Loan Assumption Specialist

Loan Assumption Specialist will work with applicants and borrowers who wish to assume the mortgage terms and payment of qualified mortgage loans through a transfer of ownership.

• Receive assumption request applications and prepare preliminary paperwork, drafting assumption package, communicating with borrowers, assumers.
• Review file documents to ensure completeness; preparing file for underwriting approval; assumption loan processing, drafting all documents.
• Manages a pipeline of loans. Reviews file submissions for accuracy and completeness. Verifies that all required documents are properly located in the loan file.
• Understand and ensures all compliance and regulatory are adhered to according to federal and state laws and regulations.
• Submits completed loan package to underwriter for review and approval.
• Upon review and approval of underwriter, prepares the loan closing package.
• Review loan packages, scheduling closings and preparation of loan closing documents
• Process additions and removals of borrowers from deed when changes occur and verify receipt of supporting documentation for deed transfers.
• Follow procedures to ensure compliance applicable to federal, state, local, investors or other regulatory disclosures and requirements.

• High school diploma or equivalent required
• Associated Degree Preferred

• Mortgage processing/or closing experience required
• Minimum two (2) years of mortgage experience with a variety of investors
• Overall knowledge of Mortgage Lending Process
• Ability to make decisions independently within set policy and procedures

• Effective verbal and written communication skills with ability to instruct members of team.
• Some reporting experience and data analytics
• Experience using Microsoft Office
• Intermediate Microsoft Excel skills
• Displays strong organizational skills and manages time effectively
• Ability to multi-task and deal with competing priorities
• Ability to meet deadlines
• Ability to adapt to a changing environment
• Ability to understand and utilize investor guidelines