SUMMARY: Under the direction of the assigned supervisor/manager the Mortgage Processor 1 assists the processors and underwriters by obtaining the necessary documentation to process a single family 1-4 unit residential mortgage loan application. The incumbent is responsible for reviewing the loan file documentation for completeness, verifying applicant and ordering verifications. Complete files will be sent to a Mortgage Processor 2 or 3 for review. The Mortgage Processor 1 will handle a large volume of data and must complete all duties with a high degree of accuracy and complete confidentiality.
ESSENTIAL DUTIES AND RESPONSIBILITES include the following. Other duties may be assigned.
Review loan and verify that the minimum documentation requirements are fulfilled; contact the mortgage lender on preliminary conditions or issues involving their respective loan file.
Review the loan application summary for relevant items and document the loan file accordingly.
Order and review flood certificates to determine flood risk, researching map exhibits and online maps to identify additional structures that might be subject to additional flood insurance requirements.
Request verification of deposits/assets in order to verify closing funds.
Verify applicant employment via phone, email or fax, requesting written VOE (verification of employment) with income, if applicable. Review the AUS (automated underwriting system) desktop underwriter) findings for consistency, including, but not limited to: loan amount, interest rate, term and income amount.
Order W-2 and tax transcripts per investor and lender insuring requirements. Verify applicant Social Security Number via third party provider.
Review credit report for: collections, disputed accounts, judgements, liens and past due accounts. Order line items to verify status of account (s).
Review credit report for mortgage debt: order line items of payment history, proof of escrow and property that secures the loan, if documentation is not provided by the lender.
Request case numbers and CAIVRS for government loan files.
Update the LOS (loan origination system) as needed or directed, thoroughly document actions via the systems conversation log.
Follow up on all items ordered out within 48 hours, upload completed request to the LOS.
Submit loans through the AUS.
Understand and comply with bank policy, laws, regulations, and the bank's BSA/AML Program, as applicable to your job duties.This includes, but is not limited to; complete compliance training and adhere to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity.
Support and uphold the Arvest Mission Statement.
Uphold the Arvest Code of Ethics and ensure that confidential information is safeguarded.
Maintain a high level of cooperation and rapport with all associates in order to ensure accurate and efficient operations and service.
Formulate and communicate new ideas and suggestions that will improve profitability and efficiency for the company's overall operation.
Promote professionalism at all times.
Bear State Financial, Inc.