US Mortgage Loan Specialist

Calling all those who have US MORTGAGE experience! Several open positions are available!


SETUP, BACK OFFICE, AND DISCLOSURES
• Identify and categorized loan documents.
• Notify the MLO or Processor if documentation is incomplete or missing.
• Set-up loan files with accuracy in the LOS and submit the loan to processing.
• Run verifications as required
• Respond to queries
• Manage pipeline and process loans on time
• Prepare loan estimate and issue disclosures on time

QUALITY CONTROL
• Will work on fraud audit detection, junior underwriting, review appraisal and title documents
• Review loan file for fraud, identify red flags and ensure risk factors are addressed accordingly
• Review income, asset, and other credit documents
• Review AUS findings and make sure requirements are met
• Ensure loan file met program requirements
• Recommends fraudulent file be denied funding
• Review loan documents (credit reports, income documentation, tax returns, assets, appraisal reports, title reports, insurance documents, fraud prevention products, purchase contract, etc) for accuracy and completeness.
• Be able to interpret AUS findings and transmittal summary
• Knowledgeable on closing disclosures and can interpret settlement statement.
• Make recommendations based on the overall worthiness of the borrower, layering of risk and all program requirements
• Calculate qualifying income and determine verifiable assets for closing cost & reserves.
• Identify quality concerns and red flags and validate accuracy of associated risk to the borrower or property/collateral profile.
• Maintain current level of knowledge on all requirements by consistently researching and reviewing the applicable guidelines, program updates, credit overlays and changes.
• Responsible for verifying the accuracy of the mortgage loan terms, the loan amount, and product type before sending to the closing.

DOC DRAWING
• Draw accurate loan documents using the terms and conditions as specified on the Underwriting Approval and in accordance with specific product and document requirements.
• Review and verify lock information and final payment sheet for accuracy of data.
• Run compliance tests to ensure loan passes all appropriate regulations.
• Review loan for compliance with RESPA, RESPA tolerances, TILA and MDIA.
• Review prepared documents for accuracy prior to documents being forwarded to title/escrow or branch location for member signatures.
• Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including BSA, RESPA, TILA and AML laws appropriate to the position.


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LOAN DELIVERY
• Completes LQA, Early Check and/or Investor specific audits prior to loan sale.
• Prepares and delivers loan files to Secondary Market Investors and GSE’s.
• Coordinates the release of collateral files to Secondary Market Investors and GSE’s.
• Communicates with the Servicing department regarding the boarding of loans.
• Reviews and responds to investor inquiries related to delivery issues and/or suspense conditions.
• Provides suspense reports to branch offices and directly follows up with branch staff to ensure timely resolution of suspense conditions.
• Monitors pipeline for upcoming expiring commitments.
• Prepare & send out post-consummation CD
• Interacts internally with various departments.
• Maintains executive data and ad hoc reports as required.

DISCLOSURES COMPLIANCE
• Audit loan disclosures to cover all aspects of compliance-related regulations governed by applicable federal and state consumer protection laws.
• Determines if loans were properly disclosed at multiple stages of the loan.
• Manages pipeline of each day to meet production and quality metrics.
• Documents findings to provide an accurate and detailed picture of the loan defect.
• Writes clear, concise and accurate loan defects and the possible cure.
• Maintains knowledge of all regulations governed by applicable federal and state protection laws.
• Performs other duties as assigned.

Requirements:
• Graduate of a 4-year college or university with major course work in a discipline related to the requirements of the position is a plus. (Will consider the equivalent combination of job experience & education that demonstrates the ability to perform the essential functions of this job.)
• At least 1 year of working experience in US Mortgage is preferred
• Experience in mortgage underwriting is an advantage
• With related work experience in banking/finance are welcome to apply
• Fresh graduate with a very good analytical and judgment skills may apply
• Excellent communication (verbal and oral) skills is required
• Must work effectively in a fast pace environment with low tolerance for error.
• Able to handle a great variety of tasks and responsibilities simultaneously

Work Arrangement
• Temporary Work from Home arrangement
• Fixed night shift
• Fixed 2-days off a week
• Competitive Compensation & Benefits: Night Differential, Life and Accident Insurance, HMO, leave credits convertible to cash, attendance bonus, government-mandated benefits
• Comprehensive trainings to boost your career