File Clerk

JOB DESCRIPTION

Summary

The Mortgage Document Specialist is responsible for processing FHA Streamline and VA Interset Rate Reduction Refinance Loan (IRRRL) loan applications in compliance with mortgage lending and applicable investor guidelines. This role performs duties such as analyzing the loan application, assessing creditworthiness and the likelihood that a loan applicant will be able to repay the debt, analyzing guidelines as they pertain to the loan product and sales structure, reviewing title commitments and fees, and allocating fees properly in the system. Responsible for monitoring the loan process and managing the proper expectations with the client and the sales staff through closing.

Essential Job Functions include:

• Excellent Customer Service. The Customer Advocate is the primary customer contact, and may act as liaison between the borrower, underwriter, and loan advisor. The Customer Advocate is required to provide periodic status updates, and timely return all incoming inquiry calls. The Customer Advocate is responsible for noting all communication and statuses in the Loan Operating System.
• The Customer Advocate will contact the borrower(s) for all outstanding documents needed including but not limited to the items on the Underwriting Terms and Conditions sheet.
• Validates the information on loan application for completion and accuracy and confirms information entered in Loan Origination System matches.
• Completes various Processing Checklists to confirm documentation requested was received and loan is ready to go back to Underwriting for final approval.
• Escalates loans through proper channels if a loan no longer qualifies or a restructure is needed.
• Requests, follows up and obtains items from 3rd parties as needed. Examples include but are not limited to hazard insurance, flood insurance, payoffs, verification of employment, etc.
• Responsible for running compliance engines to make sure loans comply at time of submission.
• Submit for review when Title, Credit, and borrower documents are in.
• Provides quality loan processing, reviewing files for adherence to underwriting standards, and ensuring completeness prior to submission for underwriting for approval.
• Records data on status of loans, including number of new applications and loans approved, canceled, or denied, using computer.
• Responsible for funding goals as established at the beginning of every month. Responsible for maintaining assigned pipeline and managing accordingly to meet service level agreements.
• Provide Feedback to initial loan review team on loan quality.
• Maintain regular and punctual attendance.

Other Related Duties:

Performs other related duties as assigned.

Supervisory Responsibilities:

This job has no supervisory responsibilities.

Qualifications:

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

• Outstanding communication and customer service skills.
• Excellent attention to detail.
• Well versed in the mortgage process flow and established SLA’s.
• Highly skilled on the phone, very organized and able to handle the overall customer experience with outstanding service.
• MS Office proficient.

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