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Loan Processor - ME #3477

Company:
Absolute Opportunities
Location:
Sanford, Maine, United States
Posted:
December 01, 2016
Description:

Position Title Loan Processor - ME #3477

Relocation No

Location Sanford Maine

Summary: Reviews loan files upfront for correct documentation for compliance quality, and assigns loan files. Inputs and updates loan data into the financial institution's computer system for loan opening, processing and closings; final compliance loan review for all loan closings; prepares all loan closing documents and reviews attorney prepared Hud Settlement/Loan closing Disclosure.

Job Requirements:

* High school diploma or equivalent.

* Two to five years of experience in a loan processing / Equivalent job experience

* Successful completion of in-house training program or approved outside training program.

* Good understanding of financial institution loan products and services.

* Attention to detail and accuracy is essential.

Specific Job Functions:

* Responsible for timely preparation and delivery of loan opening and closing documents.

* Maintains communication with settlement agents, loan officers, and underwriters to execute proper required delivery of documents for opening, processing and closing documents.

* Provides administrative assistance to the loan underwriting staff, including updating loan data into the financial institution's computers, and assembling of documentation for customer loans.

* Adheres to CFPB changes regarding preparation and delivery of loan closing statement

* Ensures that loan files contain documents with proper signature, dates and other relevant data.

* Uses automated processing software to set up mortgage and equity loans to generate necessary loan disclosures.

* Uses office computer software for data input. Other activities to include ordering appraisals, titles and flood determinations.

* Reviews and processes conditions for loan officers.

* Seek enhanced methods of delivery of closing documents such as utilizing e-disclosures.

* Keep abreast of all new compliance regulations, policies and procedures

* Keep accurate HMDA data and check for entry errors - Residential files.

* Assembles and verifies accuracy of loan documentation.

* Checks documents for proper vesting, legal descriptions, closing dates and signatures.

* Perform a pre-closing compliance review of all mortgage loan files and organize file into 6 sections prior to loan closing.

* Performs variety of clerical duties requiring knowledge of departmental procedures.

* Preparation of real estate tax and insurance escrow documents for closing attorneys.

* Assist with compliance audits to correct post-closing errors.

* Answers telephone inquiries and written inquiries concerning loan processing and information.

* Generate Weekly/Monthly Mortgage Loans Reports on a rotation basis.

Bottom line requirements we need notes on with candidate submittal:

1. High school diploma or equivalent.

2. 2+ years of experience in a loan processing.

3. Good understanding of financial institution loan products and services.

4. Local or close enough for a short easy move.