• Title

  • Mortgage Processor- Purchased Loans

    RIHousing
    Job Description
    POSITION:  Mortgage Processor/                                            FLSA:  Non-Exempt                                                     DATE:   2/4
                                                  Purchased Loans
    REPORTS TO:   Assistant Director/Homeownership         DEPT/DIV:   Homeownership                      GRADE:   B2-2
    RIHousing is committed to creating a diverse environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
     
    RIHousing strives to ensure that all people who live or work in Rhode Island can afford a healthy, attractive home that meets their needs.  A good home provides the foundation upon which individuals and families thrive, children learn and grow, and communities prosper.
                                             
    To achieve our mission we:
    •          Offer competitive and innovative single family and multi family lending programs.
    •          Provide housing related education to consumers and others.
    •          Finance development that builds healthy, vibrant communities.
    •          Invest housing grants and subsidies to Rhode Islanders with the greatest need.
     
    RIHousing uses its resources to provide low-interest loans and grants to help Rhode Islanders find, rent, buy, build and keep a good home. Created by the General Assembly in 1973, RIHousing is a privately funded public purpose corporation.
     
    RIHousing requires its employees to be highly motivated and knowledgeable, have a sound understanding of the changing needs of Rhode Island's housing market, be willing to work within and toward a smoothly integrated operation, demonstrate a commitment to serve the people of Rhode Island, especially those with low and moderate incomes in need of safe and affordable homes, and possess a high level of integrity and a deep respect for all Rhode Islanders, including customers, partners and fellow employees.
     
    JOB SUMMARY
     
    This position is accountable for the accurate and timely processing of closed loan files from post closing review by a third party vendor, for our loan center, broker and correspondent channel.
     
    JOB FUNCTIONS
     
    Incumbent is responsible for the process around the review of loans from our Retail, Broker and Correspondent business channels.  Incumbent will be responsible for uploading credit files to our third party vendor.  Incumbent monitors the vendors system on a daily basis to determine what exceptions may be noted on these loans. Data is also input into our loan processing system to complete a ULDD file which is then imported into the vendors system.
    The processor is responsible to clear any conditions that pertain to the credit package of each loan file and works closely with the Retail, Broker and Correspondent channels to clear file discrepancies.  The third party vendor determines what items in the closing package meet RIHousing requirements and identifies any issues that need to be corrected prior to all conditions being cleared.  The processor must interpret discrepancy reports provided by the third party vendor.  Decisions must be made by the processor when a condition should be brought to the attention of the supervisor to provide guidance.    This is a time sensitive operation and attention to detail, as well as responsiveness, is key requirements of the processor. 
     
    The processor is responsible for providing guidance to our retail, broker and to our correspondent lending partners to assist them in perfecting every loan file.  Knowledge and understanding of all documents involved in a mortgage transaction is critical.  In addition, the ability to provide a high level of customer service in a timely manner is key to success in this position.
    Upon closing, processor is responsible for follow up of any post purchase documents required from the loan center, broker and correspondent channel.  Once the file is completed, notation is made on the third party vendor site that the file has been purchased, and is complete.
    PRINCIPAL ACCOUNTABILITIES

     
    • Incumbent performs a variety of processing, data entry, documentation, research and customer service functions on a daily basis.
    • Monitor third party vendor electronic site for new mortgages submitted by lender.
    • Scan credit packages into third party software to merge with lender provided file.
    • Review work of third party post closing review vendor for discrepancy report accuracy.
    • Interact with lenders to clear discrepancies noted by third party vendor.
    • Review documents submitted to clear exceptions for validity.
    • Responds to lender inquiries and requests in a professional, courteous and timely manner and maintain positive, proactive working relationships with mortgage lenders.
    • Perform related administrative duties or special projects as assigned.
     
    QUALIFICATIONS

     
    • Four years of residential mortgage loan experience or equivalent mortgage banking experience
    • Working knowledge of RIHousing mortgage guidelines for documentation
    • Good verbal and written communications skills, along with strong computer, organizational and problem-solving skills
    • Demonstrated high level of customer service skills
    • Associates degree in real estate, business administration or related field preferred; and/or equivilant work experience required. 
    Contact Information
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