Arvest Bank Operations, Inc.
Mortgage Hybrid Processor
Arvest Bank Operations, Inc., Lowell, Arkansas, United States, 72745
Pay is based on a number of factors including the successful candidate's job-related knowledge and skills, qualifications, and prior experience. Arvest offers a comprehensive suite of benefits, including a full range of health and life, financial, and wellness benefits. For more information about benefits, please visit www.arvest.com/careers/benefits.
Position can be located at 202 S Goad Springs Road in Lowell, Arkansas or at any branch in the Little Rock, Arkansas metro area.
Position is Monday through Friday 8 am to 5 pm.
Summary:
The story of Arvest is one of commitment, started by our founders in 1961 with an intense dedication to focusing on our customers. We will always be active and involved members of the communities we serve, and we will always work to put the needs of our customers first as we continue to fulfill our mission -
People helping people find financial solutions for life.
Job Title: Mortgage Hybrid Processor
The Mortgage Hybrid Processor processes more complex 1-4 unit, single-family mortgage loan application requests. The incumbent will independently review and analyze the documentation provided in the loan file to ensure it meets the requirements for the required loan program, which could be any of the following: Conventional, FHA, VA, RD, Jumbo, Bond, HUD 184, or In-house. The Hybrid Processor is required to communicate directly with borrowers, mortgage loan officers, title companies, insurance agents, realtors, and other parties as needed. The Hybrid Processor will be expected to process more complex files, effectively manage a pipeline, and complete all duties with high independence, efficiency, accuracy, and complete confidentiality.
What You Will Do at Arvest:
(Other duties may be assigned.)
Loan File Management & Processing • Review and analyze loan files to ensure all documentation meets program and regulatory guidelines for various loan types (Conventional, FHA, VA, RD, Jumbo, Bond, HUD 184, In-house). • Complete initial review, update loan files with preliminary conditions, and communicate conditions directly to borrowers. • Identify and obtain missing items directly from customers before submitting for underwriting decisions. • Review new loan files from underwriting, identify needed items from existing documents, underwriting conditions, fraud reports, and AUS, and communicate with the customer to obtain them. • Monitor and address all file alerts within the LOS from receipt through closing. • Reconcile and correct loan applications in the LOS as documents are received, identify and correct discrepancies, and rerun AUS for accurate findings. • Monitor NOI and Reg B dates to ensure file compliance with regulatory deadlines; issue NOI or close files for incompleteness as needed.
Customer & Stakeholder Communication • Communicate directly with borrowers, mortgage loan officers, title companies, insurance agents, realtors, and other parties as needed. • Maintain regular communication with borrowers, loan officers, and realtors regarding loan files, serving as a resource for questions and updates until closing.
Financial Analysis & Verification • Analyze credit, income, and asset documentation. • Calculate qualifying income using worksheets for W2 wage earners, retirement, social security, or self-employment. • Analyze personal and business tax returns to calculate qualifying income for self-employed borrowers. • Review customer and third-party documentation, making decisions on additional documents or clarifications needed. • Monitor the assigned pipeline for required VVOEs to avoid closing delays.
Appraisal & Flood Zone Management • Review the file for flood certification and order if not present. • Review flood certification to determine if the subject is in a flood zone; if so, print the flood map to identify the location of all structures. • Work with the assigned mortgage loan officer to promptly order appraisals when required. • Monitor, follow up, review, and deliver appraisals promptly, notifying the underwriter and appraisal team of any discrepancies.
Pipeline Management & Efficiency • Effectively manage a pipeline with high independence and efficiency. • Manage all aspects of assigned pipelines, including verifications, to ensure compliance with service level agreements and timely follow-up. • Obtain underwriting approval on the first submission at least 90% of the time.
Knowledge & Decision Making • Maintain a thorough working knowledge of how to navigate investor guidelines and stay current with changes. • Independently make appropriate decisions for each loan that comply with AllRegs/Selling Guides/Lender Handbooks and Arvest Policies and Procedures, with limited direction. • Maintain a thorough working knowledge of all loan programs and regulatory guidelines.
Compliance & Quality Control • Review and ensure case numbers and acceptable CAIVRS are present in government loan files. • Run fraud reporting, review for potential borrower and/or property fraud, and follow appropriate processes for suspicious activity. • Maintain up-to-date processor comments in the system, detailing actions, follow-up dates, and borrower contact. • Prioritize and address all QC pre-funding and post-closing findings, obtaining additional information as needed. • Understand and comply with bank policy, laws, regulations, and the bank's BSA/AML Program, as applicable to your job duties. This includes but is not limited to: complete compliance training and adhering to internal procedures and controls; report any known violations of compliance policy, laws, or regulations; and report any suspicious customer and/or account activity.
Responsibilities:
Required Toolbox for Success: • High School Diploma or General Education Degree (GED) • 2 years of experience reviewing mortgage credit application files • 2 years of mortgage processing experience or equivalent • 1 year of processing government loan files or equivalent • 1 year of detailed contact with customers, realtors and title companies • 1 year of analyzing and calculating qualifying income • Working knowledge of all real estate regulations, including, but not limited to RESPA, TRID, TILA, Fair Credit Reporting Act, Fair Lending, Reg B (ECOA), Reg C (HMDA) and Flood Act, and Interagency Appraisal and Evaluation Guidelines • Relevant military experience is considered for veterans and transitioning service members
Preferred Toolbox: • Arvest experience
Physical Demands:
The associate must be able to travel occasionally by themselves within the US, possibly overnight. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.
We offer competitive compensation, benefits packages, and significant professional growth.
Along with an excellent benefits package, our associates are engaged, rewarded for performance, and encouraged to grow professionally and personally. Our future is driven by our associates. If you want to be recognized for your results and empowered to reach your potential, we urge you to apply.
Grade 12
Pay Range:
$20.00 - $22.00 per hour
Position can be located at 202 S Goad Springs Road in Lowell, Arkansas or at any branch in the Little Rock, Arkansas metro area.
Position is Monday through Friday 8 am to 5 pm.
Summary:
The story of Arvest is one of commitment, started by our founders in 1961 with an intense dedication to focusing on our customers. We will always be active and involved members of the communities we serve, and we will always work to put the needs of our customers first as we continue to fulfill our mission -
People helping people find financial solutions for life.
Job Title: Mortgage Hybrid Processor
The Mortgage Hybrid Processor processes more complex 1-4 unit, single-family mortgage loan application requests. The incumbent will independently review and analyze the documentation provided in the loan file to ensure it meets the requirements for the required loan program, which could be any of the following: Conventional, FHA, VA, RD, Jumbo, Bond, HUD 184, or In-house. The Hybrid Processor is required to communicate directly with borrowers, mortgage loan officers, title companies, insurance agents, realtors, and other parties as needed. The Hybrid Processor will be expected to process more complex files, effectively manage a pipeline, and complete all duties with high independence, efficiency, accuracy, and complete confidentiality.
What You Will Do at Arvest:
(Other duties may be assigned.)
Loan File Management & Processing • Review and analyze loan files to ensure all documentation meets program and regulatory guidelines for various loan types (Conventional, FHA, VA, RD, Jumbo, Bond, HUD 184, In-house). • Complete initial review, update loan files with preliminary conditions, and communicate conditions directly to borrowers. • Identify and obtain missing items directly from customers before submitting for underwriting decisions. • Review new loan files from underwriting, identify needed items from existing documents, underwriting conditions, fraud reports, and AUS, and communicate with the customer to obtain them. • Monitor and address all file alerts within the LOS from receipt through closing. • Reconcile and correct loan applications in the LOS as documents are received, identify and correct discrepancies, and rerun AUS for accurate findings. • Monitor NOI and Reg B dates to ensure file compliance with regulatory deadlines; issue NOI or close files for incompleteness as needed.
Customer & Stakeholder Communication • Communicate directly with borrowers, mortgage loan officers, title companies, insurance agents, realtors, and other parties as needed. • Maintain regular communication with borrowers, loan officers, and realtors regarding loan files, serving as a resource for questions and updates until closing.
Financial Analysis & Verification • Analyze credit, income, and asset documentation. • Calculate qualifying income using worksheets for W2 wage earners, retirement, social security, or self-employment. • Analyze personal and business tax returns to calculate qualifying income for self-employed borrowers. • Review customer and third-party documentation, making decisions on additional documents or clarifications needed. • Monitor the assigned pipeline for required VVOEs to avoid closing delays.
Appraisal & Flood Zone Management • Review the file for flood certification and order if not present. • Review flood certification to determine if the subject is in a flood zone; if so, print the flood map to identify the location of all structures. • Work with the assigned mortgage loan officer to promptly order appraisals when required. • Monitor, follow up, review, and deliver appraisals promptly, notifying the underwriter and appraisal team of any discrepancies.
Pipeline Management & Efficiency • Effectively manage a pipeline with high independence and efficiency. • Manage all aspects of assigned pipelines, including verifications, to ensure compliance with service level agreements and timely follow-up. • Obtain underwriting approval on the first submission at least 90% of the time.
Knowledge & Decision Making • Maintain a thorough working knowledge of how to navigate investor guidelines and stay current with changes. • Independently make appropriate decisions for each loan that comply with AllRegs/Selling Guides/Lender Handbooks and Arvest Policies and Procedures, with limited direction. • Maintain a thorough working knowledge of all loan programs and regulatory guidelines.
Compliance & Quality Control • Review and ensure case numbers and acceptable CAIVRS are present in government loan files. • Run fraud reporting, review for potential borrower and/or property fraud, and follow appropriate processes for suspicious activity. • Maintain up-to-date processor comments in the system, detailing actions, follow-up dates, and borrower contact. • Prioritize and address all QC pre-funding and post-closing findings, obtaining additional information as needed. • Understand and comply with bank policy, laws, regulations, and the bank's BSA/AML Program, as applicable to your job duties. This includes but is not limited to: complete compliance training and adhering to internal procedures and controls; report any known violations of compliance policy, laws, or regulations; and report any suspicious customer and/or account activity.
Responsibilities:
Required Toolbox for Success: • High School Diploma or General Education Degree (GED) • 2 years of experience reviewing mortgage credit application files • 2 years of mortgage processing experience or equivalent • 1 year of processing government loan files or equivalent • 1 year of detailed contact with customers, realtors and title companies • 1 year of analyzing and calculating qualifying income • Working knowledge of all real estate regulations, including, but not limited to RESPA, TRID, TILA, Fair Credit Reporting Act, Fair Lending, Reg B (ECOA), Reg C (HMDA) and Flood Act, and Interagency Appraisal and Evaluation Guidelines • Relevant military experience is considered for veterans and transitioning service members
Preferred Toolbox: • Arvest experience
Physical Demands:
The associate must be able to travel occasionally by themselves within the US, possibly overnight. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.
We offer competitive compensation, benefits packages, and significant professional growth.
Along with an excellent benefits package, our associates are engaged, rewarded for performance, and encouraged to grow professionally and personally. Our future is driven by our associates. If you want to be recognized for your results and empowered to reach your potential, we urge you to apply.
Grade 12
Pay Range:
$20.00 - $22.00 per hour