Mortgage Loan Specialist

About the Role

Perform quality assurance reviews (Post-Closing Audit, Pre-Funding Audit) to ensure mortgage loan processes and documents comply with applicable CFPB requirements and guidelines. Examine residential loan documentation to ensure completeness, accuracy, and compliance with investor standards, and take corrective action as needed. Maintain tax and insurance records on mortgaged properties and ensure accurate and timely payment of real estate taxes and insurance on escrow and non-escrow accounts. Process all disbursements for customer escrow accounts and assist in resolving tax and insurance-related issues. Support day-to-day operations of the Mortgage Department, including escrows, closings, subordinations, loan documentation, quality control, tracking, reporting, and answering members’ basic mortgage questions.

Responsibilities

• Identify and resolve issues/errors in pre-funding and/or post-closing stages of loan file review, and take corrective action to ensure compliance with CFPB regulatory requirements.
• Examine loan files for accuracy, completeness, and compliance with policies, internal requirements, investor, and regulatory standards.
• Review and re-verify income, tax returns, consumer credit reports, debt-to-income ratio, asset statements, loan-to-value ratio, and employment as needed.
• Evaluate declined credit applications for accuracy based on established risk parameters to ensure conformance with HMDA, regulatory requirements, and product guidelines.
• Analyze escrow sufficiency to ensure funds are adequate for required payments.
• Monitor hazard insurance for consistent and uninterrupted coverage, including forced-place insurance when required.
• Ensure timely procurement and payment of real estate taxes.
• Provide information concerning the mortgage loan process and procedures via phone or in person.
• Post and balance real estate-related general ledger entries.
• Organize pending files and prepare pre-formatted reports.
• Standardize completed mortgage loan files.
• Post payments and disbursements from escrow funds as required.
• Follow up on post-loan closing documentation, new mortgage setups, pay-offs, and insurance.
• Assist in preparing loan-closing reports/papers for the attorney.
• Maintain application and approval records to comply with the Home Mortgage Disclosure Act (HMDA).
• Assist processors in reviewing real estate loan applications, including ordering appraisals, credit reports, wood infestation reports, and verifying income, employment, and deposits.
• Conduct interviews with loan applicants to support Loan Processors as volume warrants.
• Perform other duties as assigned.

Requirements

• High school diploma or equivalent.
• At least two years of related experience and/or training in real estate lending, or an equivalent combination of education and experience in a related field.
• Outgoing, enthusiastic, conscientious, and group-oriented personality.
• Openness to change and ability to perform essential duties satisfactorily.
• Compliance with Privacy Act, Office of Foreign Assets Control (OFAC), and Bank Secrecy/Patriot Act procedures (annual training provided).