Loan Assumption Specialist - Temporary Assignment

Job Description

Job Description

The Loan Assumption Processing & Closing Specialist (Temporary Assignment) will work with applicants and borrowers who wish to assume the mortgage terms and payment of qualified mortgage loans through a transfer of ownership.

Essential Duties and Responsibilities :

• Receive assumption request applications and prepare preliminary paperwork, drafting assumption package, communicating with borrowers, assumers.
• Review file documents to ensure completeness; preparing file for underwriting approval; assumption loan processing, drafting all documents.
• Manages a pipeline of loans. Reviews file submissions for accuracy and completeness. Verifies that all required documents are properly located in the loan file.
• Understand and ensures all compliance and regulatory are adhered to according to federal and state laws and regulations.
• Submits completed loan package to underwriter for review and approval.
• Upon review and approval of underwriter, prepares the loan closing package.
• Review loan packages, scheduling closings and preparation of loan closing documents
• Process additions and removals of borrowers from deed when changes occur and verify receipt of supporting documentation for deed transfers.
• Follow procedures to ensure compliance applicable to federal, state, local, investors or other regulatory disclosures and requirements.

Position Requirements

Education :

Experience

Functional / Technical Skills