Senior Real Estate Loan Processor - 100% REMOTE!
About the Company and Opportunity:
- Our client is proud to be one of the nation's largest credit union serving the healthcare and biomedical industry.
- Due to growth, they are hiring a Senior Real Estate Loan Processor. The pay is $25 - $28 an hour and is 100% remote! This position will last for about 3 months and starts immediately!
- Some of the employee reviews, include things like:
- 'Great environment!!! No more to say!!!! They work with you to make sure your happy and comfortable in your position. It's always pleasant to go into work because we have continuous training which keeps you up to speed about wants going on in the industry.'
Overview of the Senior Loan Closer role:
- Diligent monitoring of individual pipeline to ensure the timely moving of files in order to meet deadlines for rate locks, purchase contracts and any other applicable dates that must be met. Ensure regular follow up with borrowers and loan officer to keep them informed.
- Respond to general and specific questions from borrowers/members and Loan Officers as it pertains to the status of their loans in progress and communicate any outstanding documents or issues that have arisen on the loan
- Re-disclosure of LE and CD to members as applicable throughout the loan process ensuring compliance with all required regulations.
- Calculate housing debt to income and loan to value ratios independent of the information found in the mortgage system to verify accuracy and update if necessary
- Confirm that the terms of the loan and the applicant's eligibility requirements conform to our credit overlays
- Verify and analyze documentation received to include; credit, paystubs, w-2s, personal tax returns, business tax returns, bank statements, retirement statements, property appraisals, AUS findings and any other necessary documents to determine adherence to FNMA/FHLMC Investor and AUS guidelines and requirements
- Review any changes in loan terms, income, assets etc. and evaluate whether the changes will affect the decision and make necessary adjustments.
- Upon initial review of loan file, order any necessary documents to ensure complete loan file for submission to underwriting including but not limited to an appraisal, condominium questionnaire/budget, flood cert, tax transcripts, title policy and Home Owners insurance.
- Input and update all required loan information and data into LOS as documentation is received and reviewed
- Collaborate with management and loan officer on questionable loans to determine a possible course of action
- Review any changes to the loan transaction throughout processing and underwriting phases of the loan, determine if changes affect loan, resubmit to AUS, Secondary and Underwriting as necessary
- Interact closely with management, underwriting, closing, loan officers, members, title companies, real estate agents, and our AMCs to provide and obtain regular updates to achieve goals for production time, pull through and customer satisfaction
- Gather and closely review all the required documentation to clear the approval conditions set by the underwriter and ensure the accuracy of the documentation prior to passing file to Loan Closing
- Collaborate with Underwriting and Closing to ensure loans are underwritten and closed timely
- Assist with training new loan processors in the daily duties required for the position
- .Access Member or Associate personal and financial information only as required by the job. Maintain confidentiality and security of all Member or Associate personal and financial information.
- Ensure that work results and processes comply with relevant laws and within established our policies and procedures, including but not limited to the Bank Secrecy Act (BSA). Provide leadership through personal actions and day-to-day management practices that support the company's core values.
- Report any actual or suspected fraud or financial dishonesty or wrong-doing involving Member, Associates, or to the Security Officer, the Audit/Compliance Manager or the Vice President of Human Resources.
- Serve as back up to the closer for closing and funding first and Home Equity Loans
- Be responsible for compliance with Federal, State, County, NCUA, Private Investors, Freddie Mac/Fannie Mae and MI guidelines.
- The ability to be bonded.
Preferred Qualifications for the Senior Real Estate Loan Processor:
- A minimum of 3-5 years processing conventional 1st mortgage loans and home equity loans. A college degree in a pertinent field is preferred or equivalent work experience needed. Demonstrate a working knowledge of Fannie Mae/Freddie Mac and FHA guidelines as well as credit union lending policies, procedures, and regulations. Possess a thorough understanding of the requirements and features of the mortgage loan programs offered by the company, other private investors, and the secondary mortgage market. Demonstrate the ability to conduct a thorough review of a loan file, analyze the requested transaction and quickly identify problems that may exist as early in the process as possible
- Effectively communicate via telephone, e-mail or fax
- Analytical attention to detail
- Ability to learn and work in a fast paced environment
- Ability to multi-task and prioritize work as required
- Knowledge of mortgage loan origination and processing software
- Competence with Microsoft Office, Excel, PowerPoint and other software. Excellent communication, analytical, and interpersonal skills required. Candidates must have previous Loan Closing experience (3 years min.)
- Experience in closing and post-closing conventional 1st mortgage loans and home equity loans
- Must demonstrate a working knowledge of the CFPB, Fannie Mae/Freddie Mac guidelines as well as credit union lending policies, procedures, and regulations