Special Products & Loans at Valon

Valon’s Special Products team is responsible for managing core business processes for SCRA-protected loans, MERS, ARMs, successors in interest, co-ops, assumptions, and partial release requests. We are a team of creative individuals who approach servicing challenges with an innovative mindset. We aim to help homeowners resolve special servicing needs from behind the scenes and to provide a first-class customer experience.

About the Role

As the Special Products Senior Specialist — Assumptions Loan Processor you will gather, process, and be responsible for underwriting qualified assumptions on agency and government loans for both non-credit qualifying and fully underwritten credit qualifying assumptions for all loan types. Experience with all categories of VA, FHA, USDA and GSE loans necessary for processing and underwriting. Phone contact with existing customers, realtors’ parties assuming loans is required. Other duties will be assigned as needed for line balancing within the Assumption and Special Products Department.

Responsibilities

• Receive and review assumption request applications to determine if qualified.
• Review and analyze file documents including income, assets, credit, appraisal and title insurance to ensure completeness and accuracy.
• Performs final review of the completed application packages and prepares the file for approval, specifying any applicable conditions to the approval.
• Initiate and maintain contact with customers, realtors and assuming parties throughout the processing period, assisting them with any questions and notifying them of any additional information needed.
• Establishes accurate closing dates and monitors promised closing dates to meet those established. Meets standards for closing percentages of loans processed.
• Send notice to the applicant of approval or denial.
• Send assumption agreements to be recorded.
• Follow procedures to ensure compliance with internal business standards and applicable federal, state, local or other regulatory disclosures and requirements.
• Answering Assumptions Email box and Assumptions Department phone line.
• Satisfies conditions and ensures documentation meets requirements.
• Strive to provide a first-class experience for homeowners with special servicing needs, even though the role is behind the scenes.
• Maintain accurate and thorough documentation of all special servicing transactions.
• Keep detailed records of communication and actions taken for audit and compliance purposes.
• Identify opportunities for process improvements within the Special Products Team and contribute to enhancing overall operational efficiency.
• Work closely with other teams within Valon, such as customer service, legal, and loan origination, to ensure smooth and efficient handling of special servicing needs.
• Stay updated on industry regulations and guidelines, especially those related to special loan servicing, to ensure compliance in all processes.
• Assist with other Special Loans and Products tasks as assigned to include but not limited to: Servicemembers Civil Relief Act (SCRA), Mortgage Amendments, ARMs, and SII.
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Ideal Background

• Detailed knowledge of FHA, VA, Conventional, USDA.
• Must be proficiency with asset and income documentation, including but not limited to, tax returns, fixed income sources, paystubs, W2’s, retirement statements, bank statements,
• Ability and willingness to train and mentor less experienced associates
• 2+ years of current Mortgage UW experience
• Knowledge of loan documentation, terms, and conditions, with a track record of accurate and compliant processing.
• Read, interpret and apply applicable laws, rules, regulations and/or policies and procedures.
• Demonstrated expertise in managing complex loan transactions, including recasts, assumptions, successor in interest, and partial release requests.

Minimum Qualifications

• Experience ensuring compliance with industry regulations and implementing processes to meet legal requirements.
• Proven ability to approach servicing challenges with creativity and innovation, finding effective solutions for unique and complex loan scenarios.
• Strong problem-solving skills and the ability to adapt to changing circumstances while maintaining a focus on customer satisfaction.
• Excellent communication skills, both written and verbal, to effectively interact with internal teams and external stakeholders.
• Demonstrated ability to collaborate with cross-functional teams, including customer service, legal, and loan origination, to achieve common goals.

Benefits

• Compensation: Competitive salary and a 401(k) plan—with a 4% annual match!
• Hours: No weekends or late nights required!
• Generous amount of paid time off: 17 days of paid time off, 5 additional paid sick days, and 11 paid company holidays!
• Health & well-being: We’ll invest in your physical and mental well-being with comprehensive, low-cost medical, dental, & vision benefits, and an EAP for additional support!
• Food & meals: In-office snacks and drinks (and Bagel Fridays)!
• Grow together: We set new employees up for success with our company-wide New Hire Orientation! Other learning and development opportunities include quarterly possibilities for promotion and annual performance reviews.
• Baby bonding time: Birthing and non-birthing parents receive 12 weeks of FULLY PAID time off to focus on their new addition(s)!