Mortgage CLD/Assumption Processor

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The Mortgage CLD/Assumption Processor processes 14-unit, single family mortgage loan application requests.
The Processor will review all relevant items of the loan file, order necessary verifications, and analyze the documentation provided to ensure it meets the requirements for the requested loan program, which could be any of the following:
Conventional, FHA, VA, RD, Jumbo, Bond, HUD 184, or Inhouse.
The Processor is required to communicate with borrowers, mortgage loan officers, title companies, insurance agents, and other parties as needed.
The Mortgage CLD/Assumption Processor will be expected to effectively manage a pipeline and must complete all duties with a high degree of efficiency, accuracy, and complete confidentiality.

We are seeking candidates who embrace diversity, equity, and inclusion in a workplace where everyone feels valued and inspired.

What Youll Do at Arvest:
(Other duties may be assigned.)

Complete an initial review of each loan file to verify all documents needed to make a credit decision are provided and ensure all documentation meets the program and regulatory guidelines for the loan type requested, within the service level agreement.
Request all necessary third-party verifications, update the loan file with preliminary conditions, communicate conditions to the assigned sales team, then submit the loan file to underwriting for a credit decision.
If applicable, identify a complete list of items missing to make a credit decision and communicate directly with the customer to obtain prior to submitting to underwriting for a credit decision.

Review assumption with release of liability loan requests; contact customer to request and obtain necessary credit documents to process an eligible request.
Present loan offer to customer for acceptance, either verbally or in writing, including, but not limited to, providing disclosures of the loan terms.
Prepare assumption release of liability closing documents.
Maintain customer contact throughout the assumption process, initial application through closing.
Update Mortgage Servicing Portal (MSP).

If not in file and required, order a flood certification.
Review the flood certification for all files to determine if the subject is in a flood zone.
If determined to be in a flood zone, look up and print to the file the flood map to identify the location of all structures.

Review each new loan file as they are received from underwriting within the service level agreement.
Identify a complete list of items needed by reviewing existing documents, underwriting conditions, fraud reports, and all applicable manual guidelines, then communicate directly with the customer and/or third parties to obtain.

Manage all aspects of assigned pipelines, including those for verifications to ensure compliance within the established service level agreement and outstanding requests are followed up on timely.
This includes but is not limited to management of; third-party request, customer requests, required NADs (next action dates), and VVOEs.

Maintain regular communication with borrowers regarding loan files.
Serve as a resource throughout the loan process for questions and updates until the loan closes.

Ensure the loan file reflects the current status by detailing actions taken, follow up dates, and borrower contact within the system by maintaining up to date processor comments.
Collaborate interdepartmentally as needed based on file needs.

Analyze the credit, income, and asset documentation in the file.
Use required income calculation worksheets to document qualifying income (W2 wage earners, retirement, social security, or self-employment).

Analyze personal and business tax returns to calculate qualifying income for self-employed borrowers.

Review customer and hird-party documentation as it is received within service level agreements.
Make appropriate decisions for additional documents needed based on the information received, act to request clarifications or follow up items to comply with program and regulatory requirements.

Reconcile and correct loan applications in the LOS (Loan Origination System) as documents are received from the customer and third parties.
Identify and correct discrepancies found as needed to ensure consistent and accurate information is documented.
Review manual guidelines following LOS updates, remaining aware of any changes that require action.

If the loan request requires an appraisal, monitor, follow up, review, and ensure an appraisal is ordered and delivered timely.
Notify underwriter and appraisal team of any discrepancies identified during the review process.
Work with the assigned mortgage loan officer if additional reports are necessary.

Ensure file compliance with regulatory deadlines by monitoring dates for NOI (Notice of Incomplete) and Reg B.
Once all credit documents are available, ensure Reg B is established and the file sent to underwriting timely.
Issue NOI when the file has borrower items outstanding and has not been submitted to underwriting for a credit decision, closing the file for incompleteness as needed.

Review documents and finalize the file b