Real Estate Lending Associate

Responsible for performing a variety of duties to support the loan servicing function in order to ensure the efficient and accurate servicing of mortgage loan accounts.

• Maintains all paper and electronic files by accurately processing all loan origination components and documentation; Prints and disburses all online applications; Prints conditions and handles as appropriate.
• Process payments for application and appraisal fees.
• Review new loan documentation, including the Loan Estimate, received at origination to ensure accuracy and compliance; Identify origination errors for tracking; Mail required disclosures to clients.
• Gathers, analyzes, and verifies all documentation required to properly support the loan request; Compares verifications against original loan application for consistency and contacts clients to obtain additional information as needed.
• Updates loan origination system as information is gathered and verified.
• Analyzes credit reports and income, calculates ratios, and verifies assets to determine continuation or declination of application.
• Addresses all inconsistencies with loan officer and client, if appropriate; Consults with proper sources to resolve questions.
• Calendars files for follow-up on commitment, deadlines, conditions to be cleared, etc.
• Develops and maintains relationships with appraisers and monitors turnaround time of appraisals; Orders appraisals; Prints, inputs into the loan origination system, and uploads appraisals to Director.
• Prepares a variety of letters and other correspondence; Mails required disclosures to clients.
• Applies knowledge of portfolio and investor underwriting policies and procedures to ensure that consistent standards have been applied to all loans.
• Ensures that all regulations have been adhered to prior to and during the processing and closing process.
• Lock rates with SONYMA and Freddie Mac.
• Prepares mortgage commitment letters incorporating the terms and conditions as determined by the underwriter; Forwards appropriate documents to the settlement agent and follows-up to ensure deadlines are met on commitment expirations, rate locks, and closing dates.
• Delivers required pre-closing documents to SONYMA and to the PMI company for approval.
• Reviews legal documents prior to closing as follows: Verifies that conditions to close have been met and confers with attorneys as necessary; Acts as intermediary for title problems, boundary line issues, or other legal issues that surface; Informs management of pending situations that may halt or stall closing.
• When the file is clear to close, prepares preliminary Closing Disclosures and mails to client; Notify attorney that the loan is clear to close; Schedules loan closings and gathers appropriate paperwork from settlement agent to prepare all closing documentation; Prepares all closing documents and reviews for accuracy; Orders title work to be done.
• Computes initial aggregate escrow.
• Process all closing documents received from settlement agent after closing; Email Lereta; Disburse fees; Conduct a post-closing loan review; Prepares post-closing documentation as required for secondary market investors.
• Prepares loan disbursement checks, various general ledger entries, and new loan data entry sheets.
• Requests appraisal inspections and title updates on construction loans; Receives invoices for work completed or materials purchased and issues checks or transfers mortgage funds for construction mortgages or home improvements for which funds are held in escrow; Prepares construction loan to go final.
• Assists in making decisions on problem contracts and with other personnel with problems that arise as warranted.
• Maintains activity logs and complies information as directed to generate and prepare monthly reports; Provides monthly data to outside originators.
• Conforms to General Performance Expectations as identified for all employees.

Qualifications/Requirements

• Associates degree in business preferred; Specialized lending education and training
• Minimum of 5 years experience in related position with a minimum of 2 in Mortgage processing normally required; Lending experience preferred
• Proficient interpersonal skills in dealing with clients and all levels of management
• Demonstrated proficiency in Microsoft Word and Excel

Chemung Canal Trust Company/Capital Bank fosters a diverse and inclusive culture where employees are able to succeed to their full potential. EEO/AA Including Veterans and Disabled