What are the responsibilities and job description for the Mortgage Loan Purchase Specialist position at Consolidated Analytics?
The Loan Purchase Specialist is responsible for reviewing closed loans delivered for purchase. The review consists of determining loan eligibility and compliance to guidelines. In addition, the Loan Purchase Specialist is the primary liaison to the Correspondent Lender and the multiple teams reviewing and placing conditions on loans.
Primary Duties And Responsibilities
Primary Duties And Responsibilities
- Use Company systems (including LOS, OnBase, and FHA Connection) to review loans for compliance, Agency, FHA, VA, and USDA guidelines and perform loan level data entry into Company systems on each loan reviewed to determine purchase eligibility while meeting production and quality standards
- Distribute suspense notifications to Lenders and facilitate the clearing of conditions by multiple loan review teams
- Communicate with Lenders to answers questions, explain guidelines, and resolve loan level suspensions while demonstrating outstanding customer service levels
- Proactively manage pipeline by working with Lenders on aged loans to ensure seasoning guidelines and turn times are met
- Act as the primary liaison between the Correspondent Lender and the multiple teams reviewing and placing conditions on loans such as Compliance Review, Underwriting, Pre-Purchase Review, Collateral Review, and other internal departments by relaying information through appropriate channels and providing feedback, as needed
- Participate in regular team meetings regarding trends, training, and updates to policies and procedures
- Provide accurate weekly suspense reports to Management
- College degree from a 4-year institution or equivalent experience preferred
- At least 1-2 years’ experience in a mortgage banking environment preferred
- Knowledge of Agency, FHA, USDA, and VA guidelines preferred
- Demonstrates outstanding customer service levels
- Excellent communication, both verbally and in writing
- Ability to communicate with all levels of individuals, both internal and external
- Highly proficient data entry skills
- Excellent time management and organizational skills
- Superb analytical skills and attention to detail
- Ability to work in a fast-paced environment and meet deadlines
- Self-starter, ability to work with minimal supervision
- Professional in both dress and demeanor
- Ability to work outside normal business hours, if needed
- Medical Insurance
- Dental Insurance
- Vision Insurance
- Life & Disability Insurances