Carrington Mortgage Holdings, LLC

  • Correspondent Purchaser

    Job Locations US-CA-Anaheim
    Job ID
    2018-7178
    Position Category
    Operations
    Company
    Carrington Mortgage Services, LLC
    Position Type
    Regular
  • Overview

    Carrington maintains the necessary infrastructure to ensure stability and maximize value during any market cycle. We are a fully integrated mortgage company supporting our customers by providing a broad range of real estate services encompassing nearly all aspects of single family residential real estate transactions in the United States.

     

    Our Mortgage Lending Division is becoming an industry leader by providing competitive mortgage products within our Retail and Wholesale lines of business. We deliver a superior customer experience by meeting individual needs, focusing on financial education, ensuring that our loans close on time and making the entire process as easy as possible. We’re always building our mortgage business with our customers in mind. Join us.

    Responsibilities

    The Correspondent Purchaser will be responsible for purchasing closed loans in a timely manner in accordance to company and investor requirements. Perform all duties in accordance with the company’s policies and procedures, all US state and federal laws and regulations, wherein the company operates.

     

    ESSENTIAL DUTIES AND RESPONSIBILITIES:

     

    • Consistently complete/audit four (4) files per day, plus review conditions
    • Receive and review any outstanding purchasing conditions prior to purchase
    • Complete a  closed loan review to ensure documents were executed correctly
    • Ensure all prior to purchase conditions have been met and set file up for purchasing.
    • Insure all required documentation for Collateral Package is satisfactory prior to purchase
    • Follow up on requested documentation from Loan Delivery
    • Works with appropriate parties to clear any outstanding conditions prior to loan purchase
    • Reviews signed loan documents for compliance with federal, state and local law and company policies and procedures
    • Reviews and approves CD settlement statement from closing agent
    • Verifies and prepares wire transfer instructions
    • Verifies loan amount, all fees, rates, discount points, broker rebates and other loan amounts
    • Reviews signed loan documents for correct signatures, notary information, title reports and escrow instructions
    • Maintains highly confidential information concerning correspondent sellers
    • Inputs loan information into the loan system(s)
    • Follows up with any post-closing issues that may arise
    • Maintains a thorough working knowledge of Company and regulatory changes that effect the closing process
    • Resolves loan purchase discrepancies with the Accounting Department and Shipping Department
    • Assists departmental support staff when necessary
    • Performs other related duties as assigned

    Qualifications

    • Knowledge of mortgage industry and loan documents
    • Knowledge of RESPA, TILA, MDIA requirements
    • Must demonstrate thorough knowledge of all aspects of mortgage loan closing
    • Knowledge of FHA, VA, USDA and Conventional loan products, underwriting procedures, creditor financial analysis techniques, investor requirements and escrow/title practices, as well as regulatory compliance laws as they apply to mortgage transactions.
    • Superior customer service skills
    • Extremely high level of organizational skills and ability to work on several tasks simultaneously
    • Strong mathematical, verbal & written communications skills
    • Strong computer skills (i.e. use of the Microsoft Office suite; Word, Excel, Outlook, etc.) and use of office machines such as copiers, scanners and fax machines.
    • Ability to communicate effectively both verbally and in writing
    • Ability to organize and prioritize workload and meet deadlines

     

    EDUCATION, EXPERIENCE AND/OR LICENSES:

     

    • High school diploma or GED; Associates degree preferred
    • Three (3) to five (5) years’ purchasing closed Correspondent loans and/or funding experience with multiple loan products and warehouse lenders. 
    • Experienced in Conventional, FHA and VA loan programs for wet and dry states
    • Experience working in a paperless environment preferred

     

    MACHINES, OFFICE EQUIPMENT & SOFTWARE:

     

    • Superior knowledge of personal computers and applicable software (i.e. Microsoft office, Microsoft Outlook and Calyx Point, Loan Prospector, Desktop Underwriter).
    • Strong working experience with general office machines such as copiers, scanners, and fax machines.
    • Must be efficient loan operating systems, preferably Encompass 360.

     

    EEO/AAP Employer

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