Real Estate Loan Assistant- Secondary Market

Summary

The Real Estate Loan Assistant – Secondary Market partners closely with the Bank’s real estate lending team to coordinate and process residential mortgage loans, with a primary focus on secondary-market loans. This position manages the administrative and processing components of the mortgage loan process from application through closing, funding, delivery to the investor, and post-closing follow-up.

The position is responsible for gathering and reviewing borrower and property documentation, coordinating third-party services, preparing and reviewing loan documentation, monitoring loan requirements and deadlines, and ensuring loans are processed accurately and in accordance with investor requirements, Bank policy, and applicable regulatory requirements.

This position requires prior secondary-market mortgage lending or loan processing experience, strong knowledge of residential real estate lending and secondary-market requirements, exceptional attention to detail, and the ability to independently manage multiple loans and meet deadlines while providing outstanding service to customers, lenders, and third-party partners.

Essential Duties and Responsibilities

Secondary Market Mortgage Processing

1. Coordinate and process secondary-market residential mortgage loans from application through closing, funding, investor delivery, and post-closing.
2. Partner closely with Mortgage Loan Originators and other members of the Lending Team to facilitate an efficient mortgage process and provide timely communication regarding loan status, documentation requirements, and outstanding items.
3. Review loan applications and supporting documentation for completeness and accuracy and identify missing information or documentation needed to move the loan through the processing and closing process.
4. Obtain and process required borrower documentation, including income and employment verification, asset and deposit verification, credit documentation, insurance information, and other supporting documentation required for the loan.
5. Order and coordinate third-party services, including appraisals, title work, flood determinations, credit reports, verifications, and other services required for residential real estate transactions.
6. Monitor loan files throughout the mortgage process and proactively follow up with borrowers, lenders, title companies, appraisers, insurance agents, and other third parties to ensure outstanding requirements are satisfied within established deadlines.
7. Assist with satisfying underwriting conditions and preparing completed loan files for final approval and closing.
8. Maintain knowledge of secondary-market investor guidelines, documentation requirements, and delivery standards applicable to the Bank's residential mortgage products.
9. Coordinate with secondary-market investors and other mortgage partners regarding loan documentation, funding, delivery requirements, outstanding conditions, and post-closing documentation.
10. Prepare and submit final loan packages and required documentation to investors accurately and within required timeframes.

Real Estate Loan Documentation and Closing

1. Prepare and review residential real estate loan documentation, closing worksheets, disclosures, and closing packages to ensure accuracy, completeness, and consistency with loan approval and applicable requirements.
2. Coordinate loan closings with lenders, borrowers, title companies, realtors, attorneys, and other parties involved in the transaction.
3. Ensure documentation necessary to clear title issues, perfect liens, establish appropriate insurance coverage, and satisfy other closing requirements is obtained prior to closing.
4. Assist with loan funding and disbursement activities and verify that funding requirements have been satisfied.
5. Review executed closing documents for accuracy and completeness and coordinate correction of documentation deficiencies as necessary.
6. Complete post-closing activities, including document imaging, investor delivery, trailing document follow-up, and final file review.
7. Process mortgage loan payoffs and ensure satisfactions, releases, and other applicable collateral documentation are completed accurately and timely.

In-House Residential Real Estate Support

1. Provide processing and documentation support for in-house residential real estate loans, including conventional mortgages, home equity loans and lines of credit, construction loans, and other consumer real estate products as assigned.
2. Prepare and review applicable in-house real estate loan documentation and coordinate closing requirements in accordance with Bank policy and regulatory requirements.
3. Assist with other residential real estate lending programs offered by the Bank as needed.

Compliance, File Management and Quality Control

1. Maintain accurate and complete electronic loan files and ensure required documentation is appropriately imaged and retained in accordance with Bank procedures and record-retention requirements.
2. Monitor document exceptions, ticklers, trailing documents, and outstanding loan conditions to minimize Bank risk and ensure timely resolution.
3. Maintain working knowledge of applicable residential mortgage lending regulations, including TRID, RESPA, and other consumer real estate lending compliance requirements relevant to assigned responsibilities.
4. Maintain working knowledge of the Bank's Loan Policy, Credit Administration Procedures, secondary-market requirements, and applicable state and federal regulations.
5. Assist with internal audits, regulatory examinations, investor reviews, quality-control requests, and loan-file research as needed.

Customer & Team Support

1. Provide professional, knowledgeable, and responsive service to borrowers throughout the mortgage process, including assisting with questions regarding documentation, closing requirements, loan status, and servicing matters.
2. Develop and maintain professional working relationships with lenders, customers, title companies, appraisers, insurance agents, investors, realtors, attorneys, and other third-party partners.
3. Communicate proactively with the lending team regarding loan status, potential delays, documentation issues, and other matters that may affect closing or investor delivery.
4. Cross-train and provide backup support to other members of the Lending and Loan Administration teams as needed.
5. Complete additional duties and special projects as assigned.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience

• High School Diploma required; Associate degree in Business, Finance, Accounting, or related field preferred.
• Minimum of two (2) years of residential real estate loan processing, underwriting coordination, closing, or secondary market experience.

Other Skills and Abilities

• Familiar with Fannie Mae, Freddie Mac, FHA, VA & USDA investor requirements.
• Work independently to organize and prioritize tasks, manage time to meet deadlines, analyze requests, understand issues, and develop appropriate solutions.
• Strong organizational skills with exceptional attention to detail and accuracy.
• Proficient in computer applications, including Microsoft Word, Excel, and Outlook.

Experience with loan origination systems Encompass LaserPro and Fiserv Premier preferred.

• Maintain a consistent positive attitude.
• Requires an outgoing, friendly, and enthusiastic team-oriented personality.
• Must be able to work in person at the Willmar, MN, office.

Job Specifications

Work Direction: Incumbent receives work direction from the SVP-Real Estate as needed. The incumbent exercises independent judgment and decision-making within established bank policies, procedures, and lending guidelines. Management is available for guidance as needed.

Work Relationships: This position has daily contact with customers, lenders, and third-party vendors regarding loan issues via the phone, in person, fax, or written correspondence. Must be able to communicate in a clear, concise, and pleasant manner.

Work Environment: Normal office environment

Supervisory Responsibilities: This position has no supervisory responsibilities.

Key Performance Competencies

Customer Service: Shows commitment to providing above-average and excellent customer service to external and internal customers. Establishes and maintains strong customer relationships.

Teamwork: Develops and maintains positive working relationships; listens effectively and asks for clarification when needed. Actively pursues objectives and works with others to achieve department and Bank goals. Shows respect and responsiveness. Adheres to attendance and punctuality guidelines.

Results Orientation: Plans, organizes, and uses time, technology, and resources efficiently. Follows through on accountabilities, including meeting quantity and quality expectations.

Works on the highest priority activities . Demonstrates ability to shift priorities and reorganize efforts as circumstances change. Works at a level that allows for the achievement of bank, department, and/or individual goals.

Competence: Demonstrates knowledge and skills required for the position. Handles job accountabilities within policy, procedure, and in compliance with applicable rules and regulations. Shows continued commitment to developing skills. Able to handle multiple priorities. Is accountable and takes ownership when problems arise, solutions are needed, or changes are necessary.

Professionalism: Provides professional experience for internal and external customers. Demonstrates professional knowledge, service, appearance, and communication. Upholds confidentiality at all times.

Expectations

• Exemplify Home State Bank's core values: Customer Focused, Collective Wisdom, Community Driven, Committed, and Collaboration.
• Provides open communication to the supervisor when assignments cannot be met due to training needs, equipment problems, or time constraints.
• Upholds the employment guidelines outlined in the Employee Handbook.
• Develops and maintains knowledge of compliance and internal control requirements necessary to complete the job.
• Perform duties in compliance with policy, procedure, and process. Including completing annual BSA training.

Physical, Mental, or Other

Must be able to meet daily deadlines. Must be extremely accurate. Will need to handle stressful situations and function in a fast-paced environment while remaining calm and precise. Must have excellent interpersonal and organizational skills and enjoy working with the public. Will need to communicate clearly, concisely, and pleasantly. There are times when this position will require working until a project is completed, which may require working longer hours than the normal 8:00 AM to 4:30 PM.

Home State Bank is committed to equal employment opportunities. Because of this, all employment decisions will be based only on work-related factors such as experience, education, training, and performance and not due to any legally protected class, including but not limited to race, creed, color, religion, national origin, sex, age, marital status, sexual orientation, gender identity, citizenship status, veteran status, disability or any other characteristic protected by applicable federal, state, or local law.

The above-noted job description is not intended to cover or contain a comprehensive listing of the activities, duties, or responsibilities required of the employee. Duties, responsibilities, and activities may change, or new ones may be assigned at any time with or without notice.