Assumption Loan Processor

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

We are currently seeking an Assumptions Loan Processor for our Assumptions team in Owensboro, KY. The Assumptions Loan Processor is responsible for managing assumption requests for eligible customers, ensuring that loan servicing requirements are met according to investor specifications. This role involves ensuring compliance with bank, regulatory, and investor guidelines, as well as maintaining high customer service standards. The Assumptions Loan Processor communicates with customers, internal staff, title companies, and other stakeholders to address inquiries, resolve issues, and gather all necessary documentation required for the assumption process.

Key Responsibilities:

• Manage assumption requests for eligible customers in accordance with investor guidelines and bank policies.

• Ensure compliance with regulatory requirements and investor standards throughout the assumption process.

• Communicate effectively with customers, internal teams, and external parties to address inquiries and resolve issues related to assumption requests.

• Obtain all necessary documentation and information required for assumption processing, including verification of borrower eligibility and financial documentation.

• Review loan files and documentation to identify any discrepancies or missing information, taking appropriate actions to rectify issues.

• Collaborate with loan officers, underwriters, and other departments to facilitate smooth and efficient assumption transactions.

• Maintain accurate records and documentation of assumption activities, ensuring data integrity and compliance with record-keeping standards.

• Provide exceptional customer service by addressing customer concerns, answering questions, and providing timely updates throughout the assumption process.

• Stay informed about industry trends, regulatory changes, and best practices related to loan assumptions, and incorporate relevant knowledge into daily operations.

• Perform other duties and responsibilities as assigned by management to support the overall objectives of the loan servicing department.

This position requires National Mortgage Licensing System (NMLS) registration under the terms of the S.A.F.E. Act of 2008 and Regulation Z. You will be subject to the required registration process, which includes a criminal background and credit check. Failure to meet or maintain any of the NMLS registration requirements, including maintaining a satisfactory criminal and credit record, may result in a rescission of your offer or termination of employment.

Basic Qualifications

• High school diploma or equivalent

• Typically two to three years of job-related experience

Preferred Skills/Experience

• Good knowledge of assumptions processing and closing policies and procedures, documents, underwriting requirements, governmental and agency requirements, terminology and automated processing systems.

• Previous experience in loan processing, mortgage servicing, or related financial services role preferred.

• Strong understanding of loan servicing procedures, regulations, and investor guidelines.

• Excellent communication skills, both verbal and written, with the ability to interact professionally with customers and colleagues.

• Detail-oriented with strong organizational skills and the ability to prioritize tasks effectively.

• Proficient in Microsoft Office Suite and loan servicing software.

• Ability to work independently and collaboratively in a fast-paced environment.

• Commitment to providing outstanding customer service and resolving issues promptly and effectively

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits:

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

• Healthcare (medical, dental, vision)

• Basic term and optional term life insurance

• Short-term and long-term disability

• Pregnancy disability and parental leave

• 401(k) and employer-funded retirement plan

• Paid vacation (from two to five weeks depending on salary grade and tenure)

• Up to 11 paid holiday opportunities

• Adoption assistance

• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

EEO is the Law

U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, US Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401k contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $20.00 - $23.65 - $26.02 Job postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.