Mortgage Loan Processor - 8/21/2016
Virginia Beach, VA
JOB DESCRIPTIONAPPLY Primary Duties :
?Reviews all new loan applications within 72 hours of receipt of file to ensure compliance with all investor agency/federal compliance guidelines.
?Updates loan files, the mortgage computer system, and the tracking system as information is received; prepares final loan package for closing and final approval.
?Requests information as needed from customers, obtains credit reports, ordered appraisals, title binders, surveys and tax transcripts as well as mails verification of deposit, verification of employment, and verification of mortgage forms; and updates loan files and tracking systems when forms are returned.
?Reviews and analyzes credit documents for accuracy and compliance with investor/ agency guides. Identifies potential problems and discusses them with loan officer and/or supervisor.
?Submits the loan file directly to the underwriting department without prior review from supervisor. If necessary prepare cover letter highlighting compensating factors. Follow up on all outstanding underwriting conditions and resubmit as needed.
?Provide calculation of borrower?s income according to investor/agency guides, including but not limited to borrowers with multiple sources of income.
?Follow and monitor the schedule of closing with title companies.
?Prepares loan file for closing, secure MDIA compliance review and hazard insurance binder, H06 for condominiums and PUD?s, completion of pre-closing checklist.
?Final CD review
?Update Loan Officers with current file status weekly.
?Remain informed of all aspects of investor/agency/compliance policies that affect the processing of mortgage loans.
?Remains knowledgeable of all loan programs offered.
. Required Knowledge, Skills & Abilities :
?Must have a minimum of 5+ years Mortgage Loan Processing experience
?Full understanding of FHA/VA, FNMA, FHLMC, FDIC Compliance, ATR/QM, mortgage audit underwriting, appraisal and investor guidelines
?Extensive knowledge of evaluating tax returns and working with K-1 income, business returns, self-employed borrowers, and a wide variety of income sources preferred
?Strong knowledge of TRID ? LEs, CDs preferred
?Closing experience helpful but not required
?Ability to function efficiently and effectively under deadlines and stress while maintaining a professional and mature profile
?Must be able to manage time, prioritize and multi-task
?Must be detail orientated and have the ability to put puzzle pieces together
?Strong Organization skills including paper files, electronic files, emails etc.
?Work extremely well with internal and external customers using excellent written and oral communication skills
?Self-starter and ability to catch on quickly
?Self-motivated to research and problem solve
We are an equal employment opportunity employer and will consider all qualified candidates without regard to disability or protected veteran status.