(MN) Processor-Closer
SUMMARY:
This position is responsible for analyzing and preparing mortgage loans applications for dispositions by underwriting department and preparing mortgage loan closing documents compliant with investor and internal lending requirements. The incumbent works within guidelines set forth by the Bank, our end investors, and standard guidelines as established by FNMA, FHLMC, VA and FHA. In addition, it requires a strong working relationship with the internal and external customers. Incumbent also works directly with the retail sales force acting as direct liaison with the Mortgage Operations team. In addition, it requires a strong working relationship with internal personnel.
RESPONSIBILITIES:
An individual who successfully performs in this position will be able to satisfy the following essential functions with moderate to low direction from Management:
- Reviews incoming orders to accuracy prior to placing order with third-party vendors, communicates status with all involved parties
- Performs credit analysis on loan documentation submitted for underwriting
- Ensures all required documentation present to validate AUS findings
- Ensures all additional Bank and investor requirements are met on each loan transaction
- Ensures all compliance guidelines and documentation requirements are met
- Review AVM, IRA tax transcripts and any other third-party resource utilized to validate accuracy of data in the mortgage credit file prior to submission to underwriting
- Review loans to ensure all required information to close in loan files
- Review title commitments to ensure Bank will have a first lien position
- Issue Closing Disclosures
- Coordinate closings with internal and external personnel
- Review executed closing documents to ensure executed correctly
- Ship loans to investors and respond to any requirements in order for investor to purchase loans
- Learn investor guidelines, lending policies, and the required documentation, policy and procedures of First Independence Bank
- Provides guidance to others via Microsoft TEAMS or similar screen-sharing technologies
- Make decisions quickly and independently
- Manage multiple closing deadlines in a rapidly changing environment
- Work modified hours to complete necessary work
- Review Fraud. Guard and conduct verbal verifications of employment
- Identify ways to improve processes, productivity, and customer experience
- Cross train in other department functions and assist others as time permits.
EDUCATION AND/OR EXPERIENCE:
- High School Diploma or equivalent
- Minimum of 2-5 years’ experience processing residential mortgage loans.
- Ability to interact with the sales force on a loan level basis to ensure progress and loan quality
- Ability to identify and resolve client issues and use good judgment in making immediate decisions that impact the branch, the bank, and its clients
- Ability to manage multiple deadlines in a rapidly changing environment
- Ability to make independent evaluation of alternatives and recommend solutions
- General knowledge of bank products and processes
- Knowledge of MS Office Suite, knowledge of MortgageBot Loan Origination System a plus
- Experience with closing documents at mortgage lender, real estate office, title company or attorney firm
- Experience in service industry interacting with clients
May assume other responsibilities and/or requirements as business objectives impose.
