Assumption Processor
: Job Details :

Ewing Township, New Jersey**Job Description:Hiring for 2 roles within this group - one will be more focused on the front end and one on the back end of assumption loan process. Front end: someone with originations or loan processing experience. May interact with borrowers, need to understand mortgage servicing, making calls, collecting paperwork, etc.Back end: someone with loan closing experience, title experience, prepping closing documentation, disclosure experience The Assumption Processor is responsible for evaluating initial assumption applications for eligibility based on investor guidelines, including VA, FHA, Fannie Mae, Freddie Mac and private investors. The processor works primarily with borrowers and applicants to receive and review loan applications, send/receive disclosures, pull credit, calculate debt-to-income ratios, obtain conditions, and submits complete packages to underwriting for a credit-qualifying review. Responsibilities:• Responsible for Customer, Client, Third Party Interaction, including phone, email, and paper communication• Performs reviews and processing with comprehensive understanding of agency and other investor guidelines, all mortgage legal documents and compliance issues • Reviews assumption requests for eligibility based on client and investor guidelines• Prepares and sends new assumption applications to eligible parties• Serves as point of contact for all assumption questions; walks borrower/applicant through assumption process and set expectations around processing, underwriting and closing timelines • Reviews incoming applications to determine completeness; works with borrowers/applicants to obtain missing documentation, such as bank statements, pay stubs, processing fees, property tax bills, etc. • Ensures NMLS certification is completed annually to maintain active LO status• Prepares various TRID disclosures, including Loan Estimates, at the onset of the assumption process to ensure compliance with investor and regulatory requirements• Submits complete applications to underwriting • Works with applicant to obtain any conditions as determined by the underwriter• Maintains knowledge of investor assumption guidelines; i.e. – required credit score, DTI, ratios• Provides direct contact for applicant, borrower and client status inquiries• Pulls credit reports, property reports and verification of employment for review, as needed• Monitors changes in investor guidelines and update policies and procedures accordingly.• Assists in creating policies and procedures for Special Products management• Identifies opportunities for process improvement, and works with Special Products management to implement.• Assists with other projects as assigned by Special Products Management• Provide training for incoming processors• Appropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Clients reputation as well as our customers, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.Skills:mortgage processing, loan origination, loan closing, assumption loan, calyxAdditional Skills & Qualifications:Knowledge of Calyx preferredPrior Assumptions experience is a big plusAbout TEKsystems:We're partners in transformation. We help clients activate ideas and solutions to take advantage of a new world of opportunity. We are a team of 80,000 strong, working with over 6,000 clients, including 80% of the Fortune 500, across North America, Europe and Asia. As an industry leader in Full-Stack Technology Services, Talent Services, and real-world application, we work with progressive leaders to drive change. That's the power of true partnership. TEKsystems is an Allegis Group company. The company is an equal opportunity employer and will consider all applications without regards to race, sex, age, color, religion, national origin, veteran status, disability, sexual orientation, gender identity, genetic information or any characteristic protected by law.Job SummaryJob number: JP-004766220Date posted : 2024-09-23Profession: OtherEmployment type: Contract