Loan Coordinator

4 weeks ago


Springfield, Illinois, United States Security Bank Full time
Job Summary

This role reports directly to the VP of Mortgage Operations and provides prompt and courteous service to external and internal clients. The successful candidate will be responsible for processing loans in accordance with time requirements, coordinating early documents and final closing documents, and preparing and presenting final disclosures to parties involved in the transaction.

Key Responsibilities
  • Reviews opening file documentation provided by the mortgage loan originator, including income, assets, credit report, early disclosures, and puts the file into stacking order.
  • Discusses transaction details with the mortgage loan originator, AVP of Loan Processing, and Underwriter, as necessary.
  • Updates loan origination software system as necessary.
  • Verifies customer identification.
  • Completes supplementary file documentation, including documenting customer identification, ordering flood certificates, etc.
  • Determines the best mortgage insurance option and orders the certificate.
  • Enters information in secondary market investor underwriting applications to be further reviewed by the Underwriter.
  • Reviews timelines to ensure the appraisal was ordered and follows through required steps when received, including updating the value in the loan origination software system.
  • Updates and submits the Uniform Underwriting Transmittal Summary and loan file to underwriting.
  • Reviews file and closing conditions prior to closing and discusses conditions with the Mortgage Loan Originator.
  • Reviews title company commitments to ensure outstanding exceptions are cleared prior to closing or as part of the closing process.
  • Gathers outside information needed from partners and vendors for the closing disclosure document relating to realtor commission and various inspections.
  • Obtains and reviews property insurance information to ensure sufficient amount and type of property insurance is in place prior to closing.
  • Completes all the necessary fields in the loan origination software system required to produce a Closing Disclosure.
  • Balances and uploads loans on CSI core system.
  • Completes verbal verification of borrower's employment prior to closing.
Requirements

High school diploma; two years of prior processing experience and the ability to continually learn and adhere to government requirements, secondary market guidelines, and various software systems; practical experience with basic hardware and software.

Preferred education and experience: three to five years of prior experience in a fast-paced mortgage lending environment.



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