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Mortgage Investor Delivery Associate

Employer
Alerus Financial
Location
Minnetonka, Minnesota
Salary
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Job Details

Position Summary:

The primary responsibilities of this position are to manage delivery of files to investor and provide support for the closing division through coordination of loan closings.

Essential Responsibilities:

Job Function Number 1: Investor Delivery - 50%
  • Serve as the primary role for delivery of Alerus closed loan packages to our investors.
  • Assist with management of the files distributed to the multiple investors to make sure we meet all required timelines.
  • Maintain full understanding and knowledge of the multiple investor guidelines, products and websites.
  • Deliver loans to each investor as required per their guidelines and service delivery standards.
  • Utilize a paperless delivery process where available and provide ongoing feedback to leadership on opportunities to further streamline our process.
  • Upload necessary final loan documents into the Alerus loan origination system.
  • Retrieve and upload electronic files as needed for monthly audits.

Job Function Number 2: Provide loan closing and process support to meet all required deadlines - 30%
  • Organize and prioritize files for closing package preparation.
  • Schedule loan closing detail in conjunction with title company instructions.
  • Manage the distribution of files to Closers as they are received.
  • Prepare FHA insurance worksheet required by the OCC audit for record comparison.
  • Ensure all required loans are registered with MERS, and monitor reports.
  • Set up TOS/TOB for at the time the Investors purchase the loan.
  • Conduct an initial post-close file review as well as a final mandatory delivery review once the investor has been selected.
  • Verify that all required documents are included in the final loan package delivered to the investor.

Job Function Number 3: Post Close Follow Up - 20%
  • Transfer homeowners insurance and mortgage insurance as
  • Process insuring/guarantee of loans (FHA/VA) on web
  • Work with investors to satisfy any investor pends in a timely manner to maintain outstanding score card results with all investors and avoid any penalties.
  • Provide necessary updates on outstanding documents to investors, maintaining strong and ongoing communication as necessary.
  • Resolve pends individually, involving other Alerus team members when necessary.
  • Notify the Mortgage Banker/Assistants each month for specific loans in which Alerus must take first payment due to investor delay in set up.
  • Manage work completion escrows: sending out notices, ordering inspections and disbursing funds when completed.

Position Requirements:

Qualifications:
  • High school diploma & 2 years of mortgage experience required or equivalent combination of experience and education.
  • Knowledge of Encompass, MERS and other technology required for the role.
  • Knowledgeable and experienced working with Microsoft Office suite products (Word, Excel, & Outlook).
  • Knowledge of investor guidelines preferred.
  • Proven ability to manage multiple responsibilities and meet deadlines.
  • Demonstrated ability to work in a fast paced industry.

Personal Characteristics:
  • Excellent verbal/nonverbal communication skills.
  • Ability to multi-task and prioritize work flow.
  • Attention to detail.
  • Self-sufficient and supportive team member.
  • Flexible, dependable.

Physical Demands: (must be met with or without a reasonable accommodation)
  • Extended periods of time sitting at a desk and using office equipment.
  • Ability to operate a personal computer/laptop for approximately 8 hours per day.
  • Extended time is spent reviewing physical and electronic documents.
  • The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
  • Periodically, may also do light lifting of supplies and materials which weighs in at approximately 25 lbs.
  • Will spend most of time in an indoor environment.

Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

Company

Alerus is a company that will challenge you to be at your best and where your efforts have real, tangible effects. Our culture is one of collaboration, innovation, forward-thinking, and giving back. And, as a growing company with a presence in markets from New Hampshire to Arizona, we offer a broad range of opportunities for you to travel the career path that matches your abilities, interests, and goals.

What is the current company culture like?

While our footprint spans North Dakota, Minnesota, Arizona, New Hampshire, and Michigan, we still operate like a small company. In other words, every single person on our team matters. Our employees create our culture.

What skills, education, and experiences does your ideal candidate(s) have? Each position has their own specific requirements and qualifications. In addition to those, Alerus seeks people who live out our fundamental beliefs every day: do the right thing, cherish people, empower with knowledge, respect everyone, serve with passion, and embrace change.

How would you describe the company leadership/team management? Alerus has a diverse executive and leadership team. Each leader comes with a wealth of experience and knowledge within their field to help their teams succeed. Alerus leaders, including our C*Suite executives, maintain regular communication with employees on company updates and goals.

Where do you see the company/organization in the upcoming years? Alerus has bank and office locations in North Dakota, Minnesota, Michigan, New Hampshire and Arizona. While we continue to serve our clients in these states we also look to grow our national footprint to best serve clients wherever they may live.

What do you feel candidates need to know about the company before applying? Alerus is more than just a bank and offers many products for our clients including personal & business banking, mortgages, wealth management and retirement savings. We continue to grow and expand but still maintain and operate with a small business feel. We would not have continued success without our employees and all the hard work they do to serve our clients with passion.

See the current Alerus job openings below!

Company info
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