Consumer Asset Processor II

Company Name:
BBVA Compass
Responsibilities
General Summary:
Loan Processor (Processor) is responsible for providing loan processing and administrative/clerical duties for loan applications received by Consumer Asset Operations from the retail branch network, Mortgage Banking Officer or the online channel. The Processor may be the initial point of contact for a customer and must be able to effectively communicate the bank's loan products and services and assess borrower needs. The Processor is responsible for ensuring the proper and timely completion of the loan application, collection of supporting documentation, pulling credit, documenting assets and liabilities and preparing a comprehensive loan package in preparation for underwriting.
In addition, the Processor will assist the borrower in understanding the loan product selected and obtain an interest rate lock from the sales channel and ensure pricing is accurate. The Processor will ensure the bank's POS and LOS systems are populated with the required application data and that loan/processing statuses are accurately maintained. The Processor will coordinate the ordering of appraisal, title, tax and flood and all other documentation, verification or certification required to appropriately decision the loan. Upon completion of underwriting, the processor will disposition the loan according to the underwriting decision and either generate the necessary loan disposition (decline notifications) or prepare the loan for submission to closing.
Primary Duties and Responsibilities:
Contributes to quality efforts of the Consumer Asset Operations units through team orientation and focused excellence in achieving organizational service goals and quality standards.
Effectively and efficiently provides best in class service to both the prospective borrower(s) and their sales team partners by delivering consistent and timely feedback throughout the lending process, anticipating borrower needs and vigilantly maintaining service level agreements.
Responsible for adhering to compliance and regulatory requirements.
Effectively and efficiently monitors a pipeline of at least 50 loans with the goal of closing at least 25 loans per month.
Obtains necessary customer documentation to support data provided in the applications.
Reviews customer submitted documentation to ensure the documentation meets the program guidelines.
Enters applicant information into the mortgage software platform, prints necessary documents, and completes loan files. Necessary documents include upfront compliance disclosures, such as the 1003 application for mortgages or the LOA application for other consumer loans, the good faith estimate, the initial truth in lending, income and asset information, etc.
Validates credit reports, orders appraisals, surveys and title insurance and requests payoffs from other mortgage companies. Calculates income to include self-employed borrowers. Updates loan files, the mortgage software platform and tracking system as information is received. Prepares final loan package for approval.
Mails Verification of Deposit, Verification of Employment and Verification of Mortgage forms if alternative documentation is not available. Updates loan files and tracking system once forms are returned.
Updates insurance information on the mortgage software platform. Contacts insurance companies for insurance policies not received.
Completes file maintenance on all mortgage loans as instructed.
Processes loan to conform to product guidelines. Gathers all requirements and prepares loan for underwriting approval.
When final underwriting approval is obtained, prepares closing instructions and coordinates closing dates with closing agent and customer
Performs other duties as assigned.
Qualifications
Must have a high school degree or equivalent. College preferred.
Must be able to communicate with staff, members, and outside contacts proficiently, in both oral and written communications.
Must be able to exercise confidentiality.
Must be detail-oriented and able to perform all duties accurately.
Must have strong organizational and multi-tasking skills.
Must have basic computer skills, i.e., word processing, spreadsheets and menu-driven software.
Must be able to work effectively to meet deadlines.
Must be able to work effectively independently and with others.
Must be able to work with numerous interruptions.
Experience:
Grade 13 requires 3 - 5 years' mortgage processing product knowledge of large bank lending guidelines or Fannie Mae/Freddie Mac experience. Two or more years' experience in FHA/VA mortgage processing is preferred.
Grade 15 requires 5+ years' mortgage processing product knowledge of large bank lending guidelines or Fannie Mae/Freddie Mac experience. Two or more years' experience in FHA/VA mortgage processing is preferred.
Job ID: 2014-79834
Site Name: AL-BIRMINGHAM-HOMEWOOD ADMIN CENTER
Category: MORTGAGE OPERATIONS
FLSA Status: NON-EXEMPT
Type: FULL TIME

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