Loan Specialist

Qualifications and Education Requirements

Department/Group: Operations Dept

Job Code/ Req#: CV24

Location: Corporate

Travel Required: N/A

Level/Salary Range:

$18 Per Hour

$20 Per Hour

$22 Per Hour

Position Levels:

Loan Specialist III

Loan Specialist II

Loan Specialist I

Reports To: Processor, Processing Mgr

Effective Date: 01/01/2024

Responsible For: NA

Hours Per Week: 30 - 40

Job Description

ROLE AND RESPONSIBILITIES The position will be Responsible for Loan Estimate & Loan Disclosures (SOP STEP 1) Responsible for Appraisal Order and / or HOA Cert Order (SOP STEP 2) Responsible for Loan Submission to Underwriting (SOP STEP 3)

ESSENTIAL KNOWLEDGE

Office 365, Basic math computations, and SFG Essential Knowledge Chart (Level III)

QUALIFICATIONS AND EDUCATION REQUIREMENTS

• No Experience (LS III)

• 1 Year Mortgage or Real Estate experience (LS II)

• 2 Year Mortgage or Real Estate experience (LS I)

• DISC test

PREFERRED SKILLS

• Strong Communications Skills

• High Organizational Skills

• Ability to work in team environment

• Ability to work without supervision

ADDITIONAL NOTES

See Role and Responsibilities Addendum for additional job requirements

LOAN SPECIALIST, ROLE AND RESPONSIBILITIES (ADDENDUM)

• Responsible for Loan Estimate & Loan Disclosures (SOP STEP 1)

  • Review Loan file for completeness and accuracy

  • Efficient use of DocMagic or DocuSign systems for Borrower

  • Efficient in all Loan Pricing Engines

  • Responsible to request wet signatures as needed on SSI & 4506 Verification Forms

  • Responsible for Tracking & Milestone Update notifications

• Responsible for Appraisal Order and / or HOA Cert Order (SOP STEP 2)

  • Responsible to track Order until Inspection Date is set

  • Review Appraisal and send Value notification upon receipt

  • Order SSR's

  • Order COC as necessary (if value is different than submission)

  • Order Value Rebuttal as necessary

  • Order 1004D as necessary

  • Order HOA Cert, Limited of Full Questionnaire when applicable (CONV, FHA)

  • Responsible for Tracking & Milestone update notifications

• Responsible for Loan Submission (SOP STEP 3)

  • Ensure File has cleared Disclosures and is in line for UW

  • Request Escrow Doc package including Estimated Closing Statement based on initial LE

  • Responsible for Tracking and Milestone Update notifications