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MORTGAGE LOAN COORDINATOR
Location: College Station, TX
Job Summary:
The MLC is responsible for processing mortgage loan applications according to guidelines established by the Bank, Fannie Mae, Correspondent Investors, and Federal/State Regulations. They will work directly with clients during the origination of the loan, and through processing, closing and funding. The MLC must be professional and capable of working in a customer-focused environment. They must be very detail oriented, with experience in managing the loan application from origination through closing, funding, and post-closing.
Job Duties & Responsibilities:
- Prepare mortgage loan disclosures in compliance with all laws and regulations, i.e. RESPA, Reg Z, etc. – including the Loan Estimate. Maintain compliance with regulatory disclosures throughout the processing of the loan.
- Track receipt of disclosures and appraisals in compliance with E-Sign Act, and Investor requirements for electronic delivery.
- Communicate with the clients to obtain supporting credit documentation. Communicate loan approvals, conditions, rate locks etc. to borrowers and related parties.
- Order all third-party documentation required at closing, i.e. Appraisal, Title Commitment, Flood Cert, etc.
- Input application in loan origination system, order credit report, run Automated Underwriting and generate/review preliminary findings. (If input done by originator, MLC to verify input, credit and AUS findings.)
- Submit complete application package to underwriter and coordinate with parties to obtain follow-up documentation to clear loan conditions.
- Prepare loan for closing, coordinating with attorneys, title companies, and Borrowers.
- Knowledgeable in financial institution operating policies and procedures and banking regulations state and federal.
- Other administrative duties as assigned.
Key Qualifications:
- Mortgage Loan Processing, Origination, or Closing – experience 2+ years
- Fundamental knowledge of Fannie Mae Guidelines
- High School Diploma or equivalent
- Bachelor’s Degree in Business, Business Administration, Finance, or related field preferred.
- Excellent verbal and written communication skills, analytical and organizational skills.
- Broad experience in mortgage lending and/or retail banking.
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