Mortgage Loan Processor III
Company Name:
Waterstone Mortgage Corporation
SUMMARY
Process loans for customers as needed for programs offered by Waterstone Mortgage Corp.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Duties may vary slightly by state and/or branch. Other duties may be assigned.
1. Review new file within 48 hours of receipt and verify that compliance documents were issued within proper time frame. Notify the appropriate staff member if additional documentation or information is needed.
2. Maintain a pipeline of 30 to 35 files and/or 3 to 5 loan originators.
3. Order all necessary documents to satisfy AU and/or product requirements from Loan Originator, customer or vendor.
4. Track all requested documents in Encompass.
5. Review documentation received within 24 hours of receipt for discrepancies and omitted data. Calculate verified income, verify assets and update Encompass based on verified information.
6. Immediately notify Loan Originator of any discrepancies on documentation so Loan Originator can determine necessary remedies.
7. Prepare loan for underwriting submission by utilizing investor's submission checklist.
8. Clear any approval or suspense conditions as outlined by the underwriter.
9. Ensure that all appropriate closing documentation is in the loan file (i.e. title documentation, home owners insurance, etc.). Review documents within 24 hours of receipt and communicate with Loan Originators.
10. Process loans to meet contract deadlines and rate lock expiration dates.
11. File to be given to closing department within timelines established by WMC.
12. Assist other processors, underwriters and Closing department as needed.
13. Respond to customer inquiries and other related parties on a transaction as needed.
14. Assist with the clearing of post closing exceptions received by investor to ensure WMC does not incur any financial loss.
15. Possess knowledge of current state's mortgage lending laws.
16. Order FHA and VA case numbers on government sites.
17. Possess knowledge of Real Estate compliance guidelines and ability to implement them.
ADDITIONAL DUTIES:
1. Fill in for supervisor when needed.
2. Complete any additional duties assigned by manager, supervisor or lead.
3. Maintain a focus on enhancing customer service skills and knowledge.
4. Complete regulatory and compliance training, as required.
5. Assist WMC employees and Departments as needed.
Individuals in this position shall not engage in loan origination during the course of his/her employment with WMC. Loan origination is defined as (1) taking a residential mortgage loan application; or (2) offering or negotiating terms of a residential mortgage loan for compensation or gain.
SUPERVISORY
Responsibilities: n/a
Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or
Experience: High school diploma or general education degree (GED). Additional education and/or
Experience: 5 plus years of conventional fixed and ARM, HELOC and construction mortgage loan processing. Extensive knowledge of VA & FHA loan processing. Experience working with multiple investors.
COMPUTER SKILLS: Experience on a mortgage loan processing system, preferably Encompass. Experience with Microsoft Office products. The ability to accurately input data.
LANGUAGE SKILLS: Good grammar and diction. Ability to read and comprehend simple instructions, short correspondence, and memos. Ability to write simple correspondence. Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization.
MATHEMATICAL SKILLS: Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent.
CUSTOMER SERVICE SKILLS: Ability to meet the (internal) customer service excellence core competency which includes maintaining a good attitude, taking ownership of meeting customer needs, going the extra mile for customers, demonstrating a commitment to sharpening skills through education and training, using positive communication, and respecting customers' time and schedules.
REASONING ABILITY: Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
CERTIFICATES, LICENSES, REGISTRATIONS: N/A
PHYSICAL DEMANDS: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; and talk or hear. The employee frequently is required to reach with hands and arms. The employee is occasionally required to walk; stand; and stoop, kneel or crouch. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, and ability to adjust focus.
Additional Physical Demands: n/a
WORK ENVIRONMENT: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Estimated Salary: $20 to $28 per hour based on qualifications.
Waterstone Mortgage Corporation
SUMMARY
Process loans for customers as needed for programs offered by Waterstone Mortgage Corp.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Duties may vary slightly by state and/or branch. Other duties may be assigned.
1. Review new file within 48 hours of receipt and verify that compliance documents were issued within proper time frame. Notify the appropriate staff member if additional documentation or information is needed.
2. Maintain a pipeline of 30 to 35 files and/or 3 to 5 loan originators.
3. Order all necessary documents to satisfy AU and/or product requirements from Loan Originator, customer or vendor.
4. Track all requested documents in Encompass.
5. Review documentation received within 24 hours of receipt for discrepancies and omitted data. Calculate verified income, verify assets and update Encompass based on verified information.
6. Immediately notify Loan Originator of any discrepancies on documentation so Loan Originator can determine necessary remedies.
7. Prepare loan for underwriting submission by utilizing investor's submission checklist.
8. Clear any approval or suspense conditions as outlined by the underwriter.
9. Ensure that all appropriate closing documentation is in the loan file (i.e. title documentation, home owners insurance, etc.). Review documents within 24 hours of receipt and communicate with Loan Originators.
10. Process loans to meet contract deadlines and rate lock expiration dates.
11. File to be given to closing department within timelines established by WMC.
12. Assist other processors, underwriters and Closing department as needed.
13. Respond to customer inquiries and other related parties on a transaction as needed.
14. Assist with the clearing of post closing exceptions received by investor to ensure WMC does not incur any financial loss.
15. Possess knowledge of current state's mortgage lending laws.
16. Order FHA and VA case numbers on government sites.
17. Possess knowledge of Real Estate compliance guidelines and ability to implement them.
ADDITIONAL DUTIES:
1. Fill in for supervisor when needed.
2. Complete any additional duties assigned by manager, supervisor or lead.
3. Maintain a focus on enhancing customer service skills and knowledge.
4. Complete regulatory and compliance training, as required.
5. Assist WMC employees and Departments as needed.
Individuals in this position shall not engage in loan origination during the course of his/her employment with WMC. Loan origination is defined as (1) taking a residential mortgage loan application; or (2) offering or negotiating terms of a residential mortgage loan for compensation or gain.
SUPERVISORY
Responsibilities: n/a
Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or
Experience: High school diploma or general education degree (GED). Additional education and/or
Experience: 5 plus years of conventional fixed and ARM, HELOC and construction mortgage loan processing. Extensive knowledge of VA & FHA loan processing. Experience working with multiple investors.
COMPUTER SKILLS: Experience on a mortgage loan processing system, preferably Encompass. Experience with Microsoft Office products. The ability to accurately input data.
LANGUAGE SKILLS: Good grammar and diction. Ability to read and comprehend simple instructions, short correspondence, and memos. Ability to write simple correspondence. Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization.
MATHEMATICAL SKILLS: Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent.
CUSTOMER SERVICE SKILLS: Ability to meet the (internal) customer service excellence core competency which includes maintaining a good attitude, taking ownership of meeting customer needs, going the extra mile for customers, demonstrating a commitment to sharpening skills through education and training, using positive communication, and respecting customers' time and schedules.
REASONING ABILITY: Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
CERTIFICATES, LICENSES, REGISTRATIONS: N/A
PHYSICAL DEMANDS: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; and talk or hear. The employee frequently is required to reach with hands and arms. The employee is occasionally required to walk; stand; and stoop, kneel or crouch. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, and ability to adjust focus.
Additional Physical Demands: n/a
WORK ENVIRONMENT: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Estimated Salary: $20 to $28 per hour based on qualifications.
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