Mortgage Loan Processor - Mortgage Processor - Loan Processor

Liberty Savings Bank • Wilmington, OH 45177

Posted 4 days ago

Job Description

Job Summary:

Provides support to Mortgage Production by receiving and splitting new loan files, assuring the information within the Loan Origination System (LOS) is correct, inputting and processing all initial/re-disclosures, and also mitigating risk by ensuring the loan meets compliance and internal/investor guidelines.

Essential Functions:

  • Receives new loan files via Loan Origination System (LOS).
  • Splits documents of new loan files into appropriate index according to document type
  • Reviews loan information input by Third Party Originators (TPO), revises incorrect or inputs missing required information into the Loan Origination System (LOS).
  • Mitigates risk by reviewing the initial Loan Estimate disclosures for accuracy and compliance (RESPA/Reg Z Regulations); calculating Loan Officer Compensation, verifies all fees are disclosed according to Regulations and ensures all amounts are accurately disclosed to borrower(s); re-discloses Loan Estimate for loan changes, as required.
  • Orders Flood Determinations, Fraud Guard (Fraud Detection tool), and Tax Transcripts on all new loans.Performs a verification of address at USPS website for every loan. Orders SSN verification and Mortgage Insurance (MI) as needed.Retrieves Tax Transcripts, Flood Determinations, and SSN Verification after order is placed. Reviews and indexes all documents once they have been received.
  • Performs necessary follow up on all Third Party Origination (TPO) appraisal orders to include retrieval from the vendors website, printing the appraisal to the Loan Origination System (LOS) and verifying appraiser against all Excluded Parties List and FHA approved appraiser Roster. Works closely with the Wholesale Underwriting staff to ensure all conditions for appraisal approval are ordered, tracked and reviewed.
  • Processes all FHA Case Number assignments.
  • Processes appraisal transfer requests, as necessary.
  • Reviews new loan files to ensure minimum documentation is met before submitting loans to Underwriting Queue.Notifies Account Executive of any Pre-UW deficiencies.
  • Receives and reviews Underwriting Conditions" for accuracy and sufficiency before submitting to the Underwriter.
  • Verify proper Limited Denial of Participation (LDP)/Government Services Administration (GSA) paperwork for each party associated with each loan.Input Limited Denial of Participation (LDP)/ Government Services Administration (GSA) screen within the LOS.
  • Performs Clear to Close check, to include check of Final Loan Estimate, and 1stsignature of the HMDA Checklist on each loan file.
  • Verifies and ensures accurate Home Mortgage Disclosure Act (HMDA) information for Canceled/Denied loans.Compares loan information with the Loan Origination System (LOS), completes the Home Mortgage Disclosure Act (HMDA) checklist and cancels the Flood Determination.
  • Communicates with Third Party Originator (TPO) on a variety of inquiries, follow up items, and scenario questions.
  • Responsible for creating and maintain Policy and Procedures for given tasks.
  • Maintains customer confidence and protects operations by following the Privacy Policy and keeping information confidential.
  • Complies with bank procedures and follows regulatory, operational and security guidelines

  • Knowledge, Skills and Abilities:

  • High school diploma or equivalent required
  • 2 years mortgage industry experience preferred
  • Understanding of mortgage related documents and compliance test preferred
  • Must be able to utilize industry-related software
  • Demonstrated abilities in accuracy/thoroughness and excellent written/verbal communication skills are required.
  • Must be able to change priorities quickly, work effectively under time constraints and contribute to the team effort.
  • Ability to learn word processing, spreadsheet and industry-related software is required, Word and Excel preferred.


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