Mortgage Loan Processor
Company: Liberty Savings Bank FSB
Posted on: May 10, 2020
Provides support to Mortgage Production by receiving and splitting
new loan files, assuring the information within the Loan
Origination System (LOS) is correct, inputting and processing all
initial/re-disclosures, and also mitigating risk by ensuring the
loan meets compliance and internal/investor guidelines.Essential
- Receives new loan files via Loan Origination System (LOS).
- Splits documents of new loan files into appropriate index
according to document type
- Reviews loan information input by Third Party Originators
(TPO), revises incorrect or inputs missing required information
into the Loan Origination System (LOS).
- Mitigates risk by reviewing the initial Loan Estimate
disclosures for accuracy and compliance (RESPA/Reg Z Regulations);
calculating Loan Officer Compensation, verifies all fees are
disclosed according to Regulations and ensures all amounts are
accurately disclosed to borrower(s); re-discloses Loan Estimate for
loan changes, as required.
- Orders Flood Determinations, Fraud Guard (Fraud Detection
tool), and Tax Transcripts on all new loans. Performs a
verification of address at USPS website for every loan. Orders SSN
verification and Mortgage Insurance (MI) as needed. Retrieves Tax
Transcripts, Flood Determinations, and SSN Verification after order
is placed. Reviews and indexes all documents once they have been
- Performs necessary follow up on all Third Party Origination
(TPO) appraisal orders to include retrieval from the vendor's
website, printing the appraisal to the Loan Origination System
(LOS) and verifying appraiser against all Excluded Parties List and
FHA approved appraiser Roster. Works closely with the Wholesale
Underwriting staff to ensure all conditions for appraisal approval
are ordered, tracked and reviewed.
- Processes all FHA Case Number assignments.
- Processes appraisal transfer requests, as necessary.
- Reviews new loan files to ensure minimum documentation is met
before submitting loans to Underwriting Queue. Notifies Account
Executive of any Pre-UW deficiencies.
- Receives and reviews Underwriting Conditions for accuracy and
sufficiency before submitting to the Underwriter.
- Verify proper Limited Denial of Participation (LDP)/Government
Services Administration (GSA) paperwork for each party associated
with each loan. Input Limited Denial of Participation (LDP)/
Government Services Administration (GSA) screen within the
- Performs Clear to Close check, to include check of Final Loan
Estimate, and 1st signature of the HMDA Checklist on each loan
- Verifies and ensures accurate Home Mortgage Disclosure Act
(HMDA) information for Canceled/Denied loans. Compares loan
information with the Loan Origination System (LOS), completes the
Home Mortgage Disclosure Act (HMDA) checklist and cancels the Flood
- Communicates with Third Party Originator (TPO) on a variety of
inquiries, follow up items, and scenario questions.
- Responsible for creating and maintain Policy and Procedures for
- Maintains customer confidence and protects operations by
- Complies with bank procedures and follows regulatory,
operational and security guidelinesSecondary Functions
- Performs office duties, such as copying, filing, faxing and
- Stays current with industry knowledge and regulations by
completing training sessions as scheduled.
- Provide support to the department by training new
- Contributes to the team effort by working on special projects
and performing other job-related duties as assigned.
- Answers incoming phone calls in a timely manner and transfers
calls to appropriate individuals/departments or takes
- Provide superior customer service and upholds customer
satisfaction to both internal and external customers by answering
questions and requests and providing information in a timely
- Possesses basic knowledge of most processes in the department
within a 30 day time frame as evidenced by the ability to perform
duties with limited guidance.
- Review loan information in Loan Origination System (LOS), split
documents, order products, input required information within a 30
day time frame with 100 % accuracy.
- Minimum 4 New loan files processed per day. Reviews and
processes 4 Pre-Underwriting condition files per day within 24
hours of receipt. Submits conditions to UW within 24 hours of
receipt. Performs Clear to Close function for loan files within 24
hours of receipt.
- Updates HMDA information for denied files as needed daily.
- Must obtain or already have NMLS registration completed for the
- Answers phone within 3 rings and returns phone calls or
responds to requests and/or questions within a 24-hour
- Maintains regular attendance and punctuality as evidenced by
- Demonstrates excellent customer service, both in person and on
phone, as evidenced by minimal complaints from
Broker/Correspondents and management observation.
- Responds to requests and/or questions within a 24-hour
- Talking-Ability to express or exchange ideas by means of the
- Hearing-Ability to receive detailed information through oral
- Seeing-Ability to view a computer screen for an extended period
of time and identify individuals visually.
- Finger dexterity-Ability to work with fingers for handling
documents and uses a keyboard.
- Sitting-Ability to sit for extended period of time.
- Reaching- ability to extend hands/arms in any direction to
move/handle objectsKnowledge, Skills and Abilities:
- High school diploma or equivalent required; 2 years mortgage
industry experience required.
- Understanding of mortgage related documents and compliance test
- Must have a professional, well-groomed, business-like
appearance, with the ability to communicate verbally and in writing
with all types of individuals, provide superior customer service
and work well with others.
- Must be able to utilize industry-related software, available to
work over 40 hour work week as needed
- Demonstrated abilities in accuracy/thoroughness and excellent
written/verbal communication skills are required.
- Must be able to change priorities quickly, work effectively
under time constraints and contribute to the team effort.
- Ability to learn word processing, spreadsheet and
industry-related software is required, Word and Excel
Keywords: Liberty Savings Bank FSB, Sarasota , Mortgage Loan Processor, Other , Sarasota, Florida
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