GENERAL DESCRIPTION: This is a full-time position with the responsibility of managing and/or performing the day-to-day operations and duties of the Secondary Market Mortgage Loan Division. This position includes originating, processing, closing and shipping Secondary Market loans, providing excellent customer service to all loan customers, maintaining investor relationships including remaining current on all regulations and guidelines, and performing various accounting and administrative duties. When applicable, this position supervises any support staff assisting the Manager, Mortgage Loan Division.
QUALIFICATIONS & DUTIES:
• Ability to work effectively with minimal supervision in all areas of the mortgage division.
• Ability to originate mortgage business and develop relationships with real estate companies, title companies, business owners, employees, etc.
• Possess general knowledge of various loan programs, specific requirements, investor guidelines and available resources necessary to process and close loans.
• Ability to communicate effectively with a customer or prospective customer while taking the loan application or prequalification, requesting necessary documentation, explaining loan programs and answering questions relating to the loan process, as well as timely delivery of disclosures, Good Faith Estimates, Truth in Lending, etc. in regulatory compliance.
• Determine and quote rates from various investors’ daily rate sheets and register and lock in interest rates accordingly .
• Competence in data entry in mortgage software and ability to run Desktop Underwriter, Desktop Originator and Loan Prospector for preliminary eligibility findings.
• Ability to package and submit loan files either to contract underwriting or investor underwriting for approval, including clearing conditions for “clear to close”.
• Prepare Closing Instructions to Title Company.
• Prepare and transmit Closing Documents to Title Co. for closing, including Hud-1 reconciliation.
• Prepare Closing Package in accordance with investors’ guidelines for purchase and delivery.
• Follow-up and obtain final recorded documents and final title policies after loan closing and recording and send to investor.
• Prepare and run appropriate tickets for loan funding, fees, wires, etc.
• Maintain Mortgage Division’s checking account, including paying bills upon receipt, account reconciliation, etc.
• Ability to professionally conduct oneself with telephone calls, email and written correspondence with customers, vendors, investors and co-workers.
• Attend various outside events and functions as required as a representative of the Bank and Mortgage Loan Division in order to interact with all related associations.
• Attend webinars, seminars, teleconferences, meetings, etc. on industry topics for education and regulatory and compliance purposes, as available.
• Display QSS (Quality Service and Sales) at all times.
• Maximize profits by increasing income and reducing expenses.
• Complete all other duties as assigned by immediate supervisor.
Minimum of two-years experience as both an Originator and Manager in the Mortgage Loan Secondary Market including, but not limited to, processing, closing, and shipping.