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Subordination Specialist - Bloomingdale

Job Description:	This hourly (non-exempt) position works within the First American Bank mortgage and retail loan underwriting hub analyzing, processing and making decisions whether the Bank will subordinate an existing home equity loan when the borrowers are actively refinancing their first mortgage. Responsibilities: Originate complete subordination packages from First American Bank's mortgage processing and underwriting team as well as external mortgage lending sources. Analyze the request regarding risk, re-pricing, and/or the need to rewrite and restructure the home equity in order to approve the subordination requested. Interact with all stake holders in the transaction, including, but not limited to, mortgage brokers, other banks and mortgage companies, customers, title companies, and secondary market investors. Explain our subordination process, gather documents needed, evaluate risk, recommend a course of action, and execute the desired result. Handle all aspects of the mortgage subordination process and manage all possible scenarios. Qualifications: High school degree required. Must be able to communicate the Bank's goals and standards for granting and approving a subordination request in a professional and courteous manner. As subordination requests may have outcomes that are not what the customers and pending first mortgage lender prefer, conversations can become emotional and aggressive. An empathetic, yet firm, explanation of our subordination terms will be frequently necessary. Managing emotions and controlling conflict are valued skill sets for this position. Experience with Word, LotusNotes, Excel, and loan application processing software is preferred. Typical schedule is 8:00 am to 5:00 pm , or 8:30 am to 5:30 pm, Monday through Friday. Possible infrequent Saturdays from 8:00 am to 12:00 pm may be required to meet volume demand. This position may require origination of certain loan applications and therefore requires that the employee registers with the Nationwide Mortgage Licensing System & Registry (NMLS) in order to comply with the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act). Registration may consist of submission of personal information such as home address, social security number, gender, date and place of birth, employment history, among other things. Registration also requires employees to submit fingerprints and submit to a criminal background check. Renewal of the registration requirements may be required periodically throughout the term of the employment. What we offer: Because our associates are our most valuable resource, we recognize their contributions through competitive pay and complete benefits. First American Bank is an Equal Opportunity Employer
Job Location:	16 - Bloomingdale

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