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Loan Processor Construction (Paramount Residential Mortgage Group)
Ref No.: 16-08421
Location: Denver, Colorado
Our Renovation and One Step Construction Processor ensures that assigned loan applications are processed and prepared for funding in a timely manner, meeting all HomeStreet regulatory requirements. He/She accurately and completely documents each file including both the credit and required construction collateral documents in an accurate and efficient manner while ensuring compliance with regulations, laws and lending practices. Continually demonstrates good partnership and excellent customer service.
Loan Processor (Construction) Details
  • Verify Desktop Underwriter (DU) accuracy, file set-up and order out, and status of all outstanding conditions.
  • Verify that the loan meets the requirements of HomeStreet Renovation and One Step Construction loan programs.
  • Review various construction and renovation exhibits including, but not limited to, plans, specifications, bids, home inspections, etc. to establish required repairs and/or an accurate new construction collateral package to secure and appraisal and other third party review requirements.
  • Communicate initial file review to originating Loan Officer and to Management as required.
  • Secure title, credit reports, appraisals and flood reports as required. Review immediately upon receipt to ensure that they meet all HomeStreet and regulatory requirements.
  • Be available to provide detailed product information and loan scenario solutions to loan officers
  • Communicate receipt of documents and updated review to the originating Loan Officer. Work to clarify and/or correct all problems or errors. Order all subsequent updates and/or final reports as required.
  • Ensure that the Loan Officer secures all required documentation or information necessary from our customers.
  • Review all documents received from Loan Officer and/or customer to ensure that they meet HomeStreet requirements.
  • Update DU and/or Underwriting as required during the processing of the loan as new information is secured or as information changes. Communicate any changes in DU requirements to the originating Loan Officer.
  • Assist with Pre-Closing Conference Calls, requiring contact with Borrower, Loan Officer, Contractor/Builder.
  • Prepare all loan files for delivery to Funding within a timeframe that will allow the loan to close according to customer expectations. Assume full responsibility for file accuracy and timeliness of delivery to funding.
  • Assist the Loan Officers in monitoring of lock expirations and lock management. Communicate as necessary to ensure no locks inadvertently expire.
  • Prepare accurate post-close packages for draws and disbursements personnel.
  • Provide a written file review weekly to each assigned Loan Officer. Include information regarding current status, outstanding conditions and anticipated closing date of each loan in process. Maintain excellent communication between customers, Loan Officers, Funders, and all other parties involved in each loan transaction.
  • Work with Department Manager on creation and maintenance of various reports, spreadsheets and training materials.
  • Complete other tasks as assigned.
  • High school graduate or equivalent.
  • 5-7 years mortgage loan processing or mortgage underwriting experience required. Specific emphasis inconstruction and renovation loans preferred.
  • Proficient in Government (FHA) guidelines and other regulatory agency mortgage lending requirements.
  • Fundamental understanding of appraisal review, loan funding, post close draws and disbursements, title requirements, and other local and state regulatory requirements pertaining to construction.
  • Strong analytical and decision making skills.
  • Strong written and verbal skills – ability to work with a variety of personalities in a positive manner.
  • Proficient in MS Word, Excel, Outlook, Automated Underwriting software.
  • Ability to work as part of a team and with people of diverse backgrounds.
  • Must exercise good judgment, accept responsibility and handle confidential information.
  • Strong abilities in problem solving, researching and decision-making as required.
  • Ability to work independently, set priorities and handle multiple tasks.
This Position Description may not be limited to the Functions and Requirements as outlined, now or in the future. For example, changes in corporate needs, position demands, or individual performance may result in changes to the Functions or Requirements of this position.
Job Type: Full-time
Required education:
  • High school or equivalent
Required experience:
  • Construction Loan Processing: 1 year
  • Loan Processing: 5 years
ControlID: 14.234.89 SHR