Under direct supervision, this position performs all daily functions associated with processing a consumer/residential loan application. Should be able to perform many of the duties listed below since it is at the intermediate level of loan coordinator.
Responsibilities:
Performs automated processing functions and obtains credit information for new loan applications including the preparation of all necessary disclosures in compliance with regulatory guidelines and timeframes.
Review loan applications for accuracy, completeness and conformity to loan programs
Make corrections if necessary
Verify rate/add points, fees, etc.
Review credit report/complete red flag checklist
Manage E-Consent, Loan Prospector (LPA),
Disclose Loan Estimate and Intent to Proceed
Order Appraisal/AVM
Process Credit Card
Send out requests for VOEs, Tax Transcripts
Order Fraud reports
Electronically manage all incoming loan documentation, telephone inquiries, problem solving
Interact as needed with branch/bank staff questions and perform various tasks/projects as requested by management.
Prepare/send out document check list (“needs” letter) to borrowers
Calculate income and complete income worksheets
Review assets needed for down payment and closing costs
Review/analyze income and assets
Request/review contract for sale of subject property (purchases only)
Update information in LOS based on documentation provided by the borrowers
Assign loan to underwriter for final review/decision
Consumer Loans: read and analyze AVMs
Assists in daily department routine including telephone inquiry and problem solving with customers, relationship managers and branches with questions or concerns. Performs various tasks, projects as requested.
Performs automated processing functions and obtains credit information for loan pre-qualifications and applications including the preparation of all necessary disclosures in compliance with regulatory guidelines and timeframes
Orders credit reports, Verifications of Employment (VOEs), tax transcripts and appraisals
Processes credit application fee payments.
Tracks and organizes all loan documentation in a timely manner. Inputs application data into system and establishes files. Prepares correspondence relative to completion of file including requests for further documentation and communicates this information with the borrower(s) and mortgage representatives.
Performs other duties as needed.
Qualifications:
High school diploma or GED
2-5 years of related experience
General knowledge of regulatory requirements for residential/consumer loan originations
Windows/Excel/Loan Origination Systems
Knowledge of residential loan processes and qualifications for credit worthiness.
Ability to organize work and complete tasks on time.
Ability to deal with customers and mortgage representatives in a courteous and efficient manner.
Good interpersonal, oral and written communication skills.
