Loan workout officer vs senior loan processor

Differences between loan workout officer and senior loan processor duties and responsibilities

Loan workout officer example responsibilities.

• Supervise and manage the processing staff and also underwrite conventional loans for correspondent lenders.
• Structure SBA repurchase packages with accurate liquidation and litigation financial plans.
• Interact closely with the surveillance utilization and review team to audit medical record documentation in accordance with Medicaid regulations and guidelines.
• Process trailing documents for initial and final GNMA certifications.

Senior loan processor example responsibilities.

• Work knowledge of underwriting requirements for FNMA, FHLMC, FHA, VA, local bonding programs, and private investors.
• Monitor compliance with the regulatory and secondary markets guidelines with FNMA, FHLMC, VA, FHA investors and PMI loans.
• Process conforming, non-conforming, FHA, and VA files from the time of application to the day of funding.
• Analyze all pertinent financial and credit data to determine the loan risk for bank, VA, and investor guidelines.
• Process, close, and perform preliminary underwriting on conventional, FHA, and VA loans retail purchase and refinance.
• Create charts and client files using calyx system.
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