Mortgage Processor III
DRG Professional Services has an exciting immediate hire opportunity for Mortgage Processor across the Missouri, Oklahoma, Kansas, and Arkansas markets. This is a fast-growing company in the banking industry that looks to continue to grow in 2021. Our client delivers the convenience and technological advantages of a large super-regional bank but with the local commitment and decision-making of a local community bank! The company also offers a comprehensive benefits package!
Job Title: Mortgage Processor 3
Under the limited direction of the assigned manager, the Mortgage Processor 3 processes single family 1-4-unit residential mortgage loan applications for approval.
ESSENTIAL DUTIES AND RESPONSIBILITES: (Other duties may be assigned)
- Reviews property appraisal reports and make recommendations to underwriting and will process the more complex loan files utilizing their experience and knowledge.
- Handles a high volume of data and must complete all duties with a high degree of accuracy and complete confidentiality.
- Works in connection with the lender to discuss and review new loan files as they are assigned. Reviews, analyzes, and validates the verified documentation within the loan file to ensure the loan file meets the requirements for the applicable loan program: Conventional, FHA, VA, Rural Development(RD), Bond/HUD 184 loans, bond or jumbo.
- Communicates with customers regarding loan files. Serves as a resource to the customer once the application is received in mortgage operations through loan closing.
- Reviews and processes tax return calculations on the more complex loan files. Analyzes the credit, income, and asset documentation in the file. Uses required income calculator worksheet to document W2 wage earners, social security, Schedule C, E, F and/or K1 income on 1040 tax return, as applicable.
- Ensures integrity of source and data documented in loan file follows loan program requirements and that each file complies with real estate regulatory requirements making additional requirements, as necessary.
- Reviews real estate residential property appraisals for conventional loan files as it pertains to the appraisal checklist. Makes any necessary comments regarding the appraisal in the checklist comment section for the underwriter.
- Updates LOS (Loan Origination System) and validate all data entry is accurate. Submits file through the AUS (automated underwriter system) if applicable, to have accurate findings for loan file. Follows AUS requirements and/or manual guidelines as it pertains to investor requirements as found in AllRegs and/or Selling Guides for Fannie, Freddie, FHA and/or VA websites as it pertains to loan program.
- Provides lender with any Preliminary Condition Requirements as required for the Underwriter to make a credit decision on loan file.
Issues NOI (notice of incompleteness) letter when Underwriting does not receive the necessary items to make a credit decision. Closes file for incompleteness if requested items are not received from borrower as directed on the NOI.
- Submits completed loan application files to underwriting for approval.
- Communicates with loan production associates regarding credit decisions and with any updates or guideline requirement questions. Updates the LOS (loan origination system) with condition requirements and any information that differs from original submission.
- Runs the Soft Credit Pull report and addresses any additional debt not shown on original credit report. Runs Early Check and final AUS, if applicable, to loan program and move file back to underwriter for final approval.
- Remains cognizant to the requirements of Fannie Mae, Freddie Mac through AllRegs and/or Selling Guides for both agencies and FHA, VA & RD guidelines in efforts to minimize any potential loss to Arvest and repurchase requests from investors.
- Understands and complies with bank policy, laws, regulations, and the bank’s BSA/AML Program, as applicable to your job duties. This includes but is not limited to; complete compliance training and adhere to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity.
- Supports and uphold the Mission Statement.
- Maintains a high level of cooperation and rapport with all associates to ensure accurate and efficient operations and service.
- Formulates and communicates new ideas and suggestions that will improve profitability and efficiency for the company’s overall operation.
- Fosters and always promotes the proper company image.
EDUCATION and/or EXPERIENCE
- High school diploma or general education degree (GED) required. Associates Degree Preferred.
- 2 years of mortgage processing experience, 1 of which must include extensive and detailed contact with customers, realtors and title companies required.
- 1 year of experience reviewing government loan (FHA) files required.
- Working knowledge of all real estate regulations including, but not limited to: RESPA, TRID, Truth in Lending Act, Fair Credit Reporting Act, Fair Lending, Reg B (ECOA), Reg C (HMDA) and Flood Act, Interagency Appraisal and Evaluation Guidelines required.
- Processing experience preferred.
SKILLS AND ABILITIES:
- Must be able to arrive at work on time, work on-site and have regular work attendance.
- Must be able to work cooperatively with other co-workers regardless of personality, presence, or communication style.
- Must be able to provide cordial customer service regardless of customer personality, presence, or communication style.
- Must be able to perform several tasks at once.
- Must be able to work in a stressful atmosphere.
- Must be able to rotate job tasks.
- Must be able to occasionally work overtime.
- Must be able to greet others cordially.
- Must be able to coordinate multiple and changing priorities.
- Must be able to verbally communicate with all other associates.
- Must be able to operate telephone, scanner, copier, and FAX machines.
- Must be able to move from department, division, or bank to department, division, or bank to attend meetings.
- Must be able to operate personal computer keyboard to create reports, schedules, and other appropriate documentation.
- The physical demands described here are representative of those that must be met by an associate to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.
- While performing the duties of this job, the associate is regularly required to stand, walk, sit, and to talk and hear. The associate must occasionally reach with hands and arms; stoop, kneel, or crouch.
- The associate may occasionally be required to lift or move up to 25 pounds.
- Specific vision abilities required by this job include close, distance and color vision and the ability to adjust focus.
- The work environment characteristics described here are representative of those an associate encounter while performing the essential functions of this job. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.
- The noise level in the work environment is usually moderate.
- To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
- The requirements listed are representative of the knowledge, skill, and/or ability required.
- Encompass (LOS)
- Loan Beam (Tax Return Review)
- Microsoft suite
The Company is an equal opportunity employer and will consider all applications without regard to race, sex, age, color, religion, national origin, veteran status, disability, genetic information or any other characteristic protected by law.