Mortgage Loan Shipper Job Description
Reports To: Operations Manager
Overall Summary: Our operations team has an excellent reputation in the industry because we provide quality files to our investors; it’s that simple. Shippers ensure lenders, title, and warehouse banks are all working within their posted turn times and are an instrumental and vital part of transitioning the closing process - from the Close Date to the Sell Date - on required deadlines. Shippers run daily reports to track insuring, payment of funding fees, and delivery of loans. Shippers have complete understanding of compliance regulations to conduct the final review and for accurate delivery of FHA, VA, Conventional, USDA, and Bond closed loan files to the secondary market and insuring agencies, as required.
Essential Skills: Loan shippers must have exemplary organization skills with the ability to multi-task. Time management skills are essential. Must be able to work under pressure and handle a heavier workload towards the first of the month. Must be able to efficiently communicate and have excellent follow-through.
• Manage large volumes of loans concurrently in the pipeline.
• Files must be double checked to ensure accuracy prior to investor delivery.
• Ensure loans have a complete quality control review.
• Ensure loan packages are received back within 48 hours of closing.
• Pay and record payment of funding fees and mortgage insurance.
• Prepare complete loan files to be delivered in a timely manner to investors to meet delivery expirations.
• Submit files for insuring.
• Receive and log collateral packages from settlement agents.
• Ship collateral packages to warehouse banks to meet delivery requirements.
• Ensure final electronic file is complete for delivery to investors, for future audits – state/internal/etc. and for future reference.
• Handle issues as they arise and escalate unresolved issues to respective manager.
1 to 2 years in the Mortgage Industry a must, support staff role preferred but not required.
Hours: 8:30 to 5:00 with ½ hour lunch