Senior loan processor vs mortgage loan specialist

Differences between senior loan processor and mortgage loan specialist duties and responsibilities

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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Mortgage loan specialist example responsibilities.

• Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
• Investigate and resolve, borrower complaints, inquiries and disputes in accordance with RESPA establish procedures.
• Clear post-closing FHA and VA deficiency items to ensure loans meet federal loan guidelines and ensure they are salable.
• Process FHA and VA loan information, post-closing, ensure that initial payments receive were forward to the proper department.
• Respond to mortgage lenders and taxing agency jurisdictions by utilizing effective verbal and written communication in a prompt and accurate manner.
• Determine loan DU eligibility and submit files to underwriting department.