Loan Purchasing Specialist

Job Description

Our client is seeking a Loan Purchasing Specialist who will be responsible for managing and executing the purchasing of residential mortgage loans in compliance with current guidelines and regulations. This role ensures the accurate and timely processing of loan purchase packages from originating lenders, performs quality control reviews, and collaborates with various stakeholders.

Duties:

Loan Processing and Review: Review and verify loan purchase packages for completeness, accuracy, and compliance. Ensure all required documentation is included and correctly executed. Perform detailed quality control checks to identify and resolve any discrepancies or issues. Coordination and Communication: Communicate effectively with originating lenders to resolve any issues or obtain missing documentation. Liaise with internal departments, including underwriting, compliance, and finance, to facilitate the loan purchasing process. Provide clear and concise feedback to lenders regarding loan package deficiencies. Documentation and Compliance: Maintain accurate records of all loan purchases, ensuring all documentation is properly filed and accessible. Stay up-to-date with changes in state and federal regulations affecting mortgage loan purchases and ensure compliance with these regulations. Assist in the preparation of reports related to loan purchasing activities and performance metrics. Continuous Improvement: Identify opportunities for process improvements to enhance the efficiency and accuracy of the loan purchasing process. Participate in training and detail oriented development opportunities to stay current with industry trends and best practices.Minimum of 2 years of experience in mortgage loan processing, underwriting, or a related field. Strong knowledge of mortgage loan origination, processing, and purchasing procedures. Familiarity with federal housing regulations and guidelines, including FHA, VA, and USDA programs. Excellent analytical skills with a high attention to detail. Strong organizational and time management skills, with the ability to manage multiple tasks and deadlines. Effective communication and interpersonal skills to work collaboratively with internal and external stakeholders. Proficiency in mortgage loan software and Microsoft Office Suite.