Mortgage Loan Processor II

Major Job Function:

Assists Loan Officers/Originators in the origination/processing of mortgage loans.  Maintains loan files to ensure files are in compliance and of investment quality.  Coordinates loan closings.  Assists in on the job training of Level I processors if a Level III processor is not available.

Experience/Skills necessary to perform duties:

• 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

Regular Duties and Responsibilities:

• Performs initial file setup.  If the file is not in LOS System, input the application information into the 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.  Examines AUS feed back to ensure data coincides with documentation in file.
• 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  Prepares the proper forms and inputs correct information in the computer on all incomplete, withdrawn, denied,  and approved but not accepted files.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.  Fills out income worksheets.
• 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.  Obtains and analyzes proper asset documentation. 
• Determines what type of credit report to obtain to properly verify credit and liabilities of borrower.  Obtains and analyzes proper credit documentation. 
• 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. Verifies accuracy of numbers in LOS system.
• Orders and analyzes appraisal to determine if property is an acceptable risk.
• Orders Flood Certification and reviews for accuracy.  Provides Flood notice to borrower in a timely manner when required.  Obtains flood insurance when applicable.
• Orders CAIVRS, IDV, GSA’s and LDP’s – if a borrower needs to be cleared, knows what action to take to determine if borrower can be cleared. 
• Orders case number for FHA & VA loans.
•  Scrutinizes and logs all incoming documentation.  Upon analysis immediately requests further documentation if necessary. 
• Communicates with “key” people (loan officer/originator, borrower, builders/realtors, vendors) involved with the file the progress, any questions, problems, etc. on the file.
• Prioritizes and reviews files on a regular basis.
• Pre-underwrites/submits loan files to underwriting.  Addresses any conditions that may arise in underwriting prior to underwriting.
• Obtains correct PMI coverage when needed.
• Meets any and all underwriting conditions.
• Obtains hazard insurance with adequate coverage.
• Coordinates loan closings with closing department, title company, borrowers, builders, realtors, etc. and submits loan to closing.
• Assists L.O. in preparing construction loan files for approval by the Construction Loan Committee.
• Assists L.O. in locking loans.
• Requests Mortgage Purchase agreement on all Utah Housing Loans.
• Attendance is an essential function of the job.
• Other duties as assigned.