1. Perform file set-up functions to include, but not limited to; USPS, flood cert, data verify, 4506, complianceEase, credit reports, verifications, HOI/Flood, HOA cert, payoffs, subordination agreements, appraisal, title and LQI.
2. Collect and process upfront fees and reconcile prior to submission to closing or cancelation of file.
3. Perform welcome call or written introduction to all customers (depending on preferred method of communication indicated by customer), and document in comments within 24 hours on a purchase and 48 hours on a refinance.
4. Obtain any and all necessary documentation from customers to complete transaction for submission to underwriting within 7 days.
5. With the assistance of LPII or LPIII, review and validate all credit, asset, income, purchase contract, appraisal and title documents according to underwriting guidelines and/or underwriting conditions prior to initial and final submission to underwriting.
6. With the assistance of LPII or LPIII, validate documentation reviewed satisfies DU or LP findings. Any changes are to be re-run, re-validated, and must match all documentation in loan file prior to submission to underwriting.
7. Manage pipeline to assure every purchase transaction is touched every 2 days and refinance transaction every 3 days, and cancel loans when necessary.
8. Conduct a weekly pipeline review with all MLO’s.
9. Maintain consistent communication with MLO’s and customers on the status of each transaction to assure all purchase transactions are closed by COE date, and refinances prior to the lock expiring. Re-set expectations when necessary, and agreed upon by all parties in the transaction.
10. Prepare transactions for closing and assist closing or post closing when requested.
11. Prepare and distribute the initial disclosure package in accordance with Reg Z & Reg X standards when necessary.
12. Monitor “new lock” report daily for re-disclosure in accordance with Reg Z & Reg X standards.
13. Monitor fee changes. Prepare and distribute re-disclosures (when necessary) in compliance with the “change in circumstance policy”.
14. Perform basic data entry, and operate copy/scanning/imaging equipment.
15. Process denied and withdrawn files in compliance with Reg B and Reg C standards. Monitor aging pipeline and issue “notice of incompleteness” according to policy.
16. Completes annual E-Learning Plan and Bank Secrecy Act (BSA) training as assigned and keeps up-to-date knowledge of BSA as it relates to the job function.
17. Performs other duties as assigned.
1. High School Diploma/GED
2. 1-3 years experience in accounting or administrative support, preferably in the mortgage industry.
3. Knowledge of underwriting guidelines and AUS systems such as DU and LP a plus.
4. Excellent organization, multi-tasking and professional communication skills while meeting deadlines.
5. Ability to work in a cross-functioning team environment.
6. Knowledge of Microsoft Word and Excel.
7. Accuracy and strict attention to detail a must.
8. Ability to maintain a pipeline of 10 loans.
Role: Mortgage Loan Processor
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