Mortgage Loan Processor (Albuquerque) - (albuquerque, new mexico) in Albuquerque, New Mexico For Sale
Req ID:xxxx1
Areas of Interest:Mortgage
BOK Financial (BOKF), Headquartered in Tulsa, Oklahoma, BOK Financial Corporation (NASDAQ: BOKF) is a top 25 U.S.:based financial services holding company with operations in ten states : Oklahoma, Texas, Arkansas, Arizona, Colorado, Kansas/Missouri, New Mexico, Nebraska and Wisconsin. The company began more than 100 years ago in Tulsa and has successfully diversified into a variety of industries, businesses and geographies.
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The Mortgage Loan Processor is primarily responsible for obtaining, reconciling, and validating all required documentation for a Mortgage application as defined by specific product, Investor, and compliance guidelines. The processor is responsible for performing a preliminary underwrite, including a thorough review of Federal, Investor, and Lender guidelines prior to submission to the underwriting department. Processing is responsible for maintaining contact with all parties involved throughout the process, including but not limited to borrowers, realtors, vendors, and internal departmental communication. Processing is responsible for managing pipelines in order to meet closing and lock expiration dates. Maintain compliance with Regulation B Guidelines to provide timely decisions and the best customer service available in the market.
PRINCIPLE DUTIES AND RESPONSIBILITIES:
:Monitors and reconciles all documentation submitted for accuracy. Making appropriate telephone calls to borrower or institutions for final verification to gain all information for each file. Inputs and validates all data in computer system and reviews for discrepancies with initial loan application and all Federal, Insurer or Institutional guidelines. Monitors all files in process for 30:day activity status to insure that Regulation B Guidelines are enforced on all files. This includes updating any expired documents making sure all files are decisioned timely to advise Borrower expeditiously of the decision made on their file.
:Completes final evaluation after complex analysis of completed application package and prepares file for approval. Each application package file may have different requirements based on the investor. Responsible for assuring compliance with Investor, product specific, lender, and compliance underwriting guidelines by maintaining updated information on all guideline changes as they happen. Ability to review resources provided to access the most current guidelines to assist in confirming that all files meet underwriting guidelines prior to submission. Reviews each file to make sure all necessary forms and disclosures for loan are in the file prior to submission, reviewing all documents carefully for accuracy. All documents to be placed in file order. The processor is required to sign off on the file before it moves to the next step. There is a 0 tolerance error rate in this area from regulatory agencies.If a file is red flagged in the system this position is required to do the due diligence to find the problem, gather all necessary data required to resolve, or if necessary escalate to the next step towards denial.
KNOWLEDGE, SKILLS and ABILITIES:
:In:Depth knowledge of mortgage lending guidelines and regulations (RESPA, Reg B, HMDA,FHA, VA Conventional, FHLMC, FNMA, Bond, Native American, Rural Development and others as offered)
:In:Depth knowledge of mortgage loan underwriting criteria
:In:Depth knowledge of Compliance guidelines
:Ability to perform complex mathematical calculations
:Ability to operate PC and 10 key by touch
:Ability to type 50:60 wpm
:Good interpersonal skills, and oral and written communication skillsThis level of knowledge is normally acquired through high school and a minimum of 5+ years of mortgage loan processing experience, which should include 1:2 years prior operational support and/or loan documentation review experience in a mortgage lending institution or a real estate or title agency.
BOK Fina
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