Home Equity Loan Specialist

POSITION PURPOSE

Responsible for providing exceptional member experience by keeping clients informed, addressing concerns promptly, and ensuring a smooth loan process. Communicates directly with loan applicants to satisfy stipulations from underwriting, obtain documentation required for processing loans, including documentation for external payoffs and existing lien. Responsible for HELOC closing and disbursement document preparation, ensuring compliance with applicable laws and regulations and maintaining accurate disclosures and timelines.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

1.    Manage end-to-end process of real estate loans, from application through post-closing. Ensure loan applicant documentation is complete, accurate, and compliant with company policies and underwriter requirements. Review and verify key documents, including income, employment, bank statements, credit reports, AVM and/or appraisals, applications, debt ratios, interest rates, notes, security agreements, insurance, title documents, and all necessary approvals, payments, and disclosures. 

2.    Gather background on loan applicants, research any discrepancies, communicate with loan applicants and loan officers to obtain missing or updated documentation. 

3.    Consult with management to resolve issues on loan applications not meeting established guidelines. 

4.    Enter loan application information into Encompass loan operating system. Review data input to ensure all databases are properly updated. Audit the daily exception report to ensure all exceptions are documented. 

5.    Coordinate loan closing with loan applicants, loan officers and third parties. Contact loan applicants upon loan origination, confirming loan terms and conditions, and mail necessary form letters and loan forms.

6.    Prioritize in accordance with company’s timeline expectations and adhere to all loan underwriting and processing policies and procedures. 

7.    Disburse all loan funding accurately and timely. Issue checks for required payoffs.

8.    All other related duties as assigned.

QUALIFICATIONS

EDUCATION/CERTIFICATION: Associate's degree in business and/or a minimum three years’ experience with real estate or similar transactions required. Bachelor’s degree preferred.
    
EXPERIENCE REQUIRED: Minimum three (3) years of experience in real estate loan processing or closing.

REQUIRED KNOWLEDGE:    
Software proficiency in with Microsoft Word, Excel, and loan operating systems such as Encompass, and Corelation.
Knowledge of residential lending processes, related requirements, procedures, and operations is essential.
Knowledge of real estate principles, practices, rules, regulations, sales
Understanding of loan products and services.  
Knowledge of RESPA, TRID, HMDA, Reg B, and Reg Z requirements. 

SKILLS/ABILITIES:        
Effective verbal and written communication skills and proven ability to establish and maintain effective relationships with internal and external contacts, including loan applicants, loan officers, and other stakeholders.
Excellent time management skills in order to manage assigned loan pipeline and meet closing expectations in a fast-paced environment.
Excellent organizational skills, attention to detail, and accuracy.
Ability to work independently while maintaining high productivity.
Ability to analyze situations and recommend workable solutions.
Ability to interpret mortgage, title, escrow, insurance, and legal documents.

WORK ENVIRONMENT: Some evening hours. Work is generally carried out in a typical office setting. While performing the duties of this job, the working conditions are those of a typical office environment, with temperatures occasionally too warm or too cold, moderate noise levels and underlighting conditions of a typical office. Possibility for some remote work as needed.