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Loan Processor Secondary Market

Company: Business First Bank
Location: Lake Charles
Posted on: November 14, 2021

Job Description:

SUMMARY: Responsible for processing mortgage loans to ensure all loans are properly documented and meet the requirements of secondary market investors. Edits loan packages received from lending staff for compliance, accuracy, completeness, and prepares file to submit to investor. Obtains 'Clear to Close' status and sees loan through closing, funding, and warehouse. SPECIFIC JOB DUTIES:

  • Organize and maintain work flow and status of files
  • Pre-underwrite files
  • Review loan applications and identify documentation problems by highlighting deficiencies.
  • Confirm mortgage loan application information by mailing verification forms, contacting verification sources and completing verification forms.
  • Obtain mortgage loan documentation through communicating underwriting requirements to loan officers and ordering titles, appraisal, insurance and related information.
  • Verify accuracy of documents received, clarify or obtain necessary information to complete file.
  • Work closely with the loan officers to ensure that the rate lock is in file and that all underwriting conditions have been met prior to the scheduled loan closing.
  • Order closing packages for all loans and fund non-FHA loans
  • Follow up on receipt of all pre and post closing documents to ensure all items are resolved and determine appropriate action to achieve resolution.
  • Verify loan packages for proper adherence to credit policies, regulatory compliance and bank defined procedures.
  • Performs all other job related duties as assigned
  • Performs most duties independently JOB REQUIREMENTS:
    • High school diploma or general education degree (GED); and one to two years related experience and/or training; or equivalent combination of education and experience.
    • General knowledge of loan and underwriting process.
    • High volume of files worked per month, multitasker and critical thinker.
    • Banking operations/policies preferred.

Keywords: Business First Bank, Lake Charles , Loan Processor Secondary Market, Other , Lake Charles, Louisiana

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