Mortgage Assumption Specialist

2 days ago


Trenton, New Jersey, United States TEKsystems Full time
Job Title: Assumption Loan Processor

At TEKsystems, we're seeking a highly skilled Assumption Loan Processor to join our team. As a key member of our mortgage processing team, you will be responsible for evaluating initial assumption applications for eligibility based on investor guidelines.

Key Responsibilities:

  • Evaluate assumption applications for eligibility based on investor guidelines, including VA, FHA, Fannie Mae, Freddie Mac, and private investors.
  • Work with borrowers and applicants to receive and review loan applications, send/receive disclosures, pull credit, calculate debt-to-income ratios, obtain conditions, and submit complete packages to underwriting for a credit-qualifying review.
  • Perform reviews and processing with a comprehensive understanding of agency and other investor guidelines, all mortgage legal documents, and compliance issues.
  • Prepare and send new assumption applications to eligible parties.
  • Serve as the point of contact for all assumption questions, walking borrowers/applicants through the assumption process and setting expectations around processing, underwriting, and closing timelines.
  • Review incoming applications to determine completeness, working with borrowers/applicants to obtain missing documentation, such as bank statements, pay stubs, processing fees, property tax bills, etc.
  • Ensure NMLS certification is completed annually to maintain active LO status.
  • Prepare various TRID disclosures, including Loan Estimates, at the onset of the assumption process to ensure compliance with investor and regulatory requirements.
  • Submit complete applications to underwriting.

Requirements:

  • Knowledge of Calyx preferred.
  • Prior Assumptions experience is a big plus.
  • Loan processing experience.

About TEKsystems:

We're partners in transformation, helping clients activate ideas and solutions to take advantage of a new world of opportunity. As an industry leader in Full-Stack Technology Services, Talent Services, and real-world application, we work with progressive leaders to drive change. That's the power of true partnership. TEKsystems is an Allegis Group company. We are an equal opportunity employer and will consider all applications without regards to race, sex, age, color, religion, national origin, veteran status, disability, sexual orientation, gender identity, genetic information, or any characteristic protected by law.



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