Western Alliance Bank

Mortgage Purchase Specialist

Req No.
2017-3950
Western Alliance Bank
Category
Commercial & Industrial Lending
Type
Regular Part Time
Chandler

Overview

The Residential Mortgage Purchase Program (RMPP) has been developed to further the strategic objectives of the Bank by investing in the purchase of residential mortgage loans. The mortgage loan(s) purchased, will be bought at par or a discount to par for those loans with minor issues or defects from origination. The Warehouse Lending department is responsible for bidding the loans, overseeing the due diligence process completed by a third-party vendor, collateral review and funding the purchase.

Responsibilities

  • Acts as warehouse lending operations primary point of contact for customers in processing their funding requests. 
  • Send executed documents to vendor and wire funds for purchase to the seller of the mortgage loans.
  • Review collateral for each loan prior to funding purchases to ensure accuracy and completeness so WAB can properly secure interest
  • Prepare monthly reconciliations of department GLs, loan payment remittance and perform quarterly reconciliation of all loans registered in MERS.
  • Monitors compliance with state and federal laws and regulations and the Bank's lending policies and procedures.
  • Initiate and generate outgoing money transfers and ensure that all transactions are properly authorized.
  • Actively participates in quality control with regards to audits and certification.
  • Assists Loan Officers and other Bank personnel as needed; and resolves inquiries or issues related to the Warehouse lending operations.

Qualifications

  • 1 year of experience in the banking or financial industry required.
  • 1 year of Loan Processing, Closing or a similar function in Warehouse lending is preferred.
  • Experience with warehouse funding preferred.
  • Mortgage lending or banking-related training in loan documentation, fund control, and disbursement experience and ability to draw loan documents is preferred
  • Strong organizational and time management skills.
  • Exceptional oral, written and interpersonal communication
  • Basic knowledge of computer operation including Microsoft Excel and Word

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