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Mtg Loan Processor

Company: Xenith Bankshares, Inc.
Location: Reston
Posted on: May 3, 2021

Job Description:

Position Description:

The position is responsible for the administrative responsibilities of the completion of residential mortgage loan applications and supporting documentation and properly packaging loan submissions for further underwriting as required by policy and investor standards.

Position Accountabilities:

  • Review all Loan Applications including 1003, GFE and TIL for accuracy, completeness and compliance.
  • Provide Loan Officer and/or Loan Officer Assistant with complete list of all missing documents.
  • Calculate accurate debt-to-income (DTI) and loan-to-value (LTV) ratios
  • Send/receive all verification forms including but not limited to VOR, VOM, VOD, Social Security, VOE, condo/PUD, 4506T and Flood Certifications. Conduct regular follow-ups with outside sources for outstanding documents.
  • Ensure that all HMDA information on Loan Application is complete.
  • Maintain accuracy and completeness of Status on all files in Encompass.
  • Analyze Risk Assessment from Kroll Factual Data. Retrieve Social Security verifications if TruAlert is less than 100.
  • Rerun AUS after receipt of all documents and prior to loan submission.
  • Upload all information to Encompass.
  • Order all FHA Case Numbers.
  • Send/receive all pertinent information for issuance of Hazard Insurance policy
  • Update Credit Reports.
  • Review all appraisals for required values and notify Loan Officer regarding discrepancies so that (a) contingencies may be removed from Sales Contract (b) loan amount conforms to guidelines.
  • Review Title work for seasoning requirements, liens, entity issues etc.
  • Review Hazard Insurance for required coverages.
  • Maintain communication with Applicants, Loan Officers and Loan Officer Assistants throughout the processing period, assisting them with any questions and notifying them of any additional information required and / or be responsible to get them yourself.
  • Monitor incoming mail, faxes and email for requested information.
  • Complete final evaluation and analysis of completed application packages, prepare/send files to underwriting for loan submission.
  • Review conditional approval and submit to Closing Department all documents referred to as the Closing side package.
  • Review final HUD 1's.
  • Update Encompass with accurate reason(s) for the adverse action as soon as it is determined that applicants have withdrawn, cancelled, or have been denied, so compliance can send required notifications.
  • Update status of all loans in process in prescribed manner i.e. Processing Pipeline.
  • Ensure any confidential consumer information on paper is stored in secure storage cabinets provided.
  • Maintain thorough knowledge of documentation required to meet underwriting and compliance requirements
  • Provide guidance and training to less experienced personnel
  • Cross train coworkers
  • Other duties as assigned.

Organizational Relationship:

This position reports to the Manager - Corporate Processing.

Position Qualifications:

Education & Experience

  • High school diploma or equivalent work experience
  • Minimum 3 years mortgage lending experience to include prior processor experience.

Knowledge & Skills

  • Working knowledge of FHLMC, FNMA, FHA, and VA documentation guidelines and mortgage lending regulations including Truth-in-Lending, RESPA, ECOA, FDPA, HMDA and CRA
  • High degree of professionalism
  • Excellent customer service skills
  • Excellent interpersonal, communication, and organization skills
  • Ability to handle multiple tasks
  • Flexible, able to adapt to change
  • Advanced math and moderate accounting skills
  • Basic analytical and problem solving skills
  • Basic knowledge of mortgage loan processing criteria
  • Good communication skills, written and oral, in relating to internal and external customers
  • Good organizational skills
  • The ability to develop a basic understanding of underwriting guidelines
  • Ability to effectively perform multiple tasks under aggressive time constraints
  • Ability to work with minimum supervision
  • Moderate computer skills relevant to Microsoft Office Suites
  • Knowledge of DU, LP, GUS.
  • Knowledge of Encompass a plus.

We are proud to be an EEO/AA employer, Minority/Female/Disability/Veteran. We maintain a drug-free workplace.

Keywords: Xenith Bankshares, Inc., Reston , Mtg Loan Processor, Other , Reston, Virginia

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