What are the responsibilities and job description for the Secondary Market Mortgage Prod. Spec. position at Lake Ridge Bank?
JOB REQUIREMENTS: Description: Join Lake Ridge Bank and play a vital
role in helping our mortgage teams deliver exceptional lending
experiences by ensuring a seamless process from rate lock through loan
closing and investor delivery. The Secondary Market Specialist is
primarily responsible for supporting mortgage teams with
investor-related processes including locking interest rates with
investors, rate commitment pair-offs and extensions and delivering loans
to investors. The Mortgage Production Specialist is responsible for
managing a pipeline of mortgage loans from application through closing.
This role involves reviewing loan applications, obtaining necessary
documentation from borrowers, ensuring compliance with regulatory
requirements, and communicating effectively with all parties involved in
the loan process. The specialist will work closely with loan officers,
underwriters, closers, and clients to facilitate a smooth and efficient
Mortgage Approval Process. SECONDARY MARKET - ESSENTIAL
RESPONSIBILITIES: Lock interest rates with secondary market investors.
Complete contract pair-offs and extensions for rate lock commitments
when needed. Deliver all sold loans to investors in a timely and
accurate manner. Prepare UCD and ULDD data to electronically deliver
loan. Monitor pipeline of loans sold to ensure timely closing and timely
delivery to investors. Meet shipping expiration deadlines; coordinate
with secondary marketing if an expiration date cannot be met prior to
commitment Monitor investor reports to ensure timely and accurate
funding from investors Book Participation loan onto the Core upon
receipt of investor funding Complete Gain on Sale Report and provide it
to Management at the beginning of each month. PRODUCTION SPECIALIST -
ESSENTIAL RESPONSIBILITIES: Loan Pipeline Management: Manage loans in
the pipeline simultaneously, ensuring timely and accurate processing of
each loan for up to 2 lenders. Application Review: Examine borrower data
on applications, including URLA and supplemental information, to confirm
accuracy and completeness. Follow up with clients to obtain any missing
information or documentation. Loan Estimate Assistance: Assist in
reviewing and updating the Loan Estimate (LE) before it is sent out by
the Loan Officer (LO). Ensure compliance with any changes in
circumstances and redisclose when necessary. CIP/Patriot Act/Portfolio
Information: Obtain and update contact information and identification
details for all borrowers, ensuring compliance with regulations. 4506-C
Form Processing: Request tax return forms and transcripts from borrowers
when needed, and coordinate with the processing stage to ensure accurate
documentation. Encompass System Management: Ensure the lender checklist
is completed within Encompass, send NOI letters when needed, and manage
credit bureau reports to address any discrepancies or alerts. Automated
Underwriting System (AUS): Verify accuracy of AUS findings and update
information if there are significant changes. Re-run AUS as required.
Compliance Review: Monitor Mavent report(s) and investigate any fails or
compliance issues. Document explanations and comments as needed in the
Encompass conversation log. Property and Title Verification: Review RE
Tax bills, verify ownership, and ensure accurate entry of monthly tax
amounts. Order and review title work, flood certificates, and condo loan
documentation. Communication and Documentation: Use milestone comments
to communicate loan status and all non-compliance related details.
Review And Update HOI And Other Required Insurance. Closing
Coordination: Confirm closing dates and conditions on the Offer to
Purchase (OTP), coordinate with SharePoint for scheduling. Underwriting
Preparation: Compile and review all required documents for underwriting,
ensuring \"conditions to close\" are met and accurately documented.
Third-Party Document Management: Obtain and review documents fr m
third-party services (e.g., Flood Certificate, Homeowners Insurance
Policy, Title Insurance). Follow up with appropriate parties to clear
any discrepancies found. Pull the flood certificate and work with
Compliance if any of the property comes back in the flood zone. Order
title work and collaborate with the Title Insurance company to correct
errors or work with the borrower to address exceptions that need to be
cleared before closing. Request current/accurate HOI before closing and
Update The System With Premiums As Necessary. OTHER RESPONSIBILITIES
Complete all annual bank security and compliance training. Adhere to
Bank Security guidelines as required for this position. Always maintain
confidentiality of client information Stay current on all compliance
Regulations. Perform Other Duties As Assigned Or Requested Requirements
Strong understanding of secondary market requirements, mortgage loan
processes, regulatory requirements, and compliance. Associate degree in
Accounting, Finance, or similar designation and/or 2 or more years
Equivalent Work Experience In a Similar Position Required Previous
experience in banking or financial institution setting and/or mortgage
preferred Understanding of mortgage loan documentation and of state and
federal regulations related to mortgage loans. Well-developed
verbal/written communication skills and interpersonal skills Good
working knowledge of Microsoft Excel, Word and Power Point with the
ability and willingness to learn new programs and software Strong
attention to detail with excellent follow-up skills and the ability to
work efficiently and accurately Self-starter that can manage multiple
priorities simultaneously and work in a fast-paced/deadline driven
environment Willing team player with the ability to put forth the extra
effort necessary to make the office a successful operation including the
willingness to put in extra time when needed and/or to attend required &
recommended outside educational programs, seminars, etc. Ability to
maintain confidential customer information. Ability to read, write,
understand and speak English clearly Ability to represent the
organization in a professional, positive manner This is a full time role
between the hours of 8:00 AM to 5:00 PM Monday through Friday.
Flexibility in scheduling may be needed on occasion. Lake Ridge Bank
values a diverse workforce and is an Affirmative Action/Equal
Opportunity Employer. Consistent with Lake Ridge Bank\'s commitment to
employ and advance qualified individuals with disabilities, Lake Ridge
Bank provides reasonable accommodation to apply for or perform a job.
Some examples of reasonable accommodation include alternate methods to
apply, providing documents in an alternate format, altering work
procedures, specialized equipment or use of an interpreter. If an
individual needs reasonable accommodations to apply or perform a job
here at Lake Ridge Bank, please contact Human Resources at (608)
849-2700 or email us. PI285248049 \*\*\*\*\* APPLICATION INSTRUCTIONS:
Apply Online: https://www.click2apply.net/e8jLj1UmoJMA6TXVMFrXkl
role in helping our mortgage teams deliver exceptional lending
experiences by ensuring a seamless process from rate lock through loan
closing and investor delivery. The Secondary Market Specialist is
primarily responsible for supporting mortgage teams with
investor-related processes including locking interest rates with
investors, rate commitment pair-offs and extensions and delivering loans
to investors. The Mortgage Production Specialist is responsible for
managing a pipeline of mortgage loans from application through closing.
This role involves reviewing loan applications, obtaining necessary
documentation from borrowers, ensuring compliance with regulatory
requirements, and communicating effectively with all parties involved in
the loan process. The specialist will work closely with loan officers,
underwriters, closers, and clients to facilitate a smooth and efficient
Mortgage Approval Process. SECONDARY MARKET - ESSENTIAL
RESPONSIBILITIES: Lock interest rates with secondary market investors.
Complete contract pair-offs and extensions for rate lock commitments
when needed. Deliver all sold loans to investors in a timely and
accurate manner. Prepare UCD and ULDD data to electronically deliver
loan. Monitor pipeline of loans sold to ensure timely closing and timely
delivery to investors. Meet shipping expiration deadlines; coordinate
with secondary marketing if an expiration date cannot be met prior to
commitment Monitor investor reports to ensure timely and accurate
funding from investors Book Participation loan onto the Core upon
receipt of investor funding Complete Gain on Sale Report and provide it
to Management at the beginning of each month. PRODUCTION SPECIALIST -
ESSENTIAL RESPONSIBILITIES: Loan Pipeline Management: Manage loans in
the pipeline simultaneously, ensuring timely and accurate processing of
each loan for up to 2 lenders. Application Review: Examine borrower data
on applications, including URLA and supplemental information, to confirm
accuracy and completeness. Follow up with clients to obtain any missing
information or documentation. Loan Estimate Assistance: Assist in
reviewing and updating the Loan Estimate (LE) before it is sent out by
the Loan Officer (LO). Ensure compliance with any changes in
circumstances and redisclose when necessary. CIP/Patriot Act/Portfolio
Information: Obtain and update contact information and identification
details for all borrowers, ensuring compliance with regulations. 4506-C
Form Processing: Request tax return forms and transcripts from borrowers
when needed, and coordinate with the processing stage to ensure accurate
documentation. Encompass System Management: Ensure the lender checklist
is completed within Encompass, send NOI letters when needed, and manage
credit bureau reports to address any discrepancies or alerts. Automated
Underwriting System (AUS): Verify accuracy of AUS findings and update
information if there are significant changes. Re-run AUS as required.
Compliance Review: Monitor Mavent report(s) and investigate any fails or
compliance issues. Document explanations and comments as needed in the
Encompass conversation log. Property and Title Verification: Review RE
Tax bills, verify ownership, and ensure accurate entry of monthly tax
amounts. Order and review title work, flood certificates, and condo loan
documentation. Communication and Documentation: Use milestone comments
to communicate loan status and all non-compliance related details.
Review And Update HOI And Other Required Insurance. Closing
Coordination: Confirm closing dates and conditions on the Offer to
Purchase (OTP), coordinate with SharePoint for scheduling. Underwriting
Preparation: Compile and review all required documents for underwriting,
ensuring \"conditions to close\" are met and accurately documented.
Third-Party Document Management: Obtain and review documents fr m
third-party services (e.g., Flood Certificate, Homeowners Insurance
Policy, Title Insurance). Follow up with appropriate parties to clear
any discrepancies found. Pull the flood certificate and work with
Compliance if any of the property comes back in the flood zone. Order
title work and collaborate with the Title Insurance company to correct
errors or work with the borrower to address exceptions that need to be
cleared before closing. Request current/accurate HOI before closing and
Update The System With Premiums As Necessary. OTHER RESPONSIBILITIES
Complete all annual bank security and compliance training. Adhere to
Bank Security guidelines as required for this position. Always maintain
confidentiality of client information Stay current on all compliance
Regulations. Perform Other Duties As Assigned Or Requested Requirements
Strong understanding of secondary market requirements, mortgage loan
processes, regulatory requirements, and compliance. Associate degree in
Accounting, Finance, or similar designation and/or 2 or more years
Equivalent Work Experience In a Similar Position Required Previous
experience in banking or financial institution setting and/or mortgage
preferred Understanding of mortgage loan documentation and of state and
federal regulations related to mortgage loans. Well-developed
verbal/written communication skills and interpersonal skills Good
working knowledge of Microsoft Excel, Word and Power Point with the
ability and willingness to learn new programs and software Strong
attention to detail with excellent follow-up skills and the ability to
work efficiently and accurately Self-starter that can manage multiple
priorities simultaneously and work in a fast-paced/deadline driven
environment Willing team player with the ability to put forth the extra
effort necessary to make the office a successful operation including the
willingness to put in extra time when needed and/or to attend required &
recommended outside educational programs, seminars, etc. Ability to
maintain confidential customer information. Ability to read, write,
understand and speak English clearly Ability to represent the
organization in a professional, positive manner This is a full time role
between the hours of 8:00 AM to 5:00 PM Monday through Friday.
Flexibility in scheduling may be needed on occasion. Lake Ridge Bank
values a diverse workforce and is an Affirmative Action/Equal
Opportunity Employer. Consistent with Lake Ridge Bank\'s commitment to
employ and advance qualified individuals with disabilities, Lake Ridge
Bank provides reasonable accommodation to apply for or perform a job.
Some examples of reasonable accommodation include alternate methods to
apply, providing documents in an alternate format, altering work
procedures, specialized equipment or use of an interpreter. If an
individual needs reasonable accommodations to apply or perform a job
here at Lake Ridge Bank, please contact Human Resources at (608)
849-2700 or email us. PI285248049 \*\*\*\*\* APPLICATION INSTRUCTIONS:
Apply Online: https://www.click2apply.net/e8jLj1UmoJMA6TXVMFrXkl