At Bank of the West, our people are having a positive impact on the world. We’re investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, and promoting programs for sustainable energy. From our locations across the U.S., Bank of the West is taking action to help protect the planet, improve people’s lives, and strengthen communities. We are part of BNP Paribas, a global leader supporting the UN Sustainable Development Goals (SDGs). Yes, we’re a bank, but as the bank for a changing world, we are continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth.
Job Description Summary
Responsible for performing a variety of processing functions for moderate to complex loan files including FHA and VA, while ensuring a timely, accurate and cost effective support of the Bank's lending operations. Processing functions include: desktop underwriting, receipt of loan documentation, and ordering of third party items through preparation of package for loan closing. Ensures compliance in all areas of desktop underwriting, PMI and secondary market guidelines. Meets timeline and objectives daily while handling customer inquiries and detecting deficiencies in the loan early in the process.
Essential Job Functions
- Receives loan application from MB and reviews documents to ensure all necessary forms have been completed and comply with underwriting, PMI and secondary market guidelines.
- Determines and evaluates documentation needed to comply with underwriting, PMI, secondary markets marketing and government agency guidelines. Suggests alternative methods to obtain satisfactory documentation when necessary. Detects non-qualifying applicants early in the process and recommends innovative viable alternatives to qualify the loan.
- Sets up loan files and enters information for tracking of loan. Submits loans trough DU/LP automated underwriting system upon validation. Prepares and mails initial or revised disclosures, if applicable.
- Verifies credit report, income and assets, and orders preliminary title report, appraisal, fee/escrow instructions and all verifications necessary to complete the loan file. Solves problems and offers solutions to processors when verifications alter the quality of the loan. Prepares loans for processing sign off within specified number of days.
- Reviews and evaluates all documents, including tax returns using judgment to ensure loan falls within guidelines per loan type.
- Determines allowable income to be used for loan calculations that comply with underwriting guidelines, including complex personal and business tax returns.
- Works with the team leader on file flow, and proactively assures timely completion of the file. Offers alternatives and solutions to meet time frames and guidelines. Reviews and validates the appraisal to ensure it complies with agency and USPAP/FIRREA guidelines. Communicates with customers, MB;s and authorized employees to satisfy loan conditions as well as the status of the loan application. Ensures that all loans are in compliance with internal Bank guidelines and external state and federal regulations (i.e. USPAP, FIRREA, HMDA, RESPA, FNMA, FHLMC, and Fair Lending).
Other Job Duties
- Performs other duties as assigned.
- Requires broad knowledge of operational systems and
practices typically gained through extensive experience and/or education.
- Requires 5 years minimum experience.
- May require vocational or technical education in
addition to prior work experience.
- High School Diploma or GED Required
- Thorough verbal and written communication skills.
- Typing of 40-45 WPM.
- Knowledge of 10-key, calculator.
- Photocopier and fax machine.
- Maintains filing system.
- Math and analysis.
- PC Proficiencies with Windows based software in Word,
Outlook and Excel.
Equal Employment Opportunity Policy
Bank of the West is an Equal Opportunity employer and proud to provide equal
employment opportunity to all job seekers without regard to any status
protected by applicable law. Bank of the West is also an Affirmative Action
employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with
criminal histories pursuant to the San Francisco Fair Chance Ordinance subject
to the requirements of all state and federal laws and regulations.
Primary Location: United States-Nebraska-OmahaJob Type: Full-timeJob: Mortgage