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Loan Documentation Processor

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Wells Fargo

18d ago

  • Job
    Full-time
    Junior Level
  • Customer Relations
    Banking & Finance
  • Hyderabad, +1
    Remote

AI generated summary

  • You need 2+ years in mortgage processes, wage earner income calc experience, a commerce/finance degree, Microsoft Office skills, and strong communication and analytical abilities.
  • You will process and review loan documentation, ensure compliance, analyze applicant info, manage a loan pipeline, and communicate findings while training team members on policies and procedures.

Requirements

  • 2+ years of US residential mortgage components of underwriting, processing and/or post-closing experience
  • Wage Earner Income calculation experience is mandatory
  • Graduate in commerce/finance/management stream or equivalent
  • Basic Microsoft Office skills
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy
  • Ability to take initiative and drive for results with minimal supervision
  • Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex fast paced environment

Responsibilities

  • Support in performing a variety of loan documentation duties on moderately complex loans to ensure compliance with company's policies and procedures for loan products
  • Perform loan documentation for moderately complex loans
  • Process and close for loan products
  • Interpret Loan Documentation policies while analyzing applicant, property, and documentation, ordering all required verifications, documentation, and subsequent follow ups
  • Receive direction from Loan Documentation supervisor and escalate non-routine questions
  • Manage an assigned pipeline of loans and provide guidance and training to other Loan Documentation individuals
  • Interact with immediate Loan Documentation team and functional area on routine process
  • Perform in-depth, prefund loan reviews and validate transactions within set guidelines for Processing & Underwriting
  • Perform in-depth review of mortgage loan file including Credit, Capacity, Capital and Collateral documents
  • Detailed review of Credit related documents such as Credit Report from Experian/Transunion/Equifax, Credit Supplements, Mortgage Statement, and Letter of Explanation etc.
  • Detailed review of Capacity related documents such as Paystub, W2, VOE, Award letters and Bank Statements etc.
  • Detailed review of Capital related documents such as Bank Statements, Gift letter, Stocks and Bonds etc.
  • Detailed review of Collateral related documents such as Property Appraisal Report, Flood Report, and Purchase Agreement etc.
  • Recommend borrower's eligibility in accordance with internal policies and procedures, agency guidelines and overlays utilizing Automated Underwriting System (AUS)
  • Ability to identify potential red flags relating to customer information, income, assets, property, all parties to the transaction, etc.
  • Utilize current knowledge of credit policy guidelines and procedures, use available tools and resources to recommend credit decision
  • Ability to clearly document the loan rationale findings in loan notes
  • Review stipulations/conditions for compliance and completion of loan file specific to the borrower profile, loan program and product
  • Receive direction from more experienced managers and exercise judgment on relevant reviews within rules and regulations while developing an understanding of internal company requirements
  • Provide communication regarding overall process and transaction quality to appropriate parties

FAQs

What is the primary responsibility of a Loan Documentation Processor at Wells Fargo?

The primary responsibility is to perform various loan documentation duties on moderately complex loans, ensuring compliance with the company's policies and procedures for loan products.

What qualifications are required for the Loan Documentation Processor position?

Candidates must have 2+ years of experience in US residential mortgage components of underwriting, processing, and/or post-closing, along with mandatory experience in Wage Earner Income calculation. A degree in commerce, finance, or management or equivalent is also required.

What type of skills are desired for this position?

Desired skills include basic Microsoft Office proficiency, excellent verbal and written communication skills, strong analytical skills with high attention to detail and accuracy, initiative and drive for results, as well as the ability to prioritize work and meet deadlines in a fast-paced environment.

What is the expected work schedule for this role?

The candidate must be willing to work within US hours, typically between 6:30 PM to 3:30 AM and 8:30 PM to 5:30 AM Indian Standard Time.

Is there a requirement for loan reviews in this role?

Yes, the position involves performing in-depth prefund loan reviews and validating transactions within guidelines for processing and underwriting.

How does Wells Fargo prioritize diversity in hiring for this position?

Wells Fargo values diversity, equity, and inclusion, welcoming applications from all qualified candidates regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, disability, or any other protected status.

Are there opportunities for growth or training as a Loan Documentation Processor?

Yes, the role involves providing guidance and training to other Loan Documentation individuals, indicating opportunities for leadership development.

What should be escalated to a Loan Documentation supervisor?

Non-routine questions and issues that arise should be escalated to a Loan Documentation supervisor for guidance.

Will I need to review documents related to various loan components?

Yes, the role involves a detailed review of Credit, Capacity, Capital, and Collateral documents related to mortgage loans.

Is accommodations available for applicants with disabilities?

Yes, accommodation for applicants with disabilities is available upon request during the recruitment process.

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Wells Fargo

Finance
Industry
10,001+
Employees
1929
Founded Year

Mission & Purpose

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with approximately $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through more than 7,300 locations, 12,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in over 40 countries and territories to support customers who conduct business in the global economy. With approximately 250,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories. Relevant military experience is considered for veterans and transitioning service men and women. Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation. © 2016 Wells Fargo Bank, N.A. All rights reserved. Member FDIC.