Residential Mortgage Job Description
Residential mortgage
provides general mortgage expertise to Residential Lending Management, Mortgage Loan Services, and other State Farm departments.
Residential Mortgage Duties & Responsibilities
To write an effective residential mortgage job description, begin by listing detailed duties, responsibilities and expectations. We have included residential mortgage job description templates that you can modify and use.
Sample responsibilities for this position include:
Trade confirmation document
Mortgage Loan Purchase Agreement
Servicing and Interim Servicing Agreements
Custody Agreements
Bailment Agreements
Due diligence vendor agreements
Other vendor agreements as necessary
Repurchase/make whole letters
Early Payment Default and Premium Recapture Requests
Other items as necessary
Residential Mortgage Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Residential Mortgage
List any licenses or certifications required by the position: USPS, VHDA, DE, LAPP, VA
Education for Residential Mortgage
Typically a job would require a certain level of education.
Employers hiring for the residential mortgage job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Associate Degree in Education, Business, Finance, Accounting, Associates, Technical, Construction, Legal, Communication, Economics
Skills for Residential Mortgage
Desired skills for residential mortgage include:
Excel and Outlook
Underwriting
Closing procedures
Conventional and government lending guidelines residential mortgage processing
Microsoft Word
Ability to learn and operate department/bank specific loan origination software
Bank external marketing programs
Bank mortgage products
Competitor innovations
Mortgage related products
Desired experience for residential mortgage includes:
Securitization related coordination
Working with the residential structured finance and trading desks to ensure securitization related requirements are considered in the loan acquisition process
Negotiation of form documentation related to securitization (ie Assignment and Assumption Agreements)
Various other contract finance related activities related to the acquisition, sale and management of residential whole loans
Make credit decisions by following all policies, procedures and guidelines set forth by the company
Validate resolution plans to ensure they adequately address the root cause of identified issues found in the Residential Mortgage Default Management (RMDM) business line
Residential Mortgage Examples
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Residential Mortgage Job Description
Job Description Example
Our innovative and growing company is hiring for a residential mortgage. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for residential mortgage
- Enhance and develop analytics, reporting and tools to support banking lending line of business product managers’ efforts to define and reach their targets
- Work with strategic partners to identify financial performance measurement objectives and develop annual plans with a focus on the banking lending line of business
- Review and interpret information presented
- Establish strong relationships with business partners (ie
- Responsible for evaluating portfolio, exception and complex mortgage loans n accordance with all Bank, Investor, Agency, and regulatory compliance guidelines
- Help coordinate and tracking of candidates in recruiting process, on-boarding new hires, processes new employees, transfers, termination
- Provides administrative support in a fast paced team environment to the head of RMD in Bengaluru and the team
- Maintains calendars and prioritizes meeting requests and related logistics
- Assist and coordinates submission and ensure payment of department invoices and reporting and validation of expense
- Assist on departmental training programs, maintain and creating departmental sharepoint sites as needed
Qualifications for residential mortgage
- Manage TFS repository for test case management, defect management, test reporting, and other functions
- Strong communication skills (verbal and written, email, presentations)
- 5+ years of experiences with continuous integration tools such as TFS, MKS, Jira
- Prior technical experience a plus
- Minimum five years of supervisory or operational experience
- 10+ years of relevant residential, commercial, collections and workout, lending, and credit administration experience in addition to 3-7 years previous management experience or equivalent
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Residential Mortgage Job Description
Job Description Example
Our growing company is looking for a residential mortgage. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for residential mortgage
- Oversee the servicing support, closing, funding and post closing functions for the Residential Lending business
- Ensure compliance with all applicable DB policies and procedures all applicable federal and state regulatory requirements
- Review of entire loan file from a process, regulatory and documentation standpoint to ensure completeness and accuracy
- Prepare “New Loan Set-Up” with sub servicer, Devonmuehle Mortgage Inc ( DMI) and verify set up is correct
- Support senior analysts on research pieces across a range of industry-relevant topics
- Investigate and analyze the latest industry, regulatory, and economic information qualitatively and/or quantitatively
- Assist in development /testing/implementation of models used in the ratings process
- Create presentations and develop compelling graphics for both internal and external usage
- Creation and maintenance of the Reporting Portfolio
- Able to determine income for salaried borrowers and basic knowledge of self-employed borrowers
Qualifications for residential mortgage
- Minimum 5 years’ experience with Microsoft Excel, including macros, pivots, charts/graphs and data organization required
- Degree concentration in accounting or finance preferred
- Experience directing and controlling the activities of a private bank lending area, with responsibility for planning, budgeting, implementing, and maintaining costs, methods, and associates
- Experienced in residential lending
- Experience in loan portfolio monitoring, analyzing data, and translating the results into changes into the Bank’s credit matrices to maintain the Bank’s desired credit quality and growth goals for Consumer Banking CAFEs
- Experience interacting with senior management or executives on matters concerning functional area, divisions, and/or customers
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Residential Mortgage Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of residential mortgage. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for residential mortgage
- Contacting outside vendors and requesting necessary documents
- Successfully documents mortgage loan file within Encompass processing system as required
- Able to interface effectively and professionally with applicants/borrowers, realtors, builders, title companies and others in department to ensure efficient and timely workflow and perform related duties as required
- Maintains and enhances personal knowledge of products and services the laws, regulation and internal policies and procedures appropriate to the position
- Assigning and monitoring workload of individual closers
- Ensure closing department is adequately staffed with skilled employees
- Assuring accurate and timely completion of all Closing Disclosures (“CD”), Closing packages, title review and title company registration
- Thorough knowledge of “Know Before You Owe” (also known as TRID), requirements for CD completion, regulatory waiting periods and tolerance categories
- Oversee the closing /funding department of the regional operations center by overseeing the preparation of closing documents and the funding of loans
- Work directly with Closers and Closing Assistants by providing training and daily support
Qualifications for residential mortgage
- Requires a bachelor or master degree in business, accounting, economics, or equivalent
- Knowledge of “unique vesting’s” irrevocable, trust, property in corporate entities
- Ability to work with various types of computer software, word processing, spreadsheets
- Ability to translate consumer protection alphabet regulatory requirements
- Ability to design a normalized schema write optimized SQL queries, shell scripts and stored procedures
- Ability to create and track project plans
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Residential Mortgage Job Description
Job Description Example
Our company is hiring for a residential mortgage. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for residential mortgage
- Motivate and coach closing department in achieving established goals / Service Level Agreements (“SLA’s”)
- Monitor reports for the purpose of identifying positive and negative trends in productivity with the closing department
- Report productivity and departmental errors on a monthly basis to Operations Manager
- Work with Operations Managers on setting monthly goals
- Work with other Regional Closing Supervisors on any procedure / process changes to ensure consistency between operation centers
- Conduct second review of Closing Disclosures and Closing packages, for an established period of time, for newly hired closers
- Manage any escalated communications for prompt resolution
- Offering recommendations for staff regarding employment, salary changes, promotions, transfer and terminations
- Prepare performance review
- Training, guiding, supporting and advising staff regarding work related matters, including availability for questions
Qualifications for residential mortgage
- Mortgage banking experience required
- 3+ years with data analysis
- Strong database and query experience
- Ability to develop effective and professional presentation materials and reports
- Ability to work independently and facilitate project meetings while meeting prescribed deadlines
- Ability to communicate effectively and professionally, verbally and in writing, with all levels of management
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Residential Mortgage Job Description
Job Description Example
Our growing company is hiring for a residential mortgage. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for residential mortgage
- Provide assistance to personnel and third party originators to field questions, underwriting, funding, relocks, extensions and system updates
- Keeping staff informed of pertinent policies and procedures affecting the closing department and creating an atmosphere in which communication, feedback and positive recommendations from employees is encouraged
- Reviewing and recommending improved operating policies and procedures and performing the proper implementation and maintenance of approved changes
- Maintain caseload as needed to consistently deliver under established Service Level Agreement
- Comply with all BSA / AML requirements
- Oversee vendor review process of title agents to ensure all agents are reviewed in a timely manner
- Comprehensive review of collateral and all property elements
- Ensure portfolio and investor compliance
- Generate self employed income through tax return analysis
- Creating and performing ongoing monitoring activities of sub-servicers key functions/areas related to Fannie Mae loans, including Loan Onboarding, Loan Administration (cash management, escrow administration, ), Default Management (Collections, Loss Mitigation, ), and Investor Accounting
Qualifications for residential mortgage
- BA/BS /MA/MS/PhD degree in Economics, Statistics, Financial Engineering, Operation Research, Public
- Consistency in order to ensure service levels are met
- Must be able to hear and speak to communicate with customers
- Proven organizational skills with ability to multi-task
- Must be able to sit for long periods of time and read from a computer screen
- Must be able to type on a keyboard