Mortgage Operations Specialist / Assistant

Job Description

Job Description

Purpose :

To assist the Department Manager(s) in supervising the daily operations of the lending team. Coordinate, collaborate, and support all facets of the residential loan originations area to ensure operational efficiency and productivity. Work in conjunction with the managers including assigned functions and provide assistance on the daily workflow and day-to-day business tasks and responsibilities. Upward mobility readily attainable for the successful candidate.

Job Functions :

• Work directly and alongside department heads on all aspects of the loan process. Including loan application review, second review of underwriting conditions, preclosing and quality control findings.
• Monitor and manage workflow with management and maintain proficient turnaround and response times.
• Assist with the underwriting process, by thoroughly reviewing the loan packages for approval purposes, proactively identifying solutions for potential underwriting issues, and working in conjunction with the underwriter to monitor findings and a resolution process.
• Work cross-functionally with team members to complete tasks; coordinate with processors and other areas to ensure smooth flow of transactions.
• Monitor all requests for denied / withdrawn / incomplete files to keep in compliance with ECOA and RESPA.
• Daily workflow will include the QC review of TRID compliant Loan Estimates (LEs), Change of Circumstances (COCs) and Closing Disclosure (CD) and the review of loans for compliance with all mortgage-related regulations (RESPA, TIL, HMDA, Reg. B, etc.) and the required disclosures.
• Responsible for ensuring that all loan documentation is complete, accurate, verified and complies with bank policy and guidelines.
• Review and analyze all necessary documentation, including borrower docs and third-party docs, obtain missing information and determine qualification.
• Perform a quality review and analysis of borrower’s credit, employment, income, and assets as required by the particular loan program and / or investors.
• Review all required verifications, documentation and subsequent follow-ups and ensure that all timeframes and compliance requirements are being met.
• Verify conditions of approval which may include customer income / assets documentation, credit and property review.
• Review bank prepared forms for accuracy and inconsistencies. Suggest or identify defects that can be adjusted and improved.
• Maintain product knowledge and stay up-to-date on changes to market conditions
• Manage a large pipeline while meeting product specific turn time requirements.
• Assist management, as required, in the periodic loan audits to ensure loans comply with bank policy and meet State and Federal regulations.
• Complete prefunding file reviews to ensure all loans meet agency and investor standards in addition to complying with Federal, State rules, regulations, and laws.
• Other projects and duties as assigned by department managers.

Required Knowledge, Skills and Abilities :

Salary Range :  $65,000 - $85,000

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