Home Loan Processor - Loan Closing & Funding Specialist
The Auto Club Group (ACG) provides membership,travel, insurance and financial services offerings to approximately 9 millionmembers and customers across 11 states and 2 U.S. territories through the AAA,Meemic and Fremont brands. ACG belongs to the national AAA federation and isthe second largest AAA club in North America.
Primary Duties and Responsibilities (details ofthe basic job functions):
Reviews all information submitted on residential mortgageloan applicants to ensure all documentation is complete and meets allrequirements. Initiates and maintainscontact with clients throughout the processing period. Submits loan through a desktop underwritingsystem (secondary market loan) and meets all conditions required by theautomated loan origination system. Calculates debt-to income and loan-to-value ratios and assembles acomplete documented file for submission to underwriting within established timeframes. Prepares early disclosures and meets alldesktop underwriting conditions to ensure documentation meets secondary marketrequirements.
Works with loan officer to establish closing dates and meetsstandards for closing percentages of loans processed. Performs final review of completedapplications packages and prepares files for approval. Alerts underwriter to produceDecline/Withdrawal letters and assists underwriting with reason(s) foraction. Maintains necessary records toensure compliance with HMDA reporting requirements and follows up with titlecompanies for receipt of recorded documents. Closes loans following company, investor, federal and staterequirements.
Associate Degree in related field
- Automated Underwriting and LoanOrigination systems
Works in a temperature controlled office environment
Required Qualifications (these are the minimumrequirements to qualify):
Experiencein/with residential mortgage lending of first mortgages sold on the secondarymarket.
Extensiveexperience in processing conventional, FHA, VA and USDA loans.
Experience in/with processing second mortgages and homeequity lines of credit
- Analyzing reports and completion offorms
- Working with math concepts includingfractions, ratios, statistics, etc.
- Processing "in-house" first andsecond mortgage loans as well as HELOC's
- Resolution of underwriting issues
- Working with secondary marketvendors in regard to the purchase of loans
- General ledger entries and balancing
- Analyzing mortgage loan creditpackage (income, assets, credit and collateral)
- Packaging loans for sale in thesecondary market
- Reconciling loan purchase advisefrom investors in regard to the purchase of loans
Demonstrated skills in/with:
- Analyzing and problem solving
- Organization and planning
- PC software applications including Wordand Excel
- Maintaining accurate records
- Mortgage loan products, services,pricing, tax and regulatory issues
- Mortgage loan processing and closingprocedures
- FCRA, ECOA, HMDA as well as otherstate and federal regs regarding the extension of credit
- Communicate with others in a work environment,clients, loan originator, etc.
- Adhere to mortgage loan processingand closing procedures
- Assist in the development of loanprocessing procedures
- Work effectively with it andsoftware vendors in regard to application processing systems
- Complete detailed tasks accuratelyand in a timely manner
- Meet deadlines and work well underpressure
- Work flexible hours including afterhours and weekends
The Auto Club Group offers a competitive compensation and benefits packages including a base salary with performance based incentives; medical/dental/vision insurance, pension, 401(k), generous time off, a complimentary AAA Membership and much more!
Important Note: The above statements describe the principal and essential functions, but not all functions that may be inherent in the job. This job requires the ability to perform duties contained in the job description for this position, including, but not limited to, the above requirements. Reasonable accommodations will be made for otherwise qualified applicants, as needed, to enable them to fulfill these requirements.
The Auto Club Group, and all of its affiliated companies, is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender identity, sexual orientation, national origin, disability or protected veteran status.
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