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A Loan Production Analyst's main responsibility is to submit a complete and thorough loan to the Underwriter while ensuring the loan meets appropriate underwriting and compliance guidelines. Their main objective is to present a clear/concise loan submission to the Underwriter with six or less conditions.
LPAs at Mutual of Omaha Mortgage will provide borrowers and Loan Originators with real time updates to the status of the loan, along with requests for supplemental loan documentation. An LPA will interact frequently with external and internal parties and will take a loan application from the Mortgage Coordinator and review and submit a clean mortgage file to the Underwriter for approval. Lastly, an LPA is highly knowledgeable to current investor guidelines (FNMA, FHLMC and GNMA), along with TRID and all other federal guidelines, rules, and regulations related to residential mortgage loans.
This position is an in office position, in Seven Hills, OH.
Responsibilities:
- Confirms loan meets program guidelines and contains necessary documentation so underwriting can issue a loan approval with 4 conditions or less.
- Ensure all intro calls made to clients within 24 hours of receiving the file.
- Completes thorough review of income and completes income calculation worksheet so underwriting can see how the loan was qualified
- Verifies assets based on loan structure/type and AUS recommendations
- Retrieves all MC 3rd party orders and assigns them accurately in e-folder.
- Reviews All Title Documents to Ensure Correct Vesting, Lien Removal
- Orders/obtains condo warranty docs and subordination requirements when applicable
- Reviews critical signed disclosures to ensure compliance.
- Submits acceptable loan file to underwriting; including all necessary documentation and identifies any special/abnormal circumstances for underwriter.
- Contact borrowers for any missing/required information.
Prioritization/Daily Structure:
- Pull pipeline report prior to opening email and create priority list for the day.
- Review email
- Follow up with outstanding stips/necessities to get loans already reviewed into underwriting.
- Review all new loans within 24 hours.
- Submit loans to underwriting prioritized in the following manner:
1. Purchases
2. Locked and appraisal in or locked and no appraisal needed
3. Locked and appraisal due
4. Appraisal in and not locked
5. Appraisal not in and not locked
Qualifications:
- 3+ years mortgage loan processing; including VA/FHA loan processing
- Current and up-to-date with today's lending guidelines
- Highly knowledgeable in FNMA, FHLMC, VA, and FHA loan products
- Ability to calculate income without the use of spreadsheets---Ability to Manually Calculate All Income Sources (W2,SSI,Pension,Rental,Self Employment)
- Ability to manage pipeline of 30+ loans
- Experience using Encompass
- Must Be Detailed Oriented, Focused, Can Create Urgency, & Has Critical Problem Solving Skills
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