Loan Processor - Assumption, Direct Lending Processing at Onity

, , United States -

Full Time

Start Date

Immediate

Expiry Date

19 Jun, 26

Salary

28.13

Posted On

21 Mar, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Loan Processing, Credit Analysis, Risk Management, Documentation Verification, Underwriting Preparation, Communication, Appraisal Review, AUS Findings Review, Title Report Review, Credit Report Review, Income Calculation, LOS System Utilization, GFE Knowledge, APR Knowledge, Time Management, Regulatory Compliance

Industry

Financial Services

Description

Reporting to the Manager, Processing, the Loan Processor will ensure the timely and accurate packaging of all loans originated by our loan officers and lender clients. Responsibilities also include assisting Credit Analysts with the credit approval and monitoring process by gathering financial and credit information with a focus on credit quality and overall risk management. Job Functions and Responsibilities: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. * Gather information and take each file from pre-approval to closing. * Input proper loan information into the system for processing. * Responsible for ensuring that all loan documentation is complete accurate verified and complies with company policy. * Verify loan documents including income credit appraisal and title insurance ultimately preparing application for submittal to underwriting. * Review file documentation and make sure all items needed are requested. Order and coordinate loan documents. * Meet crucial deadlines requested. * Communicate with borrowers, fellow employees and clients in a manner that shows sensitivity, tact, and professionalism * Contact each borrower in a timely manner to introduce yourself and go over the process and items needed * Read and understand appraisals, AUS findings, title and credit reports; * Utilize basic business math to calculate income, assets, taxes and monthly insurance * Understand rules regulations, policies and/or procedures along with investor guidelines * Maintain current knowledge about the industry, market trends, competitive position, etc. * Strive to achieve and exceed productivity expectations and standards. * Work closely with vendors Qualifications: To perform this job successfully, an individual must have the following education and/or experience: * High school diploma, GED, equivalent certification, or military experience * Minimum 5 years of recent experience as Loan Processor is required * Minimum 2 years of recent experience as an Assumption Loan Processor is required * Read, interpret and apply applicable laws, rules, regulations and/or policies and procedures * Demonstrate interpersonal, organizational and time management skills * Accurately document all information pertaining to accounts * Knowledge of the laws governing access to public and private records * Strong computer skills; Must be able to move through the LOS system and other programs * Time management: Knowing the cut-off times for funding and underwriting so that the file moves smoothly and does not lose a rate lock. * Knowledge of GFE, APR, interest rates and disclosure/re-disclosure time lines * Ability to operate in a fast paced environment * Perform any additional duties/activities assigned or needed by the business Training/Licensing Requirements: * Must pass the Company’s Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable. The salary for this position is expected to be $28.13 per hour. This position is also eligible for monthly incentive based on performance and subject to the terms of the Company’s applicable plans. Onity Group Inc. is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage, a subsidiary of Onity Group Inc., has been providing mortgage lending and servicing solutions since 1984 and is dedicated to maintaining responsible and ethical practices while delivering an exceptional customer experience. PHH offers industry-leading mortgage solutions for the entire mortgage lifecycle, including correspondent lending, MSR/Co-Issue, subservicing, commercial servicing, reverse mortgages and portfolio retention. We are one of the largest subservicers of residential mortgages in the United States and one of only two servicers in reverse mortgage lending. At Onity Group Inc., we consistently deliver on our commitments to customers, clients, investors and colleagues through caring service, integrity and creative solutions. This Service Excellence philosophy is embraced by meeting service standards we call CARE, which stands for Caring, Accurate, Responsive and Empowered. We expect all employees to interact and engage our colleagues and our customers with respect, courtesy and professionalism, and to achieve results consistent with our CARE standards. Onity Group Inc. is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity, Equity & Inclusion ensures that we sustain our reputation as an outstanding place to work, a great business partner and a valued community member. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know. Onity Group Inc. offers a comprehensive benefits package including medical, dental and vision; up to 3% match on 401(k) contributions; generous paid time off; company-paid life, accident and disability coverage; programs for mental, physical and financial wellness; and more. Visit jobs.onitygroup.com for details.

Responsibilities

The Loan Processor is responsible for the timely and accurate packaging of all originated loans, guiding files from pre-approval through closing. This includes gathering and verifying all necessary loan documentation and assisting Credit Analysts with credit approval and monitoring processes.