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; Appraisal Desk; Pre-Processing; Trailing Docs; 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:
Initial Disclosure/Appraisal Desk :
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
Pre- Processing :
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
Trailing Docs:
Confirm receipt of all original closing packages including original Notes
Responsible for ensuring final title Policies and recorded Deeds of Trust/Mortgages are received timely
Responsible for filing all final documentation both physically and electronically
Awareness of related areas and the business context in which the work is performed.
Familiar with mortgage loan process including working knowledge to evaluate credit reports, purchase contracts, appraisals, title commitments and other pertinent documentation.
Knowledge of mortgage regulatory requirements that apply to the Bank such as but not limited to: TRID, Regulation B, E.C.O.A., Regulation V, Regulation Z, Regulation X, E-Sign, and HMDA.
Knowledge of approaches, tools, techniques, and applications associated with loan processing.
Knowledge of customer service concepts and techniques.
Knowledge of the organization's industry group, trends, directions, major issues, regulatory considerations, and trendsetters.
Knowledge of established standard operating procedures (SOP).
Knowledge of the importance of meeting or exceeding established targets.
Understanding of effective communication concepts, tools and techniques.
Working knowledge of Encompass Loan Origination Software highly desired
Knowledge of effective self-management practices.
Knowledge of the techniques and the ability to work with a variety of individuals and groups in a constructive and collaborative manner.
Understanding the necessity and value of accuracy
Ability to process financial products with high levels of accuracy.
Ability to help an organization comply with regulations at the federal, state and local level and follow the organization-specific policies and guidelines, affecting business practices.
Ability to meet or exceed customer needs and expectations and provide excellent service in a direct or indirect manner.
Ability to apply industry knowledge appropriately to diverse situations.
Ability to design, implement and evaluate standard operating procedures affecting daily and strategic business operations in order to increase operational efficiency.
Ability to drive critical activities to completion.
Ability to effectively transmit, receive, and accurately interpret ideas, information, and needs through the Application of appropriate communication behaviors.
Ability to apply knowledge of problem solving appropriately to diverse situations.
Ability to manage multiple concurrent objectives, projects, groups, or activities, making effective judgments as to prioritizing and time allocation.
Ability to complete tasks with high levels of precision.