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Loan Processors (Lawrence)

compensation: up to $27/hr based on experience
employment type: contract

Our Merrimack Valley banking client is hiring a team of Loan Processors/Closers to help them through a busy period. These are full time day shift jobs which could last a few months and possible go perm for the hired candidates. The primary duties consist of interacting with applicants, external contacts and underwriters to process borrower loan documentation; generates disclosures and commitment letters as well as calculating debt position and loan to value. Prepares loan closing documentation and performs a post-closing review while effectively communicating with members, attorneys and other employees. Specific duties include:
1. Primary loan types to be processed and closed: HELOCs, HELOANs and Mortgages.
2. Processing scope includes, but is not limited to, the obtaining, inputting, verifying and updating of data in the appropriate Loan Origination Systems (LOS) and Automated Underwriting Systems (AUS) which is pertinent to: applicant membership eligibility, credit reports, employment, income, assets, taxes, insurances, collateral valuations, flood certifications, appraisals, closing services, lender and third-party fees, rate locking, title work, HMDA and Adverse Actions.
3. Ensures that all loan notifications, commitment letters, disclosures and re-disclosures are complete, accurate and distributed to applicants as required by all applicable (client), Secondary Market, State and Federal laws, regulations, policies, procedures and guidelines. Ensures that all conditions are met prior to closing.
4. Serves as the primary contact with applicants verbally, in writing and in person, to: update applicants on loan status, obtain additional information and documentation, advise and coordinate events scheduling. Assists the call center and branch staff with questions regarding mortgage applications in process.
5. Prepares and submits loans to underwriting that meet all guidelines of Desktop Underwriter, PMI, and other investors as applicable.
6. Orders and reviews all title insurance commitments, appraisals, payoffs, and sales contracts while confirming accurate information. Orders and verifies evidence of adequate coverage of mortgage, hazard and flood insurances.
7. Reviews and compares loan estimates and draft closing disclosures to ensure all items are accurate, changes of circumstances have been documented, and required time frames for closing requirements have been met.
8. Ensures all transactions are properly disbursed in accordance with established timeframes.
9. Maintains up to date knowledge of all applicable (client), Secondary Market, State and Federal laws, regulations, policies, procedures and guidelines.
10. Works toward achieving sales/service goals by attending department meetings, one-on-one meetings and product knowledge and selling skills training, on an ongoing basis.
Requirements
• Minimum of two years mortgage experience or equivalent experience in a related field required.
• Demonstrated ability to effectively and efficiently process and/or close mortgage loans using the following skills; analysis and limited discretionary judgement such as credit review, calculation of standard income, appraisal review, AUS findings review, application of basic underwriting guidelines, etc.
• Sound understanding of all applicable Underwriting Guidelines and Secondary Market guidelines required.
• In depth knowledge and understanding of regulatory compliance necessary to successfully perform job responsibilities including but not limited to; TRID, HMDA, MDIA, and ECOA.
• Must be eligible to register with the Nationwide Mortgage Licensing System & Registry (NMLS) and must maintain registration with NMLS as a registered Mortgage Loan Originator (MLO).
• Proficient in use of MS Office, MS Outlook, MS Word, MS Excel.
• Proficient in use of Loan Origination Software, vendor software and internet sites.
  • Principals only. Recruiters, please don't contact this job poster.
  • do NOT contact us with unsolicited services or offers

post id: 6980858035

posted:

updated:

best of [?]