What are the responsibilities and job description for the Loan Coordinator position at Security Bank?
Description
This position reports directly to the VP of Mortgage Operations, provides prompt and courteous service to external and internal clients. Processes loans in accordance with the time requirements. Coordinates early documents and final closing documents on mortgage loans and prepares and presents the final disclosures to parties involved in the transaction. Maintains confidentiality of Bank's customers and processes while adhering to Information Security standards.
Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions:
1. Reviews opening file documentation provided by the mortgage loan originator (MLO), including income, assets, credit report, early disclosures, and puts the file into stacking order.
2. Discusses transaction details with MLO, AVP of Loan Processing, and Underwriter, as necessary.
3. Updates loan origination software system as necessary.
4. Verifies customer identification.
5. Completes supplementary file documentation, including documenting customer identification, ordering flood certificates, etc.
6. Determines the best mortgage insurance option and orders the certificate.
7. Enters information in secondary market investor underwriting applications to be further reviewed by the Underwriter.
8. Reviews timelines to ensure the appraisal was ordered and follows through required steps when received, including updating the value in the loan origination software system.
9. Updates and submits the Uniform Underwriting Transmittal Summary and loan file to underwriting.
10. Reviews file and closing conditions prior to closing and discusses conditions with the Mortgage Loan Originator.
11. Reviews title company commitments to ensure outstanding exceptions are cleared prior to closing or as part of the closing process. Orders payoff information internally and externally, and monitors receipt of the same. Orders pre-closing searches from title company issuing initial title commitment.
12. Gathers outside information needed from partners and vendors for the closing disclosure document relating to realtor commission and various inspections.
13. Obtains and review property insurance information to ensure sufficient amount and type of property insurance is in place prior to closing. Obtain the cost of coverage in order to complete the Closing Disclosure within required timeframes.
14. Completes all the necessary fields in the loan origination software system required to produce a Closing Disclosure.
15. Balances and uploads loans on CSI core system.
16. Completes verbal verification of borrower’s employment prior to closing.
Qualified candidate should possess the ability to multi-task and consistently meet deadlines; effectively deal with ambiguity and change; demonstrate strong analytical skills; ability to interact effectively and respectfully with internal and external customers. Ability to comprehend and translate a full cross-section of complex lending requirements. Ability to demonstrate initiative and resourcefulness in seeking working solutions. Ability to accurately calculate income from a variety of sources including review of a variety of income tax return types, liabilities, assets and reserves. Ability to fluctuate work hours based on production volumes.
Requirements
REQUIRED EDUCATION AND EXPERIENCE High school diploma; two years of prior processing experience and the ability to continually learn and adhere to government requirements, secondary market guidelines and various software systems; practical experience with basic hardware and software.
PREFERRED EDUCATION AND EXPERIENCE
Three to five years of prior experience in fast-paced mortgage lending environment.
This job operates in a professional office environment. Must be able to deal with pressures relating to multiple deadlines.
This role requires sufficient stamina to sit and read a computer screen for extended periods of time. Ability to perform repetitive motion with wrists, hands, and/or fingers and otherwise perform the essential functions of the position. While performing these duties, the employee is regularly required to speak and hear. Ability to lift up to 10 pounds.
