Prepare and process mortgage loan files from application through approval. This involves obtaining all necessary documentation as well as ensuring compliance with the bank, regulatory and investor guidelines and customer service standards. Acts as a liaison between the Loan Officers, the borrower(s) and various departments throughout the company.
Primary Duties and Responsibilities:
- Prepare loan files for submission to underwriting.
- Responsible for maintaining constant & effective communication with borrower(s) throughout the loan process.
- Review and verify each file to ensure that all information is correct and current.
- Order credit reports, title commitments, surveys, and appraisals from the appropriate parties and review them for acceptability prior to submitting for approval.
- Responsible for assisting the post-closing and/or quality control department in obtaining any missing documentation needed in order to render a loan saleable into the secondary market.
- Review the pipeline reports daily to ensure accuracy of closing dates, program changes, loan amount changes and current status.
- Send complete loan packages to appropriate underwriter for final approval and validation.
- Responsible for adherence with all federal, state, and agency compliance standards as defined by BMG's Compliance Department.
Job Requirements for Essential/Primary Job Functions:
- Outstanding customer service and communication skills (verbal & written).
- Excellent level of interpersonal skills to work effectively with others.
- Ability to process a caseload of 50 loans per month and close 25 loans per month.
- Basic understanding of loan processing and closing policies, procedures, documents, underwriting requirements, governmental and agency requirements, terminology and automated processing systems.
- Basic understanding of credit policies and approval processes.
- Computer proficiency, particularly with Microsoft Office Suite.
- Knowledge of industry standard underwriting system (FNMA DU, FHLMC LP, Asset Wise).
- Experience with mortgage software, such as Calyx Point, Encompass, Data Track or Empower.
- High school diploma or GED.
- One to three year's recent experience as a Processor and/or Jr. Processor.
- Extensive knowledge of Conventional, FHA, VA, Freddie and Fannie guidelines.