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Sr Mortgage Processor

This job is no longer available

Employer
TruStone Financial
Posted
Wednesday, April 11, 2012
Closes
Friday, May 11, 2012
Location
Plymouth, MN
Category
Job Type
Employment Status
Salary
Low 50s plus incentive; salary dependent on experience

Further information

Job Overview

The Senior Mortgage Processor (“Processor”) is responsible for reviewing first mortgage loans for completeness, updating information in the computer system, ordering documentation including credit, appraisal, title work, income/asset verification, etc. required to meet portfolio and investor program guidelines.   Processor will package first mortgage conventional loan requests and submit to MLS Underwriter for approval; FHA, VA and USDA loans will be uploaded to a secondary market investor. Provide quality customer service between and for internal and external customers.   

 

Major Tasks, Responsibilities and Key Accountabilities

Order documentation from the borrower or external sources that are needed to facilitate a loan decision, including income and asset documentation, appraisals, title work, etc.

Review income documentation, performing complex analysis of tax returns when needed, to compute borrowers qualifying income

Review asset documentation to insure assets are sourced and seasoned per program guidelines and the borrower has sufficient funds to close the transaction

Review the appraisal to insure compliance with HVCC and the TFFCU guidelines

Review title work and resolve any issues to insure no material defects will encumber the property

Review credit information to insure the borrower meets program guidelines

Submits first lien loan packages to Underwriting for approval.

Prepares loan package for submission to closer

Work with Loan Originator, Underwriter and Closer to resolve issues and facilitate a smooth loan process and closing for the borrower

Communicate with borrower, Realtor, Closing Agent regarding documentation required, file progress, closing arrangements, etc, while maintaining borrower confidentiality

Participate in training and continuing education to stay abreast of changing Laws and Regulations regarding processing and underwriting of Fannie Mae and FHA Loans.

Answer incoming calls, assisting applicants with questions about loan files in process; or re-directing the caller to appropriate staff in other areas of MLSI or the Credit Union.

Maintains up to date knowledge and adheres to all regulations, policies, procedures and standards that pertain to this position.

Capable of handling a pipeline of 50-75 loan files, with an average processing time to approval that meets current department goals. 

Prepare and submit reports as assigned

Perform other duties/projects as assigned

Train other processors so they are capable of doing FHA, VA, and USDA loans.

Monitor other processors effectiveness on FHA, VA, and USDA loans.

Clear all stipulation on FHA, VA, or USDA submitted to outside lenders.

                               

 

Major Skills and Competencies

·         Knowledge of mortgage product and underwriting guidelines, and regulatory requirements; with emphasis on

      FHA, VA, and USDA loans.

·         Must possess excellent oral and written communication skills

·         Maintain a high level of business acumen with the ability to develop strong relationships with borrowers, branch personnel and industry partners

·         Ability to identify and facilitate change in a deadline driven, highly regulated environment

·         Competency in basic math skills such as calculating interest and mortgage payments

·         Attention to detail and problem solving skills are essential

·         Comfortable working with and balancing data in a variety of loan systems

·         Must work well under pressure and be able to meet externally influenced deadlines

·         Solid time management skills and the ability to organize, prioritize and perform multiple tasks simultaneously

 

Physical Job Requirements

Frequent periods are spent standing or sitting in the same location with some opportunity to move about; occasionally there may be a need to stoop or lift light objects (typically less than 8 pounds).

 

·         Ability to accomplish the described responsibilities through the use of computers and technology.

·         Ability to sit and/or stand for extended periods of time.

·         Ability to work in a changing, challenging and fast paced work environment.

·         Variable stress levels.

·         Ability and willingness to work overtime as needed

·         Provide own transportation

 

Environmental Job Requirements

Typically located in a comfortable, quiet indoor area. There may be regular exposure to mild physical discomfort from factors such as dust, fumes or odors, temperature extremes, strong drafts, or bright lights.

 

Minimum Qualifications

·         4-year college degree or equivalent work experience in the mortgage lending field is required

·         Minimum of 5 year’s experience in FHA, VA, USDA and Conventional and portfolio loan processing. 

·      Pass the pre-employment Drug Test and Background Check

·      Must meet standards for financial institution bonding.

 

TruStone Financial