Correspondent Purchaser

Location

United States

Posted

41 days ago

Salary

0

Seniority

Mid Level

Job Description

Correspondent Purchaser

Acra Lending

Role Description We are looking for candidates to join our team who are passionate about their vocation, committed to making a contribution, and are looking to gain experience in order to grow in their career. Summary: - Assist in managing correspondent client (“Seller”) relationships. - Analyze and compile data related to seller loan purchasing transactions with Acra Lending. - Responsible for purchasing closed loans in a timely manner in accordance with company and investor requirements. - Perform all duties in accordance with the company’s policies and procedures, all US state and federal laws and regulations. Essential Duties and Responsibilities: - Consistently complete/audit files review conditions and verifies loan closing package for accuracy and completeness. - Receive and review any outstanding purchasing conditions prior to purchase. - Complete a closed loan review to ensure documents were executed correctly. - Ensure all prior to purchase conditions have been met and set file up for purchasing. - Ensure all required documentation for Collateral Package is satisfactory prior to purchase. - Work with appropriate parties to clear any outstanding conditions prior to loan purchase. - Facilitate and task internal QC for closing loan compliance review. - Review signed loan documents for compliance with federal, state, and local law and company policies and procedures. - Review and approve CD settlement statement from closing agent. - Verify and prepare wire transfer instructions. - Verify loan amount, all fees, rates, discount points, broker rebates, and other loan amounts. - Review signed loan documents for correct signatures, notary information, title reports, and escrow instructions. - Prepare and retrieve approved purchase advice for Correspondent sellers. - Input loan information into the loan system(s). - Follow up with any post-closing issues that may arise. - Maintain a thorough working knowledge of Company and regulatory changes that affect the closing process. - Resolve loan purchase discrepancies with the Accounting Department and Shipping Department. - Assist departmental sales partners, support staff, and management when necessary. - Perform other related duties as assigned. Qualifications - Knowledge of mortgage industry and loan documents. - Knowledge of RESPA, TILA, MDIA requirements. - Demonstrate thorough knowledge of all aspects of mortgage loan closing. - Knowledge of underwriting procedures, creditor financial analysis techniques, investor requirements, and escrow/title practices. - Required to be on camera for all team and colleague interactions. - Superior customer service skills, responsive to client issues and concerns. - Extremely high level of organizational skills and ability to work on several tasks simultaneously. - Strong mathematical, verbal & written communication skills. - Strong computer skills (i.e., Microsoft Office suite; Word, Excel, Outlook, etc.). - Ability to communicate effectively both verbally and in writing. - Ability to organize and prioritize workload and meet deadlines. - Must be a team player and work constructively with fellow employees, sales partners, and management team. Requirements - High School graduate or equivalent. - Three (3) to five (5) years purchasing closed Correspondent and/or Funding experience. - Knowledge of TRID, RESPA, TILA, and Compliance document review experience. - Computer literate with experience using Microsoft Applications (Word, Excel) with mortgage industry standard. - Ability to compile and analyze data. - Experience working in a paperless environment. - Knowledge of DocMagic and other document vendors experience a plus. - Document drawing experience a plus. Benefits - Medical, dental, vision, wellness programs. - EAP counseling services. - FSA & HSA. - Company sponsored life insurance for employee. - Voluntary life insurance for employee, spouse, and child. - AD&D Insurance. - Voluntary short-term and long-term disability. - Critical illness insurance. - Accident insurance. - Legal assistance. - Pet insurance. - Living will and trust preparation discounts. - Commuter program. - Annual walking challenge. - Employee appreciation events and monthly sales awards.

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