Job Description

Position Summary:

Reporting to FMS Leadership, this position is responsible for ensuring the accuracy, completeness and compliance of closed loan packages in accordance with state, agency and investor guidelines. This role facilitates the successful delivery and purchase of loans by investors while maintaining compliance with all regulatory and company standards.

Additionally, this position effectively communicates with investors throughout the closing process and resolves discrepancies, proactively addressing investor concerns. This role manages post-closing conditions and coordinates the timely delivery of all required documentation to ensure successful loan purchase.

Core Functions and Responsibilities:

• Review closed loan packages, verifying that packages are complete and conform to all state, agency and investor guidelines.
• Identify and resolve any discrepancies to ensure successful loan purchase.
• Deliver collateral documentation to warehouse banks, ensuring complete and accurate loan packages are delivered to investors within required timeframes.
• Partner directly with investors to clear post-closing and pre/ post-purchase conditions.
• Communicate with investors to proactively address concerns and facilitate smooth loan purchases.
• Manage loan files and accurately index loan documents in the Loan Origination System (LOS) to ensure proper placement and record-keeping.
• Monitor pipeline to ensure all post-closing tasks are completed within service level agreements (SLAs).
• Receive and review trailing documents for compliance before delivering them to investors, ensuring all required documentation is provided within investor deadlines.
• Prepare and deliver loan boarding tapes and loan packages for servicing transfers.
• Complete and submit insurance applications for FHA loans and fulfill required transfers for Mortgage Insurance (MI), Private Mortgage Insurance (PMI), hazard insurance and MERS.
• Review and reconcile purchase advice/ funding schedules to confirm alignment with agreed-upon commitment pricing, escalating any discrepancies to Secondary Marketing for resolution.
• Develop strategies to minimize errors and reduce investor conditions on delivered loans.
• Satisfy all internal and external audit and examination requests within the required timeframe.
• Develop domain knowledge of Fay’s business to include an understanding of organizational objectives.
• Develop positive working relationships within the team and across the organization.
• Ensure compliance with Fay’s policies, processes and practices. Successfully complete all department and company required training.
• Model Fay’s Values, Operating Principles, ethical standards, professionalism and code of conduct.
• Demonstrate behaviors that align with Fay's Values and Operating Principles.
• Perform other duties and responsibilities as assigned.

Qualifications Required:

• High School Diploma or GED required; Associate or Bachelor’s degree preferred
• 2+ years’ experience with investor delivery and post-closing in mortgage lending required
• 2+ years’ experience reviewing FHA loan documentation and completing the insurance process
• Prior experience with Conventional, FHA, VA, Jumbo and residential non-QM loans preferred
• Prior experience with Secondary Marketing preferred
• Strong knowledge of agency and investor guidelines, as well as federal and state regulations
• Experience working with Loan Origination Systems (LOS), preferably Encompass, and capital markets software (i.e., Optimal Blue)
• Solid skills and experience in MS Word, Excel and Outlook

Skills & Abilities

• Strong verbal and written communication skills
• Strong interpersonal skills
• Strong analytical skills
• Solid decision-making abilities coupled with sound judgment
• Strong time management skills
• Ability to prioritize numerous tasks and manage shifting priorities
• Client focused with strong execution skills and results orientation
• High-level of precision with attention to detail and consistency
• Flexible, open to change, ability to learn new things quickly
• Ability to work in a collaborative environment and provide guidance for working groups

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