Originate, analyze and disburse Conventional and Jumbo loans upto $800000.
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Create and deliver initial disclosures to borrower for consent to proceed.
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Collect and review loan applicant’s fi nancial profi le and credit history to evaluate credit risk and analyze creditworthiness by using income, liabilities, expenses and Assets.
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Complete ratio, trend and cash flows analyses such as LTV(Loan to value) and DTI(Debt to Income) and create projections.
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Create underwriting condition in case of missing information or supporting documents.
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Gather complete loan information i.e., Loan amount, Loan terms, loan type to generate correct ammortization.
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prepare escrow account to fi gure out futre HOI, MI, and property tax payment and include in fi nal settlement statement.
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To generate and review comprehensive fraud report before approving and disbursing loan.
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Take decision to approve/disapprove mortgage loan applications using ratios and collateral documents.
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Ensures that all loans are made in adherence with federal, state, and local fi nancial regulations.
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Having a Strong ERP and CRM knowledge such as Encompass and Bytepro. Prepare all the legal documents through encompass and Byte to process the loan using borrower's informations, account payoffs, insurance, and other information.
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Interact with Borrowers, brokers, title companies, appraiser and attorney to verify information.
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Arrange notary to complete signing process.
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Quality control review of closing documentats to ensure they are accurate, properly signed and notarized as required. Identify document defi ciencies and promptly remediate with the appropriate internal and external parties.
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Calculate ‘net funding amount’ (NFW) needed to fund and prepare funding package before disbursement and transfer to our funding department.
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Once funds are disbursed create investor package and update documents on investor’s portal for purchasing. i.e., Wells fargo, JP Morgan Chase, Triust Bank, And Amerihomes.
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Take appropriate actions to resolve shipping issues and clear investor suspense items to ensure loans are purchased within specifi ed timeframes.
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Once fi le is purchased from investor update ‘Purchase Advice’ in our banking portal.
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Closely monitor investor’s emails in order to get updated with their guidelines.
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Detailed Compliance knowledge including TILA, RESPA, TRID, HOEPA, QM and ATR regulations for disbursement of quality loans.
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As a team lead meet established productivity levels and turnaround times.
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By using PowerBI keep the loan calendar up to date with active mortgage closings and Monitor daily status of loans delivered/shipped but not yet purchased.
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Set priorities, understands urgencies, and reacts quickly to deadline/delivery requirements.
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Resolve any post-closing issues immediately.
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Arrange training sessions for new credit analyst.
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strong Microsoft skills to create Loan disbursement checklist and ensure that other staff are following correct steps for approving and granting loans.