[Hiring] Correspondent Purchaser @Acra Lending

Role Description

We are looking for candidates to join our team who are passionate about their vocation, committed to making a contribution, and are looking to gain experience in order to grow in their career.

Summary:

• Assist in managing correspondent client (“Seller”) relationships.
• Analyze and compile data related to seller loan purchasing transactions with Acra Lending.
• Responsible for purchasing closed loans in a timely manner in accordance with company and investor requirements.
• Perform all duties in accordance with the company’s policies and procedures, all US state and federal laws and regulations.

Essential Duties and Responsibilities:

• Consistently complete/audit files review conditions and verifies loan closing package for accuracy and completeness.
• Receive and review any outstanding purchasing conditions prior to purchase.
• Complete a closed loan review to ensure documents were executed correctly.
• Ensure all prior to purchase conditions have been met and set file up for purchasing.
• Ensure all required documentation for Collateral Package is satisfactory prior to purchase.
• Work with appropriate parties to clear any outstanding conditions prior to loan purchase.
• Facilitate and task internal QC for closing loan compliance review.
• Review signed loan documents for compliance with federal, state, and local law and company policies and procedures.
• Review and approve CD settlement statement from closing agent.
• Verify and prepare wire transfer instructions.
• Verify loan amount, all fees, rates, discount points, broker rebates, and other loan amounts.
• Review signed loan documents for correct signatures, notary information, title reports, and escrow instructions.
• Prepare and retrieve approved purchase advice for Correspondent sellers.
• Input loan information into the loan system(s).
• Follow up with any post-closing issues that may arise.
• Maintain a thorough working knowledge of Company and regulatory changes that affect the closing process.
• Resolve loan purchase discrepancies with the Accounting Department and Shipping Department.
• Assist departmental sales partners, support staff, and management when necessary.
• Perform other related duties as assigned.

Qualifications

• Knowledge of mortgage industry and loan documents.
• Knowledge of RESPA, TILA, MDIA requirements.
• Demonstrate thorough knowledge of all aspects of mortgage loan closing.
• Knowledge of underwriting procedures, creditor financial analysis techniques, investor requirements, and escrow/title practices.
• Required to be on camera for all team and colleague interactions.
• Superior customer service skills, responsive to client issues and concerns.
• Extremely high level of organizational skills and ability to work on several tasks simultaneously.
• Strong mathematical, verbal & written communication skills.
• Strong computer skills (i.e., Microsoft Office suite; Word, Excel, Outlook, etc.).
• Ability to communicate effectively both verbally and in writing.
• Ability to organize and prioritize workload and meet deadlines.
• Must be a team player and work constructively with fellow employees, sales partners, and management team.

Requirements

• High School graduate or equivalent.
• Three (3) to five (5) years purchasing closed Correspondent and/or Funding experience.
• Knowledge of TRID, RESPA, TILA, and Compliance document review experience.
• Computer literate with experience using Microsoft Applications (Word, Excel) with mortgage industry standard.
• Ability to compile and analyze data.
• Experience working in a paperless environment.
• Knowledge of DocMagic and other document vendors experience a plus.
• Document drawing experience a plus.

Benefits

• Medical, dental, vision, wellness programs.
• EAP counseling services.
• FSA & HSA.
• Company sponsored life insurance for employee.
• Voluntary life insurance for employee, spouse, and child.
• AD&D Insurance.
• Voluntary short-term and long-term disability.
• Critical illness insurance.
• Accident insurance.
• Legal assistance.
• Pet insurance.
• Living will and trust preparation discounts.
• Commuter program.
• Annual walking challenge.
• Employee appreciation events and monthly sales awards.