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  • Canton, OH 44702

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Loan Specialist

Dollar Bank • Canton, OH

Posted 8 days ago

Job Snapshot

Full-Time
Degree - High School
Banking - Financial Services
Banking
2

Applicants

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Job Description

Job Function/Purpose

The purpose of the loan specialist position is to perform all functions relating to loan boarding including the establishment of the escrow lines and to ensure all loans funded by Dollar Bank's Residential Lending Department or Correspondent Funding Department arrive at DBSC and are set-up on the servicing system within the timeframes required to meet regulatory requirements. The specialist must verify the interest and escrow money received and posted to the customer's loan at the time of loan boarding and must be specialized in all types of loans as the department boards purchased loans (LSBO), consumer URA loans, RDFC commercial loans, loans acquired through transfers, mergers or acquisitions. For loans originated by the Bank, the position is responsible for receiving and tracking incoming closing packages and for completing post-closing audit to determine that all conditions of closing have been satisfied and meet investor requirements.

Qualifications

High School diploma or GED required
Requires a minimum of two (2) years in closing/post-closing or five (5) years mortgage banking experience in related areas
Knowledge and understanding of mortgage banking principles, lending requirements, and secondary marketing exceptions and requirements
Knowledge of loan documentation and understanding of investor guidelines relative to loan closing and delivery
Must have accurate data entry skills
Must have excellent mathematical and analytical skills
Must be able to manage time efficiently, prioritize tasks, and meet deadlines
Must have excellent written, and verbal communication skills
Must have strong propensity for detail, accuracy, and work independently with minimal supervision
Must be professional and courteous with internal and external customers
Working knowledge of Windows and Microsoft Office applications

Principal Activities/Objectives

Perform post closing audits to determine all conditions of closing and underwriting have been satisfied
Identify deficiencies through the post-closing audit process and send notification to the designated area/person for the follow-up process to begin.
Perform salability audit on Private Banking loans to determine if the loans are eligible for sale and complies with regulatory compliance
Follow-up with Dollar Bank, title companies, or others for all closing packages and credit files not received within required timeframes
Complete a comprehensive review of information entered through the front end origination system with documents to ensure loans are closed and set-up as they were approved
Board all loans to the servicing system via LOI, scripts, or a manual board process. This includes setup of all respective escrow lines on the servicing system.
Complete any necessary research to obtain information needed to accurately establish the loan boarding tasks for complete loan setup.
Data verification of critical terms and noncritical information
Assist in cross-training of appropriate personnel to ensure functions are not impacted during staff shortages.

Note:

Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.

Job Requirements

Job Function/Purpose

The purpose of the loan specialist position is to perform all functions relating to loan boarding including the establishment of the escrow lines and to ensure all loans funded by Dollar Bank's Residential Lending Department or Correspondent Funding Department arrive at DBSC and are set-up on the servicing system within the timeframes required to meet regulatory requirements. The specialist must verify the interest and escrow money received and posted to the customer's loan at the time of loan boarding and must be specialized in all types of loans as the department boards purchased loans (LSBO), consumer URA loans, RDFC commercial loans, loans acquired through transfers, mergers or acquisitions. For loans originated by the Bank, the position is responsible for receiving and tracking incoming closing packages and for completing post-closing audit to determine that all conditions of closing have been satisfied and meet investor requirements.

Qualifications

High School diploma or GED required
Requires a minimum of two (2) years in closing/post-closing or five (5) years mortgage banking experience in related areas
Knowledge and understanding of mortgage banking principles, lending requirements, and secondary marketing exceptions and requirements
Knowledge of loan documentation and understanding of investor guidelines relative to loan closing and delivery
Must have accurate data entry skills
Must have excellent mathematical and analytical skills
Must be able to manage time efficiently, prioritize tasks, and meet deadlines
Must have excellent written, and verbal communication skills
Must have strong propensity for detail, accuracy, and work independently with minimal supervision
Must be professional and courteous with internal and external customers
Working knowledge of Windows and Microsoft Office applications

Principal Activities/Objectives

Perform post closing audits to determine all conditions of closing and underwriting have been satisfied
Identify deficiencies through the post-closing audit process and send notification to the designated area/person for the follow-up process to begin.
Perform salability audit on Private Banking loans to determine if the loans are eligible for sale and complies with regulatory compliance
Follow-up with Dollar Bank, title companies, or others for all closing packages and credit files not received within required timeframes
Complete a comprehensive review of information entered through the front end origination system with documents to ensure loans are closed and set-up as they were approved
Board all loans to the servicing system via LOI, scripts, or a manual board process. This includes setup of all respective escrow lines on the servicing system.
Complete any necessary research to obtain information needed to accurately establish the loan boarding tasks for complete loan setup.
Data verification of critical terms and noncritical information
Assist in cross-training of appropriate personnel to ensure functions are not impacted during staff shortages.

Note:

Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.
Job ID: 1655BR
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