Real Estate Loan Processor II

What You’ll Be Doing

Serves as primary contact and service experience agent for Members who have applied for a real estate loan and provides the timely status updates. Assists Members with understanding the processes, obtaining required documentation, and meeting underwriting requirements. Is responsible for re-working loan when appraised value comes in low and present any possible options to Member.

• Verifies that original regulatory and / or compliant loan disclosures have been sent to our Member within the required timelines. Understands and is able to explain the terms of all disclosures to Members.
• Applies team and department “Best Practices” as instructed by Management.
• Coordinates funding activities with closing area, settlement agent and Member.
• Ensures that all pre-document and loan conditions are satisfied prior to authorizing funding.
• May be responsible for ordering out on own files in the event that a file clerk is unavailable.
• Processes real estate loan applications in a manner that is compliant with internal Lending Policies, Standard Operating Procedures, including product matrices and Investor guidelines. Is accountable for reviewing internal policy documents and SOP’s on a frequent basis to ensure that skills and understanding are current. Is familiar with the AllReg’s system to review investor guidelines as needed.
• Ensures that department turnaround times for period from receipt of completed loan application to credit approval then funding are met.
• Responsible for primary Member contact; which includes providing twice weekly status updates to Members in pipeline; reviewing loan stipulations and counter offers and updating escrow and real estate agents at least weekly.
• Responsible for following up on third party services, within two business days of receipt of a completed loan application, including but not limited to Appraisal, Escrow, Title and mortgage insurance.
• Responsible for ensuring that updated loan disclosures are sent when re-disclosing is necessary; Ensure that new disclosures are sent within the required timeframe and in accordance with CFPB, TILA-RESPA integrated rule and MDIA.

Additional Job Functions

Qualifications

Knowledge, Skills, and Abilities