Position Goals

Analyze and evaluate all information provided within a loan file for compliance with applicable investor guidelines, regulations, and bank policies as well as coordinating with the originator, underwriter, and closer to get the loan to the closing table.

Essential Duties and Responsibilities:

1.  Validate and analyze income documentation.

• Calculate income from paystubs and validate to W-2’s.
• Calculate self employed income.
• Seek out additional documentation as needed to support the income used for qualification.
• Address discrepancies.

2.  Validate and analyze asset documentation provided.

• Validate sufficient funds to close.
• Validate required reserves.
• Explain/remove inconsistent/large deposits.
• Calculate asset value as required by applicable investor.

3.  Perform initial appraisal review.

• Complete the appraisal review form.
• Seek corrections for issues and deficiencies.
• Validate the appraisal to requirements.
• Provide copy to borrower as required by regulations.

4.  Validate ratio related debts.

5.  Analyze credit report for accuracy. Request updates and clarifications as needed.

6.  Run Automated Underwriting System (AUS) engines as needed and ensure supporting documentation required by the Automated Underwriting System (AUS) findings and the investor requirements are met prior to submitting the file to underwriting.

7. Review flood determination and take required action.

8  Collect appropriate documentation to clear applicable conditions set by the underwriter.

9.  Complete required work to prepare the loan file for the closer.

Position Requirements:

Education – High school diploma or equivalent (GED).

Experience – Over three (3) through five (5) years of mortgage processing or related experience.

Other – Experience with government and/or conventional loan processing.

Preferred Requirements:

None