Senior Process Associate - Loan Setup & Shipping
Job Description:
Job role:
1. Reviewing and validating information from LOS against various documents viz., 1003,
1008, AUS, Initial Disclosures, HOI, Income and Asset documents
2. Rerun AUS if found discrepancies in the information entered in LOS and highlight the
discrepancies to loan officers.
3. Review the credit reports and validate liabilities. Highlight red flags (if any)
4. Placing the order for Third party documents like Title, Property Profile, Appraisal,
Flood Certificate and Hazard Insurance documents
5. Run compliance test on the loan to assess risks and the auditor regulatory exposure
6. Reviewing the source of income and confirming if the DTI is within the permissible
limit as outlined in the loan program
7. Reviewing Title Report & extracting Tax information from County website or NERT
portal
8. Indexing all mortgage documents manually according to the segments
9. Analysing the requirement of payoff stating and placing the order as and when
required
10. Communicating with client over the issues on any reviewed documents or
requesting missing documents for pushing the file to Processing
11. Assisting & communicating with loan processor to identify the documents
requirement which determines whether the loan is good to move to underwriting.
12. Review loan documentation for accuracy, completeness, and compliance with
banking regulations and investor guidelines to build Investor Package
13. Hands on experience in compiling, stacking & monitor all investor deliveries
14. Report to management any outstanding issues immediately and on a scheduled
basis
Experience
1. Two or more years of experience in Loan Setup/Loan Processing
2. Exposure to the Empower/Lending QB/Encompass Loan Origination System is
necessary
3. Strong working knowledge of FNMA, FHLMC and Government Loans guidelines
4. Demonstrated abilities to communicate, both verbally and in writing, to fellow
employees, customers, and external vendors in a professional, articulate, and
respectful manner until the loan proceeds to Underwriting
5. Proven experience meeting deadlines, while producing error-free work
6. A passion and desire to continuously improve their style and work productivity
7. Strong technical skills and ability to work in a paperless environment
8. Working knowledge in Microsoft Office applications ((Excel, Word and Outlook) is
preferred
Knowledge of documents required for FHA, USDA, VA, conventional, ARM, DPA Loans
etc.
Key Skills :
Company Profile
As a leading provider of business process outsourcing solutions, our client helps mortgage organizations do more with less, so they can scale quickly and grow business. They support every task associated with originating, servicing and purchasing loans—leveraging automation to reduce process turn times and costs while enhancing loan quality. Our global team works seamlessly behind the scenes, 24/7, allowing clients to close, sell and service loans faster than they could ever imagine.
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