Secondary Market Loan Processor/Mortgage Loan Assistant

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Summary

A Secondary Market Loan Processor and Loan Assistant is responsible for preparing loans to be submitted to underwriting and running through Automated Underwriting System by ordering title work, title insurance and appraisals; answering questions and satisfying conditions that the underwriter may require; and coordinating closing dates, calculating funding, and dispersing proceeds to the attorney’s office. A Loan Assistant is responsible to investigate applicants’ backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to the Loan Documentation Preparation and Funding Department. Will also review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers and sellers upon approval of the loan.

Essential Duties & Responsibilities

To perform this job successfully, an individual must be able to perform each essential duty and responsibility satisfactorily. Process all FHA, RHS, VA, and Conventional loans according to program guidelines.

· Process all FHA, RHS, VA and Conventional loans according to program guidelines.

· Verify and examine information and accuracy of loan applications and disclosures.

· Order title searches from local attorneys and appraisals from third parties

· Submit files to corresponding Mortgage Company for underwriting

· Resolve all loans conditions in a timely manner to close loans prior to rate lock expiration

· Order property insurance and title insurance policies

· Communicate regularly with loan officers, customers, and all third parties regarding the loan process

· Contact employers and other sources in order to check applicants’ credit and personal references

· Schedule and conduct closings of mortgage transactions

· Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms and tax receipts.

· Coordinate and schedule closings with attorneys, real estate agents, and buyers and or sellers and loan officer

· Prepare and type closing documents

· Check settlement statements and closing documents for accuracy

· Ensure all follow up documents such as recorded mortgage and final title policy are in file in a timely manner

· Calculate funding amount to send via check or wire to attorneys

· Approve incoming wires to insure the correct amount is sufficient to pay off loans and credit our Secondary Market income account

· Submit loan files to Loan Operations for booking and imaging

· Verify and examine information for accuracy of loan applications and closing documents

· Assemble and compile documents for loan applicants, such as loan approval worksheets and credit reports

· Monitor and resolve outstanding exception report issues

· Ensure required forms and documents are completed and maintained for compliance with company policies and national banking guidelines

· Answer questions and advise customers regarding loan transactions

· Record applications for loan and credit, loan information and disbursements of funds, using computers.

· Aid in preparation of reports such as car reports, loan delinquency and loan maturity; creating reports from core system when necessary

· Prepare month end and quarter reports

· Other duties as assigned

Qualifications

The requirements listed below are representative of the knowledge, skills, and/or abilities required.

· Proficient in the use of all Microsoft Office products, in particular Word and Excel; Bank information systems; Kofax; and Internet research when appropriate.

· Ability to read, analyze, and interpret industry information such customer financial statements and tax returns.

· Ability to give full attention to what other people are saying; taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

· Ability to communicate orally to others to convey information effectively.

· Ability to comprehend written sentences and paragraphs in work related documents.

· Ability to use logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

· Ability to communicate effectively in orally and in writing as appropriate for the needs of the audience.

· Ability to consider the relative costs and benefits of potential actions in order to choose the most appropriate one.

· Ability to manage time and be efficient and effective in the completion of assignments.

· Knowledge of those arithmetic, algebra, geometry, calculus, statistics, and their applications specific to the position.

· Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

Required Education and/or Experience

· High School Diploma or the equivalent.

· Associates Degree or above preferred but not required.

· At least 2 years’ experience in banking or related field.

· Proficient in the use of Microsoft Office products, specifically Excel and Word.

Physical Demands and Abilities

The physical demands and work environment characteristics described herein are representative of those that must be met by an employee to successfully perform the essential duties of this job. Reasonable accommodation will be made to enable individuals with disabilities to perform the essential functions.

· The ability to listen to and understand information and ideas presented through spoken words and sentences.

· The ability to communicate information and ideas in speaking and writing so others will understand.

· The ability to identify and understand the speech of another person.

· The ability to see details at close range (within a few feet of the observer).

· The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.

· Ability to sit for long periods.

· Ability to stand, bend, and lift up to 15 pounds.

· Ability to operate standard business equipment such as fax, computer, printer, copier, etc.

· Ability to look at a computer screen for long periods of time.

· Ability to regularly travel to other locations.

· Must be able to work on flexible schedule that at times may include late working hours or weekend hours.

Other Requirements

· May be required to attend activities outside the bank to stay abreast of new developments, best practices, and statutory and regulatory changes.

· Pursuant to the Drug Free Workplace Act of 1988, all employees must remain drug free and alcohol free when reporting to work, while at work and while engaged in any work related activities.

· Comply with all Bank Secrecy Act rules and regulations and any related laws and regulations.

Job Type: Full-time

Pay: $45,536.95 - $54,840.20 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Employee assistance program
• Employee discount
• Flexible schedule
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Professional development assistance
• Referral program
• Vision insurance

Work Location: In person