The Mortgage Operations Analyst will report to the Sr. Manager of Mortgage Operations. The Mortgage Operations Analyst will review mortgage loan files and complete various tasks at several stages in the mortgage loan origination process to ensure that proper processes are being followed in adherence to regulatory requirements.
The Mortgage Operations Analyst role prepares timely and accurate disclosures or closing documents on First Mortgages and HELOC loans from application to post-closing that comply with company policy and federal and state regulatory guidelines as well as highly regulated timeframes. This includes generating Federal, State-Specific and SVB specific disclosures and closing documents during various phases of loan process including Initial Disclosure; Approval; Closing; Funding, and Post Closing.
Due to the fast-paced nature of the regulatory and business environments, the individual must have the ability to quickly adapt to change and multi-task various assignments.
Mortgage Operations Analysts typically have one identified primary role and are trained to provide backup coverage for a minimum of one additional function from the below areas of production:
- Orders all required services and documentation (ie: appraisal, prelim, fees, flood cert)
- Generates and reviews documentation for accuracy before sending all upfront disclosing packages within required regulatory timelines.
- Sends Appraisals to clients to meet regulatory deadlines
- Manages modifications to information/Processes CIC’s
- Processes the file by ordering items needed for closing (ie: payoffs, insurance, fees)
- Generates NOLA with State Specific Approval disclosures
- Manages pipeline to ensure all items are ordered timely to meet established closing dates or rate lock expirations
- Ensures all conditions are received prior to Clear to Close
- Reviews and updates all necessary fields in the system to generate the CD/Closing Documents.
- Prepares and review closing documents for accuracy prior to sending to clients and closing agents.
- Reviews signed Closing documents for accuracy prior to funding.
- Confirms all conditions are met prior to funding
- Communicates with Escrow to coordinate timing of funds needed for closing
- Generates and reviews funding figures for accuracy before requesting funds
- Initiates ticket for wire to fund the loans and confirms funds are received
- Confirms Recording information with closing agents
- Generates final Post-Consummate Closing Disclosure based on regulatory deadlines and reviews information for accuracy
- Responsible for ensuring final title Policies and recorded Deeds of Trust/Mortgages are received timely
- 1-2 years of related Mortgage Operations experience OR 3-5 years of overall experience (financial services industry, preferably mortgage or loan services)
- Bachelor’s degree preferred
- Understanding of mortgage loan process including strong working knowledge to evaluate credit reports, purchase contracts, appraisals, title commitments and other pertinent documentation.
- Familiarity with Encompass Loan Origination Software is highly desired.
- Strong skills in spreadsheets and in analyzing large volumes of data.
- Ability to take initiative and have strong verbal and written communication skills.
- Willingness to continue learning for both personal and professional growth
- Excellent time management and attention to detail are critical to this position.
- Good analytical, research, organizational, and project management skills.
- Strong individual contributor with the ability to work effectively as a team.
- Ability to work under pressure and meet stringent deadlines on a consistent basis
- Able to produce accurate work which includes quality checking personal work product
- Detail-oriented with strong organizational skills and ability to manage several tasks at various stages simultaneously
- Able to accurately and promptly identify situations that fall outside of the norm
- Solid interpersonal and customer service skills required with ability to work with diverse base of resources and clients, both internal and external