Mortgage Loan Processor II
Indianapolis, IN 
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Posted 6 days ago
Job Description
Description

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

Qualifications

Education
High School of General Studies (required)

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


Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor-s legal duty to furnish information. 41 CFR 60-1.35(c)

First Merchants Bank is an Equal Opportunity Employer and E-Verify participant (M/F/D/V).

 

Job Summary
Start Date
As soon as possible
Employment Term and Type
Regular, Full Time
Required Education
High School or Equivalent
Required Experience
3 years
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