Mortgage Investor Delivery Associate

Minnetonka, Minnesota
Join our team!
Jun 26, 2020
Job Type
Full Time
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:

  • 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.

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