Contract processor vs loan servicing specialist

Differences between contract processor and loan servicing specialist duties and responsibilities

Contract processor example responsibilities.

• Coach fellow team members to help attain higher QA and assist with CANDE questions to ensure efficiency.
• Process FHA, VA and CONV.
• Process and pre-underwrite FHA and conventional loans.
• Schedule closings and review final HUD report and any adverse compliance action.
• Recognize for being proficient in thinking outside the box for satisfactory documentation to clear underwriting conditions and RESPA regulations.
• Respond to mortgage lenders and taxing agency jurisdictions by utilizing effective verbal and written communication in a prompt and accurate manner.
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Loan servicing specialist example responsibilities.

• Manage the non-judicial and judicial FNMA foreclosure portfolio.
• Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
• Coordinate and schedule settlements upon final loan approval and review HUD-1 for reconciliation of itemize financial data.
• Train new hires in the MSP system to ensure they understand how to gather data and for escrow analysis.
• Prepare internally generate commercial loan documentation for all states the organization does business in.
• Work with LIS, LPS, and ESO program.
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