HomeStreet Bank Loan Processor III in Elk Grove, California
EO/AA Employer including Vets and Disabled
Qualified applicants with arrest and conviction records will be considered in accordance with legal requirements.
Job Description Summary
Ensure that assigned loan applications are processed and prepared for funding in a timely manner and meet all HomeStreet and regulatory requirements. Accurately and completely document each file. Continually demonstrate superior Partnership and excellent customer service. Operate a variety of office equipment and software programs. Take full responsibility to independently perform all job functions to company standards. This is a senior level position.
Review all loan files upon receipt to meet current Service Level Agreements as defined by HomeStreet. Effectively manage pipeline and prioritization. Verify Automated Underwriting (AUS) accuracy, file set-up and order out, and status of all outstanding conditions. Verify that the loan fits the requirements of HomeStreet loan programs. Communicate review to originating Loan Officer and to Management as required.
Obtain title, credit reports, appraisal reports, hazard insurance binders, fraudguard reports, verification of employment, IRS transcripts, and flood determination reports, as required. Review immediately upon receipt to ensure that they meet all HomeStreet and regulatory requirements. Communicate receipt of documents and your review to the originating Loan Officer. Work to clarify and/or correct all problems or errors. Order all subsequent updates and or final reports as required.
Work directly with the Loan Officer to secure all required documentation or information necessary from our customers. Review all documents received from Loan Officer and/or customer to ensure that they meet HomeStreet and program requirements.
Update DU and/or Underwriting as required during the processing of the loan as new information is secured or as information changes. Communicate any changes in DU requirements resulting from any update immediately to the originating Loan Officer.
Prepare all loan files for delivery to Funding within a timeframe that will allow the loan to close according to customer expectations. Ensure the following on all files:
All loan information is correct, fully documented, and accurately entered into AUS and Loan Origination Software (LOS).
All AUS, 1003 and Underwriting Transmittal data entry is complete, accurate and matches. All AUS and/or underwriting conditions have been satisfied and signed off.
All fees designated by the Loan Officer have been correctly detailed.
All regulations and timing requirements for TRID have been followed.
All regulation and timing requirements for HVCC have been followed.
All regulation and timing requirements for ECOA have been followed.
Any origination or processing forms that need signatures have been pulled and detailed for closing.
Funding instructions are fully prepared.
All title, appraisal or flood issues or requirements have been resolved.
All others tasks to ensure a file is complete, accurate and ready for funding.
Assume full responsibility for file accuracy and timeliness of delivery to QA and Funding.
Assist the Loan Officers in monitoring of lock expirations and lock management. Communicate as necessary to ensure no locks inadvertently expire.
Provide a written file review weekly to each assigned LO. Include information regarding current status, outstanding conditions and anticipated closing date of each loan in process. Maintain regular weekly partnership meetings with Production partners to discuss loan status and complete a pipeline review.
Maintain excellent communication between customers, Loan Officers, Underwriters, Funders, and all other parties involved in each loan transaction. Provide a superior level of customer service to all parties.
Demonstrate exemplary Partnership with all co-workers. Help to create a positive team environment. Work to minimize any negative situations or interpersonal conflicts.
Assist other Processors with more technical loans and detailed regulatory questions.
Assist in implementation of change, including the planning, introduction, and evolution of new systems or procedures.
Forward all withdrawn and denied loans within the timeframes and guidelines as established by HomeStreet Bank.
Immediately follow up on all post-funding conditions, exceptions or requirements. Communicate any delays in completing these items to management.
Maintain at least a 90% internal audit accuracy level.
Refer all HomeStreet products and services at every opportunity.
Understand and maintain a thorough knowledge of HomeStreet’s operations and organization, communicating this understanding to others when appropriate and referring inquiries and correspondence to the proper department or individual. Be familiar with all HomeStreet permanent loan programs and other products.
Continue personal educational development.
All other duties as assigned by the Branch Operations Manager.
Minimum of 3 years experience in processing loans and/or the demonstrated ability to handle all loan types, including Conventional, FHA, VA, Brokered, Rehabs, One-Steps, Streamline and Rollover Refinances, etc.
Be knowledgeable about all HomeStreet conventional, government and portfolio 1st and 2nd mortgage loan programs. Understand secondary market regulations and guidelines.
Be familiar with all HomeStreet products, including banking services, insurance, construction, etc.
Understand income calculations and have the ability to accurately analyze all income scenarios, including complicated self-employed income.
The ability and willingness to mentor new Processors or other co-workers.
An understanding of the funding function and the ability to assist in that area.
Ability and willingness to work all hours required by this job.
Excellent communications skills - phone, personal contact and written.
Must work ethically and practice sound fiduciary responsibility at all times.
Excellent keyboarding and computer skills. Requires the ability to learn and work with complex software applications.
Detailed knowledge of the mortgage industry.
Ability to work independently, set priorities and handle multiple tasks.
Must be dependable in completing tasks with strong attention to detail and accuracy.
Must exercise excellent judgment, accept responsibility and handle confidential information.
Excellent at problem solving, researching and decision-making.
Model Partnership skills.
Able to work as part of a team and with people of diverse backgrounds.
Neat and professional appearance.
Willingness to assume additional duties/projects as required.
Willingness to embrace change and the desire to help facilitate it.
Able to manage stress.
This Position Description may not be limited to the Functions and Requirements as outlined, now or in the future. For example, changes in corporate needs, position demands, or individual performance may result in changes to the Functions or Requirements of this position.
Residential (Sales), SFL Processor
Who We Are
Founded in 1921, HomeStreet Bank offers consumer and business banking, mortgage financing, commercial lending, investment and insurance products and services in the Pacific Northwest, California and Hawaii. We maintain a shared goal across teams and regions to be the trusted and preferred source of financial services for our clients.
Our drive to achieve this goal begins with trust – in our own abilities and in those who we work with each day. At HomeStreet, we respect and empower our employees to make decisions that support innovation, and deliver results for customers. Employees collaborate across teams to make the right decisions, share knowledge, continually move forwards and grow.
We believe in promoting from within to deliver the strongest base of company knowledge, shared experience. And understanding about how our company has grown and evolved since its founding in 1921. Our teams reflect motivation, caring and a drive to achieve while having fun and supporting the communities where we live and work. This is how we deliver value every day.
As a rapidly expanding company, HomeStreet offers many opportunities to learn and grow. Throughout a period of dramatic growth, we have preserved the tradition of working in cross-functional project teams and promoting advancement across the company. Whether your interest lies in the banking or lending aspects of our business, if you have a desire to learn, are enthusiastic, perform quality work and have a passion for customer service, you will thrive in this fast paced and fun environment where people respect and help each other.
Diversity and Inclusion
HomeStreet is committed to a diverse workplace with employees from a wide range of backgrounds. We recognize that a more diverse workforce translates to broader perspective and greater understanding, which in turn translates to a greater capacity for customer service. We focus on recruiting and retaining employees from different backgrounds and who are representative of the people in our communities. By doing so, we are better able to serve our customers and understand their financial services needs and goals.
Equal Employment Opportunity
Equal employment opportunity is a fundamental HomeStreet belief. We practice fair and equal treatment for everyone, regardless of race, color, national origin, ancestry, religion, creed, political ideology, gender, marital status, sexual orientation, age, or the presence, history or perception of having any sensory, mental or physical disability, genetic information, or protected veteran status. In addition, we ensure compliance with federal, state and local laws governing nondiscrimination in employment. This philosophy applies to all terms and conditions of employment, including hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.
Employing Individuals with Disabilities
HomeStreet embraces the American with Disabilities Act (ADA) and applicable state and local laws providing for nondiscrimination in employment against qualified individuals with disabilities. If you have any difficulty using our online system and you need an accommodation due to a disability, you may use the alternative email address below to contact us about your interest in employment with HomeStreet Bank: Recruiting@homestreet.com.
Come Grow With Us
For more than 90 years, HomeStreet Bank has maintained a strong commitment to ethics, customer service and support of our communities. Building trust with our customers and employees is at the core of everything we do, and we’re looking for talented and motivated people to join us as we grow and evolve as a company.
We are an equal opportunity employer with a commitment to employee development. We continually aim to build and maintain a successful team of talented people who feel challenged to do their best every day. We hire for potential, support personal development, and whenever possible, promote from within.
We offer competitive salaries, benefits, and incentives with the opportunity to give back to the community. Whether you’re just beginning your career in financial services, or have years of experience, we have a wide range of job opportunities for you to consider.