RE Data Management Spec

Real Estate Data Management Specialist

Description $1000 Signing Bonus effective 1 / 20 / 2024 Note : All full-time positions include exceptionally low medical premiums in addition to a whole host of other benefits.

Hours For Position : Monday - Friday 8 : 00am-4 : 30pm

Hiring Range - $24.82 / hr - $31.02 / hr

Summary Of Position : The Real Estate Data Management Specialist (REDMS) is responsible for effectively handling the loan file set up of incoming new retail and correspondent 1st mortgage and home equity loan applications to include timely mailing of a Welcome Package and all other required disclosures as necessary, for reviewing the applications to determine the documentation requirements, for communicating and requesting the required documentation from the members, for handling and distributing incoming mail, and to handle requests for loan files to be cancelled, withdrawn or denied ensuring consistency, timely delivery, and compliance with regulatory requirements.

Principal Responsibilities

• Conducts a thorough review of new retail and correspondent 1st mortgage and home equity loan applications to determine documentation requirements; and, to complete necessary data entry in Mortgage Cadence in order to complete the loan application and generate required regulatory disclosures, registrations, rate locks and creation of skinny files.
• Generates and delivers to members a Welcome Letter to include a list of documentation needed in order to proceed.
• Monitors, reviews, and distributes incoming mail and follows-up with documentation from members, lenders and vendors via electronic VLF delivery, mail, email, fax and member delivery.
• Pulls data from applicable system applications for the following information as necessary for the retail and correspondent 1st mortgage and home equity loans files : AVM, property taxes, property assessments, HMDA, property deeds, member account statements, condo questionnaires, tax transcripts, SSA checks, etc.
• Submits retail and correspondent 1st mortgage and home equity loans to FNMA Desktop Underwriter to determine loan eligibility.
• Orders appraisals, flood certifications, title reports and credit supplements as needed and directed.
• Reviews and updates closing costs / fees in Mortgage Cadence as necessary. Re-discloses in compliance with RESPA and Reg Z requirements.
• Facilitates new Tower FCU membership accounts on 1st mortgage and home equity loan files in which the borrowers (OR as necessary for borrowers applying through all channels that) are not yet Tower FCU members.
• Responds to incoming member calls and inquiries to update on loan status, documentation still needed and general information on the loan.
• Acts as a primary contact point for present and potential members, Correspondent lenders, and Loan Advisors in order to answer questions, loan status inquiries, and coordinate additional documentation needed. Coordinates correspondence and follows-up activities, both verbal and written, between members, Loan Advisors, Consultants and Correspondent Lenders and Management.
• Monitors Pre-Approval pipeline for all Loan Advisors to determine age of loan files and to send out 10 Day Letters to members as necessary.
• Manages submission of cancelled, withdrawn and denied files for Loan Advisors to our Quality Assurance Underwriters to ensure compliance with all HMDA Reg B and all other regulatory compliance requirements.
• Works in collaboration and partnership with all Real Estate Lending Team members and other Tower FCU employees / departments.
• Maintains detailed knowledge of the Real Estate Lending Department's guidelines, policies, and procedures to ensure that all loans conform to establish underwriting and documentation standards.
• Maintains up to date knowledge of all first mortgage and home equity loan products offered by the credit union as well as Investor, MI and regulatory guidelines to ensure that all loans meet guidelines and regulatory requirements.
• Performs related duties and tasks as assigned.

Required Qualifications

Competencies

Working Conditions