Third Coast Bank ssb
Construction Loan Processor
The Construction Loan Processor is responsible for overseeing the file flow from beginning to end ensuring all necessary documentation is obtained for underwriting. Exceptional customer service is needed to obtain and verify the necessary documentation for underwriting and be able to communicate directly with builders, customers and staff to obtain final loan approval.
The Construction Loan Processor will work with the mortgage department from initial submission to completion of the construction loan while ensuring all industry and regulatory standards are met. Works directly with underwriting on obtaining verifications, communications, and the gathering of all documentation for the loan process.
The Construction Loan Processor must have knowledge of Fannie and Freddie loan products, a comprehensive understanding of residential loan application and compliance and regulatory requirements. Must be able to review AUS results, income documentation, financial statements, and income & credit documentation.
Must have excellent organizational skills and attention to detail, along with the ability to communicate effectively with customers and staff both verbally and in writing.
Essential Duties and Responsibilities:
Communicate with various companies to obtain vendor information including, but not limited to, verification of employment, flood certificate, title commitment, and payoff information. Verify vendor orders are completed and returned, and invoices are received and documented.
Develop and maintain successful relationships with all referral sources.
Request and monitor the receipt of all contracts, plans, bids and all other documentation that may be required.
Order inspections of home sites for all loan draws.
Reviews all construction plans and contractors to ensure they meet all guidelines.
Monitor loans to ensure complete conformity with loan terms.
Meet with Mortgage Loan Officer and customers, as necessary during various stages of the loan process.
Obtain complete loan packages, with all required supporting documentation for underwriting.
Monitors that all documentation is received during the construction period and updates documents as required.
Prepares and compiles documents for Underwriters for review.
Takes necessary follow-up actions to assure receipt of use and occupancy certificate, title insurance policy and assure the bank obtains original fire and flood insurance policy.
Prepares summary for missing documentation before submitting to underwriting. Responsible to hand over a completely documented file to the underwriter which is ready for approval or denial.
When requested, directly communicate with customer in writing and by telephone to obtain missing documentation required for the loan.
Review loans for compliance within RESPA, TIL, HMDA, Reg. B, etc. (all mortgage related regulations).
Ability to prepare proper disclosures and re-disclosures as required by regulations.
Complete required loan submission, re-submission, and closing checklists.
Performs such other duties as required.
Banking experience preferred.
3-5 years residential mortgage processing experience with renovation and/or new construction lending.
Knowledge of RESPA guidelines, general knowledge of all mortgage and consumer lending regulations (Regulation Z and Regulation B requirements) and loan documents.
Previous experience with Encompass.
Current knowledge of industry guidelines and procedures as well as federal, state and local regulations.
Computer Knowledge (DU, LP, Microsoft Outlook & Windows).
Good communication skills and ability to work in a group setting.
Must have the ability to multi-task and handle multiple assignments.
Ability to prioritize and meet deadlines.
Available to work varying hours and overtime if needed.