Primarily responsible for trailing documentation and funding authorizations. Processes loan-closing files so they are shipped to investors and to be funded in a timely manner. Reviews loan documents for compliance, completeness, and accuracy. Obtains missing information, prepares files, and provides support to internal and external customers. Utilizes standard concepts, practices, and procedures well known within the mortgage industry.
- Follow-up and manage trailing documentation within the specific time frames provided.
- Ensure all funding conditions are met as per investor or Underwriter requirements at Closing.
- Perform HUD reviews and provide specific documents to closing agents to allow funding authorization.
- Review closed loan packages for accuracy and completeness.
- Verify that closed loan packages meet investor guidelines.
- Prepare closed loan packages for delivery to investors.
- Communicate with settlement agents, brokers, and other counter-parties to obtain missing information and documentation for the closed-loan package.
- Ensure loan packages are stacked and completed to the industry guidelines.
- Inputs information into Encompass, FHA, VA, and MERS systems.
- Contact Closing Attorneys, Underwriter, Loan Officer, Processor, and/or other applicable parties to resolve issues in loan files and obtain appropriate documentation.
- Revert to Processing Department for any missing documents needed.
- Communicate effectively with all parties involved in the process.
- Coordinate with the Lender and Escrow company on final loan documents if any errors.
- Resolve any post-closing issues and provide any requested documentation.
- Ship files to investors.
- Package loans to be sent to USDA for the LNG.
- Upload documents requested by VA or HUD for loan audits.
- Ship note packages to warehouse banks.
- Have government files insured in the time required.
- Work on conditions on files after they have been stipped.
- Only local candidates will be considered.
- Minimum of 2 years processing/post-closing experience.
- High School diploma, or equivalent experience; college degree preferred.
- Knowledge of Encompass software is strongly preferred.
- Working knowledge of RESPA.
- Basic underwriting, processor, and closing knowledge and terminology.
- Highly motivated, ambitious, and driven to succeed.
- Trustworthy, honest, and display a high level of integrity.
- Ability to work effectively in a team environment.
- Strong attention to detail and accuracy.
- Effective written and verbal communication skills.
- Ability to identify and resolve problems in a timely manner.
- Ability to apply basic mathematical concepts such as adding, subtracting, multiplying, and dividing.
- Able to understand and respond appropriately to basic inquires.
- Able to read, write, and communicate using the English language sufficient to perform job functions.
- Ability to use Company equipment in assigned area (including but not limited to telephone, copiers, fax machines, computers, internet, etc.).
- Able to access, input, retrieve, and interpret information using applicable computer systems (including, but not limited to, Microsoft Word, Excel, Outlook, industry-specific computer software, etc.).
- Able to articulate with technology.
- Able to multi-task (e.g., simultaneous usage of several applications, etc.).
- Well-versed with keyboard shortcuts and able to identify new ways to complete a task in less time.
- Relies on limited experience and judgment to plan and accomplish goals.
- Works well under general supervision.
- Displays a degree of creativity and latitude.
- Able to handle deadlines and work within banking guidelines.
- Able to recommend ways to improve the post-closing process.
- Compliance with all Bank Secrecy Act (BSA), Anti-Money Laundering (AML) laws, and Office of Foreign Asset Controls (OFAC) requirements is required. Employees must complete annual training in these areas.
This job operates in a clerical office setting; climate-controlled surroundings with adequate lighting and little or moderate noise when in the office. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets, and fax machines.
This is largely a sedentary role; however, some filing and photocopying are required. This would require the ability to lift files, open filing cabinets, and bend or stand as necessary.
EXPECTED HOURS OF WORK
Days and hours of work are Monday through Friday, 8:30 a.m. to 5:00 p.m. Evening and weekend work may be required as job duties demand.
About ALCOVA Mortgage
Most companies start with a business plan. ALCOVA Mortgage started with a friendship. Bound by common background and inspired by a passion to serve, childhood friends Bobby Nicely, Billy Siple and Rob Lindstrom dreampt of one day starting a business.
In 2003, the trio joined together to establish a mortgage company—ALCOVA—an acronym for Alleghany County, VA, in honor of their roots.
In 2012, ALCOVA Mortgage made its debut on the Inc. 5000 list of fastest-growing private companies in the United States and has been recognized every year since. The company’s phenomenal growth of 96% in three years propelled it into the league of such legendary businesses that gained notoriety on the prestigious list as Dell, Microsoft, LinkedIn, Pandora, Timberland, Zillow, Yelp, and Domino’s Pizza.
Today, ALCOVA continues to thrive, largely because of its roots in friendship and the passion to serve.