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Home Loans Residential Loan Processor I

Company: First Interstate Bank
Location: Casper
Posted on: June 8, 2021

Job Description:

If you are a current FIB employee, please apply through the Career Worklet in the Employee Portal. SUMMARY Provide assistance in the loan origination process from the time the file is received from the HL Residential Loan Representative through underwriter review and up to hand-off to the HL Residential Loan Closer. Perform an in-depth review of the loan file to gather an understanding of the transaction and verify that it meets established standards for completion, accuracy and compliance. Review and validate all loan documentation, update the information in the appropriate software, review the loan for Investor eligibility and prepare the file for underwriting. Work with the HL Residential Loan Representative and MLO to obtain documentation to clear Underwriter conditions for closing. Provide exceptional client service while meeting established Service Level Agreements and upholding First Interstate Bank values. A fully proficient HL Residential Loan Processor I is capable of fully processing all of the following loan types and/or property characteristics with very little or no assistance: Conventional Fannie Mae State Agency Private mortgage insurance Manufactured home Investment property Located in SFHA Self-employed, schedule C ESSENTIAL DUTIES & RESPONSIBILITIES include the following: other duties may be assigned. Perform an in-depth review of the loan application received from the HL Residential Loan Representative to gather an understanding of the transaction and verify that it meets established standards for completion, accuracy and compliance. Request additional documentation, as required, from HL Residential Loan Representative or MLO to fill any omissions in the file. Review signed disclosures upon receipt and ensure Intent to Proceed is documented. Update and maintain loan files and perform pipeline management to ensure movement of applications. Maintain records of loans in process. Order 3rd party employment/income verification (if applicable). Analyze all documentation, as it is received, in order to determine impact on loan viability and bring any concerns or issues to the attention of the MLO and/or Underwriter. Based on 3rd party verification, calculate income, required and available reserves, required cash to close, etc., as required by loan program, investor and/or guarantor. Input / update data in various software / systems for credit and automated underwriting and verifying all electronic information for the loan file. Re-disclose as necessary and monitor compliance throughout the processing phase. Scan to the electronic file all follow-up documentation as it is received. Research appropriate agency and/or investor guidelines and/or government regulations to assure loan meets requirements for insurability/salability. Submit complete credit packages to underwriting to obtain approvals with minimal conditions. Upon receipt of underwriting conditions, if straightforward, obtain documentation directly from the source, or work with MLO and/or HL Residential Loan Representative to obtain documentation for re-submission or final submission to the UW within required Service Level Agreement. Provide exceptional turn-time on a high volume of mortgage loan transactions. Additional loan application duties assigned as coverage needs arise. QUALIFICATIONS To perform this job successfully, an individual must be able to complete each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. EDUCATION and/or EXPERIENCE High school diploma or General Education Degree (GED) required, and one to three years related experience and/or training. OTHER SKILLS & REQUIREMENTS Accurate keyboarding and 10-key skills required. Computer experience required with Windows software experience preferred. Ability to set priorities and work in an organized manner. Ability to work under pressure with limited supervision. This position requires compliance with the S.A.F.E. Mortgage Licensing Act of 2008 and all related regulations. Employment is contingent upon meeting all such requirements, including acceptable background investigation results. As a condition of employment, any successful job applicant will be required to pass a pre-employment screening against the Limited Denial of Participation (LDP), GSA Excluded Party List System (EPLS) and Freddie Mac Exclusionary List. Valid driver's license is required. LANGUAGE SKILLS Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public. MATHEMATICAL SKILLS Ability to work with mathematical concepts such as probability and statistical inference. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations (must be able to comprehend complex income situations for qualifying purposes) REASONING ABILITY Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables. PHYSICAL DEMANDS While performing the duties of this job, the employee is regularly required to walk and talk or hear. The employee frequently is required to stand and sit. The employee is occasionally required to use hands to finger, handle, or feel; reach with hands and arms; and stoop, kneel, crouch, or crawl. The employee must frequently lift and/or move up to 25 pounds. The noise level in the work environment is usually moderate. WORK ENVIRONMENT The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate. If you are a current FIB employee, please apply through the Career Worklet in the Employee Portal.

Keywords: First Interstate Bank, Casper , Home Loans Residential Loan Processor I, Other , Casper, Wyoming

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