Cenlar FSB

Assumption Processor I

Cenlar is the nation’s leading mortgage loan subservicer. Our unique culture is defined by our core values of respect, trust, integrity and care. A promote-from-within philosophy, and opportunities for continuous professional growth make Cenlar a great place to launch or boost your career.

The Assumption Processor is responsible for evaluating initial assumption applications for eligibility based on investor guidelines, including VA, FHA, Fannie Mae, Freddie Mac and private investors. The processor works primarily with borrowers and applicants to receive and review loan applications, send/receive disclosures, pull credit, calculate debt-to-income ratios, obtain conditions, and submits complete packages to underwriting for a credit-qualifying review. 

Responsibilities:

• Reviews assumption requests for eligibility based on client and investor guidelines
• Prepares and send new assumption applications to eligible parties
• Serves as first point of contact for all assumption questions; walk borrower/applicant through assumption process and set expectations around processing, underwriting and closing timelines 
• Reviews incoming applications to determine completeness; works with borrowers/applicants to obtain missing documentation, such as bank statements, pay stubs, processing fees, property tax bills, etc. 
• Ensures documents are uploaded/imaged into our LOS
• Ensures incoming applications and documentation are processed timely to ensure compliance with regulatory requirements
• Assigns incoming applications to the processors
• Collects and organizes applications and all supporting documentation to create a complete borrower/applicant file and handoff to Assumption Processor for handling
• Enters borrower/applicant and loan information into assumption software (Calyx)
• Assists with any client/applicant or internal email or telephone inquiries related to the assumption process or file status
• Assists with other projects as assigned by Special Products Management
• Appropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar’s reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.

Qualifications:

• Bachelor’s degree or equivalent experience
• At least 1 to 2 years of related experience within the industry
• Knowledge of Microsoft Office Suite (MS Excel proficiency a plus)
• Strong commitment to excellent customer service
• Detail-oriented 
• Ability to thrive in a faced-paced and dynamic work environment
• Excellent written and verbal communication skills
• Knowledge of Calyx preferred

Total Rewards:

At Cenlar, you’ll receive an outstanding benefits package that includes paid medical, dental, and life insurance, 401(k), and tuition assistance as well as opportunities for training and professional advancement.

Cenlar is a drug-free workplace and an equal employment opportunity/affirmative action employer M/F/D/V/SO.

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