Chicago Real Estate jobs - Chicago Jobs, Jobs Chicago

Home | Recent Job posts | Advanced Job Search

Job Search:

Residential Loan File Manager - 11/20/09

<< Go Back One Page

Residential Loan File Manager - 11/20/09

Company Name:

Northern Trust Corp.

Job Title:

Residential Loan File Manager

Job Type:

Real Estate

Job Reference Code:

029863

Company Website:

Visit This Company's Website and Learn More About This Job

Job Location:

Chicago (Loop), IL

Job Description

Gathers and reviews required documentation for all purchase/refinance mortgage requests, Custom mortgages, Construction or Equity Credit Line requests, preparing credit file for the underwriting decision. Responsible for working with partners, borrowers and outside vendors to resolve inquires and ensure all internal and external needs are met. Prepares all documentation and calculates figures for closing and funding the loan request, ensuring the Bank and regulatory agency guidelines are being met. Responsible for properly setting up the loan on the appropriate system(s) and training. Monitors and reports loans requiring deficiency follow-up.

Job Requirements

Knowledge of residential mortgage processing including construction loan funding, closing and post-closing usually acquired through related work experience is required to gather and review mortgage and Equity Credit Line documentation and to ensure closing requirements are met. Knowledge of bank policy and procedures, secondary market guidelines and compliance regulations, usually acquired through related work experience, is required to ensure bank and regulatory guidelines are met. Time management skills and attention to detail are required to properly manage and prioritize assigned workload. Knowledge of Windows with a background in Word or Excel preferred to set up loans on the system and maintain tracking file. Good written and verbal communication skills are required to respond to inquiries from partners, borrowers and outside vendors. Processing systems used are CBC Innovistar and Morvision.
Major Duties 1. Works with partners, borrowers and vendors to request, obtain and/or follow-up on all
documentation required for approval. Reviews the documentation for accuracy and inputs the information into the mortgage origination system.

2. Responds to, and documents inquiries from partners, borrowers and outside vendors to resolve discrepancies. Ensures complete and accurate credit packages are submitted for approval review.

3. Maintains tracking of files to ensure timeframes and measurement standards are being met.

4. Responsible for coordinating loan closing with borrowers, and/or title companies, preparing loan closing documentation, calculating closing costs and coordinating delivery of documents.

5. Ensures closing requirements are met, authorizes disbursement of funds to borrow/title company and inputs all new account information into servicing system.

6. Responsible for meeting all regulatory and compliance requirements associated with mortgage lending. Verifies that the loan documentation is complete and accurate; reports and resolves deficiencies within established timeframes.

7. Assists partners or borrowers with post-closing inquiries or issues. Assists other team members with workload as needed and with special projects if called upon.

8. Is able to perform basic underwriting skills applying secondary market and banks guidelines to determine credit worthiness. Ensures documentation is complete for analysis.

9. Responsible for approving basic loan approval conditions provided by partners, borrowers or outside vendors for files ensuring guidelines and bank policies have been met.

10. Order site inspections on construction loans and process draw requests from Title Company/Builder or Client.
Experience 3 years in mortgage processing/closing experience.

Job Status:

perm

<< Go Back One Page