daily, weekly or monthly operational duties as listed.
Role The Mortgage Loan Processor works closely with loan originators and the underwriter and is primarily responsible for receiving, processing and input of information supplied on loan applications, assembling completed documentation files for submission to underwriters, and maintaining customer/third-party referrers contact throughout this process. The goal is to upload complete and accurate files so that the underwriter has all information needed to decide on the loan. The role requires understanding documentation requirements, analyzing documents to meet product guidelines, maintaining neat and orderly files, using the loan origination system, documenting loans with complete and thorough notes, communicating with all parties with consistency, transparency, and honesty, documenting conversations, developing a system for following up with the originator and underwriter, using processing and office technology tools efficiently, and being familiar with agency and investor guidelines and documentation requirements.
Major Duties and Responsibilities
Review documentation presented by originators and ensure that it is accurate, complete, and consistent
Request additional documents to support the loan application
Confirm that the licensed originator provided all disclosures to the borrower within the timeframe required by federal regulation
Ensure that the loan file meets all product guidelines
Obtain verification of deposit documentation provided by independent third parties used to verify information on the loan application and assess assets
Obtain verification of employment documentation provided by independent third parties to substantiate employment information, income stability, and ability to repay the mortgage loan
Obtain loan documentation including paystubs, W-2s, tax returns, bank statements, and IRS 4506T transcripts
Order an appraisal according to the loan type and pull the credit report if needed
Input appraisals into the automated system with detailed information for the property
Run the loan through the automated underwriting system (DU/LPA) for loan approval and documentation requirements as necessary
Update the loan origination system as documents are received and re-run the AUS findings as necessary
Remain alert for valid change of circumstances that trigger redisclosure requirements
Ensure borrower communications and updates are handled in a timely, consistent, and professional manner
Provide a complete loan file to the underwriter for efficient validation and underwriting
Review underwriting conditions; satisfy all conditions received from the underwriter and ensure that approval falls within established lending guidelines
Issue weekly updates to borrowers, lenders, realtors, and closers; prepare ECOA notices if a loan is denied; inform borrowers, realtors, builders and closers of loan status
Schedule closings with title agencies
Calculate all fees and escrows associated with closing and balance the numbers
Prepare and deliver the closing disclosure in advance of closing
Create a properly executed, quality loan package that meets regulatory requirements and investor guidelines
Prepare the funding approval of each loan and submit wire transfers to the Servicing department for loan funding
Deliver closing instructions, final closing disclosure, and settlement documents to the settlement agent
Attend closings as necessary
Verify proper execution of a closed loan post-closing to ensure all documents were correctly signed and filed
Satisfy all post-closing conditions found by an outsourced auditor; other duties as assigned
Customer Service Provide and promote exceptional customer service.
Compliance Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
Knowledge and Skills Experience 6 months to 2 years of similar or related experience, including preparatory experience. In-depth knowledge of mortgage lending guidelines and regulations.
Education/Certifications/Licenses High school education or GED.
Interpersonal Skills A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be sensitive and confidential. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject matter experts as well as first level to middle managers.
Other Skills Qualifications to perform this job successfully include the ability to perform each essential duty satisfactorily. The following skills are representative:
Professionalism: Approaches others tactfully, handles pressure, respects others, and follows through on commitments.
Professional appearance and organizational work area.
Teamwork: Balances team and individual responsibilities and contributes to a positive team spirit.
Mathematical Skills: Ability to calculate figures, including discounts, interest, and payments; perform basic arithmetic.
Reasoning Ability: Apply common sense and understanding to carry out instructions and solve problems.
Powered by ExactHire: 194987
#J-18808-Ljbffr
Role The Mortgage Loan Processor works closely with loan originators and the underwriter and is primarily responsible for receiving, processing and input of information supplied on loan applications, assembling completed documentation files for submission to underwriters, and maintaining customer/third-party referrers contact throughout this process. The goal is to upload complete and accurate files so that the underwriter has all information needed to decide on the loan. The role requires understanding documentation requirements, analyzing documents to meet product guidelines, maintaining neat and orderly files, using the loan origination system, documenting loans with complete and thorough notes, communicating with all parties with consistency, transparency, and honesty, documenting conversations, developing a system for following up with the originator and underwriter, using processing and office technology tools efficiently, and being familiar with agency and investor guidelines and documentation requirements.
Major Duties and Responsibilities
Review documentation presented by originators and ensure that it is accurate, complete, and consistent
Request additional documents to support the loan application
Confirm that the licensed originator provided all disclosures to the borrower within the timeframe required by federal regulation
Ensure that the loan file meets all product guidelines
Obtain verification of deposit documentation provided by independent third parties used to verify information on the loan application and assess assets
Obtain verification of employment documentation provided by independent third parties to substantiate employment information, income stability, and ability to repay the mortgage loan
Obtain loan documentation including paystubs, W-2s, tax returns, bank statements, and IRS 4506T transcripts
Order an appraisal according to the loan type and pull the credit report if needed
Input appraisals into the automated system with detailed information for the property
Run the loan through the automated underwriting system (DU/LPA) for loan approval and documentation requirements as necessary
Update the loan origination system as documents are received and re-run the AUS findings as necessary
Remain alert for valid change of circumstances that trigger redisclosure requirements
Ensure borrower communications and updates are handled in a timely, consistent, and professional manner
Provide a complete loan file to the underwriter for efficient validation and underwriting
Review underwriting conditions; satisfy all conditions received from the underwriter and ensure that approval falls within established lending guidelines
Issue weekly updates to borrowers, lenders, realtors, and closers; prepare ECOA notices if a loan is denied; inform borrowers, realtors, builders and closers of loan status
Schedule closings with title agencies
Calculate all fees and escrows associated with closing and balance the numbers
Prepare and deliver the closing disclosure in advance of closing
Create a properly executed, quality loan package that meets regulatory requirements and investor guidelines
Prepare the funding approval of each loan and submit wire transfers to the Servicing department for loan funding
Deliver closing instructions, final closing disclosure, and settlement documents to the settlement agent
Attend closings as necessary
Verify proper execution of a closed loan post-closing to ensure all documents were correctly signed and filed
Satisfy all post-closing conditions found by an outsourced auditor; other duties as assigned
Customer Service Provide and promote exceptional customer service.
Compliance Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
Knowledge and Skills Experience 6 months to 2 years of similar or related experience, including preparatory experience. In-depth knowledge of mortgage lending guidelines and regulations.
Education/Certifications/Licenses High school education or GED.
Interpersonal Skills A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be sensitive and confidential. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject matter experts as well as first level to middle managers.
Other Skills Qualifications to perform this job successfully include the ability to perform each essential duty satisfactorily. The following skills are representative:
Professionalism: Approaches others tactfully, handles pressure, respects others, and follows through on commitments.
Professional appearance and organizational work area.
Teamwork: Balances team and individual responsibilities and contributes to a positive team spirit.
Mathematical Skills: Ability to calculate figures, including discounts, interest, and payments; perform basic arithmetic.
Reasoning Ability: Apply common sense and understanding to carry out instructions and solve problems.
Powered by ExactHire: 194987
#J-18808-Ljbffr