Los Angeles, CA
Category : Banking
Location/City : CA - Los Angeles
Job Type : Full-time / Perm
Salary Range : 60000.00 - 80000.00 per year (USD Full-time / Perm)
Recruiter Name : Sean Pennel
Recruiter Email : email@example.com
Responsibilities & Duties
- Be sure files are in proper condition and the complete submitted package is received so that loans can be approved with minimum conditions.
- Review files for errors and inconsistencies, organize, analyze, update and validate the loan files in the LOS for preparation, and send the loan files to Underwriting department for loan decisions.
- Adhere to the turn times outlined in the Loan Workflow Expectations
- Ensure file documents within the LOS have been granted access to requisite personnel within the LOS once files are ready to be submitted. Forward any conditions uploaded (i.e. prior-to-document conditions are also uploaded and granted to the requisite personnel).
- Note that the LOS is used as a repository for all extra documents and some documents may not need to be released (to underwriters and other personnel).
- Review files for any possible signs of fraud/misrepresentation, review fraud report, identify compliance notices from the LOS and correct to ensure compliance.
- Follow up with Underwriting department once the turnaround time for submitted loans to the Underwriting department has elapsed.
- Retrieve and review all PTD s conditions received from all parties (borrowers, LOs, escrows, titles, AMCs, etc.).
- Answer call overflow.
- Ensure Change in Circumstance (CIC) requests are completed when a valid change occurs and requests are sent to GFE Desk.
- Review conditions within 24-48 hours of receipt. As appropriate, submit to the Underwriting department to clear.
- Create Loan Commitment Letters and send to the borrower and all appropriate parties if necessary.
- Follow-up on appraisal orders and retrieve appraisal reports as needed.
- Upon receipt of the appraisal report, send copy of the report to the LO.
- Order appraisal conditions as needed or as requested from underwriter.
- Email appraisal reports to borrowers after underwriters have signed off the appraisal report condition.
- Ensure proper documentation is in file prior to signing-off conditions.
- Order, review, and upload closing protection letters to the LOS.
- Retrieve and review condominium questionnaires, insurance policies, and other corresponding condominium documents.
- Perform verbal (or written) verification of employment.
- Order and retrieve subordination agreements as necessary.
- Order and review homeowner and, if applicable, flood insurance policies. Ensure sufficient coverages and premiums are reflected accurately with the LOS.
- Validate loan lock and coordinate with Secondary on any discrepancy/corrections.
Order and review estimated HUD-1's for all loans.
- Request or order and retrieve payoff demands.
- Complete closing transmittals and submit file to the closing department with all required closing documents.
- Notify parties of issuance of loan documents.
- Collect PTF conditions from borrowers or coordinate with mortgage coordinator and/or LO.
- Coordinate with funding department for any outstanding PTF conditions and cure them.
- Contact Escrow to make sure funds and the closing packages are available at least one day prior to closing.
- Manage loan pipeline and update all close of escrow dates and ensure the dates have not expired.
- Submit commission checks to accounting (for brokered deals).
- Complete the tracking screen for all brokered files. Ensure the corresponding dates are accurate and completed in a timely manner.
- Contact lenders to make sure funds and the closing packages are available at least one day prior to closing.
Education & Experience:
- Minimum Education Level: Bachelor s Degree
- Minimum Years of Experience: 3-5 Years
- Combination of Experience and Education can meet the job requirements: Yes
Computer/Systems Knowledge Requirements:
- Microsoft Outlook: Intermediate
- Microsoft Word: Intermediate
- Microsoft Excel: Intermediate
- Microsoft PowerPoint: Intermediate