Mortgage Loan Processor II
3 days ago
At Bank of Utah, we are seeking a highly skilled Mortgage Loan Processor II to join our team. As a Mortgage Loan Processor II, you will be responsible for assisting Loan Officers/Originators in the origination/processing of mortgage loans.
Key Responsibilities:
- Performs initial file setup and input application information into the LOS System.
- Prepares and sends initial application and disclosure package after L.O.'s approval.
- Analyzes initial paperwork to determine what items are needed to proceed with borrowers loan request.
- Procures missing items from the appropriate parties.
- Indexes all borrowers documents into the correct document types in the LOS System.
- Determines with Loan Officer/Originator (L.O.) when to request Automated Underwriting System (AUS) and requests AUS when applicable.
- Reviews, analyzes, monitors, and maintains loan files for regulatory compliance from beginning to end of loan process.
- Prepares the proper forms and inputs correct information in the computer on all incomplete, withdrawn, denied, and approved but not accepted files.
- Accounts for receipts and expenditures on all loan files.
- Keeps data in computer up to date on each loan file.
- Determines what documentation is acceptable to verify borrowers income.
- Obtains proper income documentation and examines it for accuracy and consistency.
- Examines all applicable IRS forms and schedules to determine cash flow of self-employed borrowers.
- Determines what documentation is acceptable to verify borrowers assets for down payment and closing costs.
- Orders and analyzes Title Commitment and ensures that any and all easements, exceptions, etc. can be properly dealt with.
- Reviews purchase contracts and addendums to determine the structure of the sale.
- Orders and analyzes appraisal to determine if property is an acceptable risk.
- Orders Flood Certification and reviews for accuracy.
- Communicates with key people involved with the file the progress, any questions, problems, etc.
- Prioritizes and reviews files on a regular basis.
- Pre-underwrites/submits loan files to underwriting.
- Meets any and all underwriting conditions.
- Obtains hazard insurance with adequate coverage.
- Coordinates loan closings with closing department, title company, borrowers, builders, realtors, etc.
Requirements:
- 3-5 years experience in Mortgage Loan Processing.
- Broad knowledge of FHA, VA, Conventional, Utah Housing and non-conforming loan programs.
- Thorough knowledge of all IRS forms and schedules and can determine acceptable cash flow with little assistance.
- Thorough knowledge of title commitments and can resolve associated problems therewith with little assistance.
- Excellent verbal and written communication skills.
- Detail oriented.
- Able to submit files to underwriting with few conditions.
- High School Education.
- Experienced in Windows based software.
- Pass Level II Processor Test.
- Experience with mortgage loan software programs - Preferably Encompass.
- Excellent interpersonal and customer service skills.
- Time-management and organization skills.
- Ability to work with strict deadlines.
- Ability to explain technical concepts in simple terms.
- Ability to work in fast-paced environment.
- Willingness to learn new concepts to grow and advance.
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