Loan Processing Assistant

Bank of England Mortgage

Loan Processor Assistant

Job Description

Non-Exempt

Typical business work hours are 8:00 A.M. to 5:00 P.M. Monday through Friday, some over-time may be required. As a Loan Processor Assistant, you will be expected to demonstrate a sense of urgency, willingness to work closely with others, and be part of a team whose primary focus is service to our customers as you will be their main point of contact. This is a non-exempt position.

Purpose:

Support one or more high producing Loan Processors and serve as a contact point for all parties including Loan Officer, Borrower, Underwriters and Sales Agents. Gather information needed by Underwriting in order to decision loan applications.

Essential Functions/Duties:

1 – Assist Loan Processors in validating assets and liabilities listed on the loan application by gathering information from third party resources (examples include obtaining bank statements to verify deposit balances and matching liabilities listed against credit reports). Validate additional information provided by loan applicant on the application (including Verification of Employment, Verification of Deposits, flood certification, HMDA information, etc.)

2 – Assist Loan Processors in gathering documentation specifically required by FHA, VA, or USDA Rural Development for prospective customers applying for those loan programs in accordance with policies & procedures, register loans on the origination system.

3 – Assist Loan Processors with issuing proper disclosures as required by federal regulatory compliance and review rate locks and point objectives for accuracy, ensure overage and underage is approved as well as waiver of any fees. Set up files & order all necessary exhibits for appraisals and credit reports, check alternative documentation for accuracy and potential problems. Review flood and tax certificates and surveys noting all issue’s upon receipt, review all documents thoroughly to ensure they meet Bank of England/ENG Lending’s guidelines before submission to Underwriting.

4 – Assist Loan Processors in providing all required information to underwriters for loan decision – if additional information is needed, contact Loan Officer for needed information.

5 – Assist Loan Processors with refinance loan applications that are approved, request payoff information for all existing mortgage loans/liens.

6 – Assist Loan Processors in obtaining lists from underwriters of conditions necessary to close loan and work with Loan Officer to obtain necessary information in order for Loan Processor to submit to underwriter.

7 – Assist Loan Processors in verifying that all files receiving “clear to close” approval contain Title Commitment, Proof of Homeowners Insurance, Insured Closing Letter, Wiring Instructions and Tax Report.

8 – Assist Loan Processors in generating documents and maintaining logs to ensure complete and accurate compliance with RESPA, Regulation Z, Fair Lending, HMDA, Bank Secrecy Act and other regulations regarding the mortgage application/origination process. Understand and comply with mortgage industry regulations, including the Fair Credit Reporting Act, the Real Estate Settlement Procedures Act, the Community Reinvestment Act, Truth-in-Lending laws, etc.

9 – Protect Company’s reputation and image by maintaining Borrower confidence; deliver a high level of customer service and by keeping mortgage loan information confidential.

10 – Work as directed by Management.

11 – Honesty and integrity in dealing with others and accountability in standing behind your work; initiative and self-motivation in serving the client, getting the job completed thoroughly and on time; ability to listen to others and understand their needs; confidence in yourself and enthusiasm regarding your service. Demonstrate organizational skills in having the ability to prioritize and manage numerous tasks at the same time.

Preferred Education & Experience:

• High School Diploma or GED equivalent required, some college preferred; College degree desired.

• A minimum of six (6) months of mortgage or financial industry experience, or experience working in an administrative support role is required.

• Intermediate to computer proficiency skills with MS Office, Excel; Mortgage Loan Applications/Software) Encompass 360 desired.

• Previous experience in mortgage loan support or processing experience in mortgage loan industry preferred.

• Excellent customer service skills; written and oral communication skills and ability to demonstrate control, flexibility and maintain quality and high productivity when dealing with customers and changing work demand.

• Ability to multi-task and operate in a high-volume, fast-paced environment.

• Knowledge of federal and state regulatory requirements a plus.

• Must be able to perform essential responsibilities with or without reasonable accommodation.