Loan doc specialist vs transaction coordinator

Differences between loan doc specialist and transaction coordinator duties and responsibilities

Loan doc specialist example responsibilities.

• Manage a pipeline of FHA and conforming conventional mortgage loans for refinance and purchase through closing.
• Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
• Pull LDP/GSA list, FHA CAIVR numbers, VA certificate of eligibility, VA case numbers and VA appraisals.
• Schedule loan closing and review final HUD-1 to verify fees are appropriate and within guidelines.
• Review final HUD-1, payment plan, calculations and closing documents for accuracy, prepare package for funding to review.
• Make sound business decisions base on credit risk policy and procedures in accordance with TILA, ECOA, and RESPA guidelines.
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Transaction coordinator example responsibilities.

• Manage scheduling loans for closing, handle insurance review, verify wire transfer, register and transfer loans with MERS.
• Manage and coordinate the workload of the release team members and are responsible for organizing and hosting all production release windows.
• Ensure all documents are completed and in accordance with DRE standards.
• Review and explain HUD with borrowers and loan officers prior to closing.
• Verify that DRE disclosures requirements on all documents have been send on time.
• Coordinate closing - arrange closing date/time, order escrow check if need, review HUD.
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