What are the responsibilities and job description for the Loan Purchase Specialist position at Cognizant?
Loan Purchase Specialist
In Office- Irving, Texas
Position Summary:
Responsible for reviewing closed loans for purchase eligibility, ensuring compliance with company and agency guidelines, and serving as the primary liaison between correspondent lenders and internal review teams.
Key Responsibilities:
- Review loan files using company systems (LOS, OnBase, FHA Connection) to ensure eligibility and compliance with FHA, VA, USDA, and agency guidelines
- Enter and validate loan data while meeting production and quality standards
- Communicate with lenders to resolve conditions, answer questions, and provide guidance on requirements
- Manage loan pipeline, including aging loans and ensuring turnaround times are met
- Coordinate with internal departments (Underwriting, Compliance, Collateral, Pre-Purchase Review) to clear loan conditions
- Issue suspense notifications and track resolution progress
- Prepare and deliver status and suspense reports to management
Qualifications:
- 1–2 years of mortgage banking experience preferred
- Knowledge of agency and government loan guidelines (FHA, VA, USDA) preferred
- Strong analytical, organizational, and data entry skills
- Excellent written and verbal communication skills
- Ability to manage multiple priorities in a fast-paced environment
Core Competencies:
- Attention to detail and accuracy
- Customer service orientation
- Time management and organization
- Ability to work independently and meet deadlines