Clerk, Control

Ridgewood Savings Bank•Town of Hempstead, NY

1d•$43,400 - $51,000

About The Position

This role is responsible for ensuring the timely registration of applications and issuance of disclosures, maintaining regulatory compliance, and monitoring application sources. The position involves contacting applicants and brokers for missing information, verifying loan terms against bank guidelines, and performing various checks such as OFAC, DNA, and Cenlar. The Clerk, Control also assigns applications to Processors and implements the processing of Retail and Consumer loan applications by reviewing submissions in the loan origination system. Additionally, this role prepares Wholesale loan applications for Underwriting by ordering and evaluating credit reports, ensuring all required forms are obtained, and providing back-up for daily financial transactions. This includes making appropriate G/L entries for fees, verifying bills for services, and assisting in maintaining proof and control of the department's G/L accounts. The position also involves paying fees due to brokers, maintaining broker registrations, and providing accurate management reporting. The Clerk, Control monitors non-delivered packages from brokers and assists in processing mortgage and consumer loan applications by gathering necessary information. The role also includes performing other related duties as required.

Requirements

Knowledge of the mortgage and consumer loan application processes including FNMA, Regulatory and Bank Guidelines.
Strong knowledge of TILA/RESPA.
Knowledge of good organizational and communication skills.
Demonstrated knowledge of PCs.
Demonstrated knowledge of basic accounting and analytical abilities.
Ability to research differences and bring to resolution.

Responsibilities

Ensures timely registration of applications and issuance of initial disclosures and/or revised disclosures ensuring Regulatory Compliance.
Monitors sources applications are received (ie consultants, brokers, on-line lending system).
Contacts applicants, consultants and/or mortgage brokers relative to missing information or documentation.
Verifies loan terms meet Bank’s guidelines.
Runs OFAC checks, DNA and Cenlar on all customers.
Verifies broker/loan originator is registered with NMLS.
Assigns applications to Processors.
Implements the processing of Retail and Consumer loan applications by reviewing new applications submitted into the loan origination systems.
Prepares Wholesale loan application for submission to Underwriting by ordering and evaluating credit reports to determine housing and debt ratios and any indebtedness not included in credit report, as applicable.
Ensures appropriate forms as required have been appropriately obtained and are a component of all application packages.
Provides back-up to perform daily financial transactions on Bank’s Core and Mortgage Origination Systems by making appropriate G/L entries for appraisal fees, credit report fees and points paid at time of application and/or Commitment.
Verifies accuracy of bills for credit reports, flood certifications and tax transcripts prior to requesting and disbursing payment.
Assists in maintaining proof and control of the department’s G/L accounts by running corresponding daily reports, keeping a control log and comparing the Mortgage Origination System data to that of Nautilus.
Back-up in paying fees due brokers by preparing vouchers after careful verification through comparison of Mortgage Origination reports and fees due broker sheets.
Maintains broker registrations for receipt of complete processing package.
Provides accurate and timely management reporting.
Monitors non-delivered packages from Brokers until receipt of complete processed package.
Assists in the processing of mortgage and consumer loan applications by contacting applicants and/or mortgage brokers relative to missing information or documentation.
Helps out, where necessary, by performing other related duties which may be required from time to time.