Real Estate Loan Assistant- Secondary Market Job Willmar area,Minnesota USA,Finance & Banking

Location 1610 E Hwy 12,Willmar, MN, ,United States
Employee Type Hourly
Required Degree High school

Description

Summary

The Real Estate Loan Assistant – Secondary Market partners closely with the Bank’s real estate lending team to coordinate and process residential mortgage loans, with a primary focus on secondary-market loans. This position manages the administrative and processing components of the mortgage loan process from application through closing, funding, delivery to the investor, and post-closing follow-up.

The position is responsible for gathering and reviewing borrower and property documentation, coordinating third-party services, preparing and reviewing loan documentation, monitoring loan requirements and deadlines, and ensuring loans are processed accurately and in accordance with investor requirements, Bank policy, and applicable regulatory requirements.

This position requires prior secondary-market mortgage lending or loan processing experience, strong knowledge of residential real estate lending and secondary-market requirements, exceptional attention to detail, and the ability to independently manage multiple loans and meet deadlines while providing outstanding service to customers, lenders, and third-party partners.

Essential Duties and Responsibilities Secondary Market Mortgage Processing

1. Coordinate and process secondary-market residential mortgage loans from application through closing, funding, investor delivery, and post-closing.

2. Partner closely with Mortgage Loan Originators and other members of the Lending Team to facilitate an efficient mortgage process and provide timely communication regarding loan status, documentation requirements, and outstanding items.

3. Review loan applications and supporting documentation for completeness and accuracy and identify missing information or documentation needed to move the loan through the processing and closing process.

4. Obtain and process required borrower documentation, including income and employment verification, asset and deposit verification, credit documentation, insurance information, and other supporting documentation required for the loan.

5. Order and coordinate third-party services, including appraisals, title work, flood determinations, credit reports, verifications, and other services required for residential real estate transactions.

6. Monitor loan files throughout the mortgage process and proactively follow up with borrowers, lenders, title companies, appraisers, insurance agents, and other third parties to ensure outstanding requirements are satisfied within established deadlines.

7. Assist with satisfying underwriting conditions and preparing completed loan files for final approval and closing.

8. Maintain knowledge of secondary-market investor guidelines, documentation requirements, and delivery standards applicable to the Bank's residential mortgage products.

9. Coordinate with secondary-market investors and other mortgage partners regarding loan documentation, funding, delivery requirements, outstanding conditions, and post-closing documentation.

10. Prepare and submit final loan packages and required documentation to investors accurately and within required time frames.

Real Estate Loan Documentation and Closing

11. Prepare and review residential real estate loan documentation, closing worksheets, disclosures, and closing packages to ensure accuracy, completeness, and consistency with loan approval and applicable requirements.

12. Coordinate loan closings with lenders, borrowers, title companies, realtors, attorneys, and other parties involved in the transaction.

13. Ensure documentation necessary to clear title issues, perfect liens, establish appropriate insurance coverage, and satisfy other closing requirements is obtained prior to closing.

14. Assist with loan funding and disbursement activities and verify that funding requirements have been satisfied.

15. Review executed closing documents for accuracy and completeness and coordinate correction of documentation deficiencies as necessary.

16. Complete post-closing activities, including document imaging, investor delivery, trailing document follow-up, and final file review.

17. Process mortgage loan payoffs and ensure satisfactions, releases, and other applicable collateral documentation are completed accurately and timely.

18. Provide processing and documentation support for in-house residential real estate loans, including conventional mortgages, home equity loans and lines of credit,…