Santa Clara, CA
Contract: 6+ months
Pay: $23 - $26 per hour
Summary: The Mortgage Operations Analyst will report to the Sr. Manager of Mortgage Operations. The Mortgage Operations Analyst will review mortgage loan files and complete various tasks at several stages in the mortgage loan origination process to ensure that proper processes are being followed in adherence to regulatory requirements.
The Mortgage Operations Analyst role
Prepares timely and accurate disclosures or closing documents on First Mortgages and HELOC loans from application to post-closing that comply with company policy and federal and state regulatory guidelines as well as highly regulated timeframes. This includes generating Federal, State-Specific and SVB specific disclosures and closing documents during various phases of loan process including Initial Disclosure; Approval; Closing; Funding, and Post Closing.
Due to the fast paced nature of the regulatory and business environments, the individual must have the ability to quickly adapt to change and multi-task various assignments.
Mortgage Operations Analysts typically have one identified primary role and are trained to provide back up coverage for a minimum of one additional function from the below areas of production:
Initial Disclosure/Appraisal Desk:
- Orders all required services and documentation (ie: appraisal, prelim, fees, flood cert)
- Generates and reviews documentation for accuracy before sending all upfront disclosing packages within required regulatory timelines.
- Sends Appraisals to clients to meet regulatory deadlines
- Manages modifications to information/Processes CICs
- Processes the file by ordering items needed for closing (ie: payoffs, insurance, fees)
- Generates NOLA with State Specific Approval disclosures
- Manages pipeline to ensure all items are ordered timely to meet established closing dates or rate lock expirations
- Ensures all conditions are received prior to Clear to Close
- Reviews and updates all necessary fields in the system to generate the CD/Closing Documents.
- Prepares and review closing documents for accuracy prior to sending to clients and closing agents.
- Reviews signed Closing documents for accuracy prior to funding.
- Confirms all conditions are met prior to funding
- Communicates with Escrow to coordinate timing of funds needed for closing
- Generates and reviews funding figures for accuracy before requesting funds
- Initiates ticket for wire to fund the loans and confirms funds are received
- Confirms Recording information with closing agents
- Generates final Post-Consummate Closing Disclosure based on regulatory deadlines and reviews information for accuracy
Responsible for ensuring final title Policies and recorded Deeds of Trust/Mortgages are received timely