Loan Specialist
Location: St. Louis, Missouri
Description: Lutheran Church Extension Fund is looking of Loan Specialist right now, this job will be depute in Missouri. For detail informations about this job opportunity kindly see the descriptions. Organization Profile
The primary mission of the LCEF is to provide financial resources and related services for ministry, witness, and outreach of The Lutheran Church--Missouri Synod. In so doing it shall ! raise funds primarily through the issuance of notes and other debt instruments. Its assets shall be used exclusively for the following: To provide financing and services for the acquisition of sites; the construction of facilities; the purchase of buildings and equipment; operating expenses; professional church worker education; the residential housing needs of professional church workers; and other purposes approved by its governing board consistent with the ministry and mission of the Synod under policies approved by the Board of Directors of Synod.
Reporting Relationships
Reports directly to Manager- Rostered Church Worker Loans
Communicates with RCW staff, borrowers, real estate agents, credit bureau companies, title companies, appraisers and
other third party vendors.
Essential Job Functions
Performs all aspects of real estate mortgage loan origination and direct consumer lending to Rostered Church Workers in accordance with LCEF ! loan policy and guidelines. Responsible for underwriting and e! valuating credit requests from new and existing clientele. Underwriting will include financial and credit risk analysis with a concentration on debt service, collateral evaluation and identification of key risks and mitigants.
Responsible for entry, assembly, maintenance and verification of loan information on all origination systems in his\her inventory.
Analyze applicants' credit bureau, income, down payment funds, assets, and other compensating factors to complete an initial manual underwriting of the loan application assessing the potential risk to LCEF, forming a decision, and then relaying the decision to the applicant.
Prepare written loan recommendations for approval per LCEF policy or the RCW loan committee.
Assists with the initiation, preparation, review and documentation proof of sending of, all required state and federal regulatory initial disclosures within the defined time frame as designated by law.
Initiate and respond to written and tel! ephone inquiries from borrowers, Realtors, Attorneys, Title Companies,and appraisers with regard to processing of the loan applications.
Review Title Insurance Commitments for loans in his\her inventory to determine all requirements that must be met, the exceptions that must be deleted, and the endorsements needed to secure a valid first lien position and an acceptable final lender's title insurance policy for LCEF.
Document and complete the cash flow of all applicant's income using acceptable document sources to form a correct income figure and compare against underwriting guideline sheet.
Obtain and review Flood Certification to determine the necessary amount of flood insurance needed, if any.
Prepare Housing, Home Equity and Unsecured loan application packages according to policy and procedures for review, securing and assembling all required documents.
Issue Commitment Letters on loans in inventory.
Initiate and authorize payment via check reques! t or wire transfer for loan disbursements.
Prepare adverse action l! etters including all compliant information within time frame as designated by Regulation B .
Track all counteroffers and denials on the loan origination systems.
Attend required continuing education seminars annually and pass regulatory tests to ensure LCEF retains their lending licenses in certain states.
Prepare the necessary closing documents ensuring each state's regulatory laws are followed.
Assists in the development, writing and updating of RCW procedures as new procedures and policies are necessary.
Comply with revisions made from time to time, after mutual consultation, in this position description.
Education and Experience
Two years college or equivalent.
Experience may be accepted in lieu of educational requirement provided the applicant has not less than 4 years of progressive experience.
Requires a minimum of two recent years of mortgage loan experience.
Knowledge, Skills and Abilities
Extensive knowled! ge and experience with lending policies and practices, secondary market mortgage products and acceptable loan documentation, processing, underwriting requirements, closing and compliance regulation.
High degree of organizational skills and great attention to detail.
Exceptional verbal and written communication skills.
Has passed the National Secure and Fair Enforcement (SAFE) Act examination.
Desirable
Knowledge of the Encompass 360 Loan Origination software system.
- .
If you were eligible to this job, please deliver us your resume, with salary requirements and a resume to Lutheran Church Extension Fund.
Interested on this job, just click on the Apply button, you will be redirected to the official website
This job starts available on: Sat, 20 Jul 2013 09:53:00 GMT