While actively pursuing their Mortgage Origination Officer License from Nationwide Mortgage Licensing System (NMLS) within the 90 day required time frame for continuation of employment, the Loan Officer Trainee I, will also be responsible for assisting with all tasks related to quality loan processing, reviewing files for adherence to underwriting standards and ensuring completeness of submission. 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:
- Complete all required online studying, education and testing to pass and receive your Mortgage Origination Officer License from the Nationwide Mortgage Licensing System (NMLS) within 90 days of date of hire into the Loan Officer Trainee I role.
- Mirror / shadow all Mortgage Lending Division (MLD) job functions, Processing, Operations and Sales.
- Conduct inbound / outbound calls to qualified borrowers to facilitate a warm call transfer to a licensed Loan Officer.
- Organize and input loan information received into the company’s Loan Origination System (LOS) and other related systems as required.
- Assist with new Loan Officer new loan set up.
- Scan, copy, and analyze various documents including tax returns/schedules, bank statements and purchase contracts. Upload into Encompass as needed. Utilize Nautilus to obtain customer records.
- Collect verification of employment for prequalification to document commissions and bonuses income prior to approval letter for proper procurement.
- Assist with obtaining necessary information post application (i.e., credit documents, appraisals, etc.) to process and complete mortgage loan files.
- Ensure the quality and compliance of work with Company policies, procedures, and investor guidelines.
- Monitor incoming documents verifying data collected by Loan Officers or agents.
- Verify and validate customer information on the loan application against supporting documents provided by the borrower and lender.
- Review, analyze and calculate qualifying income documentation from various sources including personal tax returns to more complex business returns.
- Review and analyze property valuations, assets and credit reports.
- Review and validate files for completeness and accuracy.
- Structure and organize files based on investor guidelines.
- Review and package loan submissions for processing
- Liaise with Loan Officers and Loan Processors regarding conditions needed for approval and final approval.
- Assist with loan scheduling and post-closing conditions.
- Assist departmental support staff when necessary.
- Perform other related duties as assigned.