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Correspondent Loan Funder at Iowa Bankers Mortgage Corporation
Urbandale, Iowa, United States -
Full Time

Start Date

Immediate

Expiry Date

29 Sep, 26

Salary

0.0

Posted On

01 Jul, 26

Experience

0 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

No

Skills

Loan Auditing, Mortgage Processing, Encompass Loan Origination System, Data Verification, Pipeline Management, Residential Mortgage Analysis, Compliance Auditing, Purchase Approval

Industry

Banking

Description
Description Role Definition: Indexes and audits correspondent closed loan files, communicates pre-purchase conditions to bank contacts, and approve loans for purchase in a timely manner to meet investor delivery commitments. I. Conduct pre-purchase audit of loan files submitted by Alliance and Traditional Correspondent Banks for purchase to ensure completeness, accuracy, and adherence to IBMC and investor guidelines. Identify deficiencies that may prevent loans from aligning with investor or internal guidelines. Escalate issues as necessary. II. Input and verify data in the Loan Origination System to ensure accurate data is delivered to investors. III. Provide proactive communication to banks regarding active pipeline and purchase conditions. Respond to inquiries as necessary to resolve issues and provide superior service to correspondent partners. IV. Review and clear purchase conditions for purchase approval. Update loan transaction details with complete purchase information and reconcile final purchase transaction. Process and distribute Purchase Advice to bank contacts. V. Manage daily pipelines, ensuring timely processing within IBMC expected service levels. VI. Complete document upload and accurate indexing within Loan Origination System. Requirements A. Required Education: High school diploma or general education degree (GED) B. Required Work Experience: One to two years of related experience and/or training within the mortgage industry; or equivalent combination of education and experience. C. Technology Skills: Encompass Loan Origination System D. Required Skills or traits for the position: Experience processing or analyzing residential mortgage loans.
Responsibilities
The role involves auditing closed loan files for accuracy and adherence to guidelines to approve loans for purchase. It also requires managing daily pipelines and communicating purchase conditions to bank contacts.