Location: Manteno, Illinois
Wage/Salary: $16.25 - $19.90/hourly
Hours: 40 hours per week, Monday through Friday. (No fixed schedule, the hours vary upon bank needs.)
To apply: Visit the employment section of our website at: www.homestarbank.com to fill out our online application.
Responsible for processing / underwriting and evaluating all credit and Secondary Market loan applications in order to maximize company profits and minimize risk or loss. Typing closing of loans through activities such as processing loan documentation by verifying the accuracy of completion.
The listings below are intended to describe the general content of basic requirements of this job. It is not intended as an all-inclusive description of duties, responsibilities or requirements.
Principal Duties and Responsibilities:
1. Process applications
-Enter application into Loan Origination System
-Pull credit reports
2. Process new starts
-Prepare and mail early disclosures
-Prepare and send Commitment/Approval letters
-Order appraisals, title work, flood determination, etc
-Prepare and mail Letter of Understanding
- Prepare and send commitment / approval letter
3. Underwrite files
-Review title work
-Review purchase contracts
-Review homeowners / flood insurance
-Reconcile debt from credit report – update loan system
-Analyze self-employed income
-Calculate qualifying income – update loan system
-Verify funds for closing-gift money, liquid assets, sale of property, etc.
-Determine if loan is a HOEPA loan
-Determine if PMI is needed
4. Determine if additional documentation is needed to complete the loan file and keep in compliance with Secondary Market requirements.
5. Update & Maintain tracking system for each loan file.
6. Communicate with Loan Officers regarding particulars of loan files
7. Determine when a file is ready for the Loan Officer to schedule closing
8. Write-up closing instructions
9. Type Closings from other Underwriters / Loan Officers
10. Maintain LIP filing
11. Process payoffs
12. Prepare and scan annual adverse action files / withdrawn files
13. Prepare mortgage modifications
14. Prepare extensions
15. Process construction draws
16. Disburse closing packages
17. Achieve annual referral expectations for the Bank
18. Other duties as assigned
Education and Experience Requirements:
1. Minimum 1 year experience underwriting non-secondary market loans preferred.
2. High School education required.
Skills and Abilities:
1. Functionality and operation of Microsoft Windows, Word and Excel
2. Knowledge of ITI system
4. Team player
5. Ability to provide exceptional customer service and ensure others do the same
6. Excellent communication skills, both verbal and written
1. Computer use up to 7 hours a day
2. Lifting of weights up to 20lbs
HomeStar is an Equal Opportunity/Affirmative Action Employer, Minority/Female/Disabled/Veteran.