Student loan correspondent vs senior loan processor

Differences between student loan correspondent and senior loan processor duties and responsibilities

Student loan correspondent example responsibilities.

• Develop Facebook strategy, execute launch and manage content.
• Proofread and edit correspondence for accuracy and quality standards.
• Interview prospective lenders to for additional services; significantly expand company lender sources in both purchase and refinance markets.
• Analyze mortgagors for approval of HAMP or traditional modification.

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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