Home Loans Residential Loan Processor I
Company: First Interstate BancSystem, Inc.
Location: Casper
Posted on: June 8, 2021
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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 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. 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 BancSystem, Inc., Casper , Home Loans Residential Loan Processor I, Other , Casper, Wyoming
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