Clerk, Control

Ridgewood Savings Bank•Uniondale, NY

16h

About The Position

This role is responsible for managing the registration of applications, issuing disclosures, and ensuring regulatory compliance. The position involves monitoring application sources, communicating with applicants and brokers for missing information, and verifying loan terms against bank guidelines. Key duties include running OFAC checks, verifying NMLS registration, and assigning applications to processors. The role also supports the processing of Retail and Consumer loan applications, prepares Wholesale loan applications for underwriting by ordering and evaluating credit reports, and ensures all required forms are obtained. Additionally, the position provides back-up for daily financial transactions, including G/L entries for fees, verifying bills for services, and maintaining proof and control of department G/L accounts by comparing system data. It also involves paying fees due to brokers and maintaining broker registrations. The role requires providing accurate and timely management reporting and monitoring non-delivered packages from brokers. Assistance is provided in processing mortgage and consumer loan applications by contacting relevant parties for missing information. The position also involves 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.
Monitoring sources applications are received (ie consultants, brokers, on-line lending system).
Contacting applicants, consultants and/or mortgage brokers relative to missing information or documentation.
Verifying loan terms meet Bank’s guidelines.
Running OFAC checks, DNA and Cenlar on all customers.
Verifying broker/loan originator is registered with NMLS.
Assigning 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.
Provide 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.
Verify accuracy of bills for credit reports, flood certifications and tax transcripts prior to requesting and disbursing payment.
Assist 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.