LOAN OFFICER'S DUTIES

  1. The Loan Officer is responsible for ALL CLIENT CONTACT. Please remember that these are YOUR contacts and clients, the relationship is with you. In the future you will want your client to call you, not the processor (no matter how spectacular he or she may be...), for new loan information or with referrals.
  2. LO is responsible for pricing, locking, and extending loans and providing current updated Rate Lock Confirmations to Karrapho Mortgage Services.
  3. LO is responsible for providing Processors with Investor specific Registration Sheet with all correct program and contact information.
  4. LO must provide Registration or Lock-In Form WITH Investor Loan Number.
  5. If available for the loan program, LO must provide Automated Underwriting findings with each file. AU findings must be consistent with the Calyx POINT file for the borrower and also be assigned to the correct Investor.
  6. LO must email COMPLETE and ACCURATE Calyx Point file to photimi@karrapho.com A complete Point file will include: borrower email address for loan updates, realtor information if applicable, insurance agent name and number, title and appraisal company to order with, Investor name and loan number, as well as lock date, expiration, and YSP. All of this information can be entered in Calyx point in either TRACK (click on heading across top of POINT when file is open) – General or Agent. Please also make sure REO section is complete and accurate. Please call Karrapho Mortgage Services for more instructions on how to fully utilize Calyx POINT. Once the file is emailed to processing, all changes to the file will be made by emailing photimi@karrapho.com. Please help us in developing a consistent process and request all changes in writing.
  7. The Loan Officer is responsible for explaining all fee changes from the original good faith to the borrower as well as making any loan amount or program changes. Loan amount or program changes should be made by the loan officer by emailing Karrapho Mortgage Services with the corrected information referenced in the Subject Line with the borrower's name. Lock confirmations should also be resubmitted via fax or email to Karrapho Mortgage Services by the loan officer if there are any pricing changes due to changes in the loan, and updated Good Faith Estimates signed with all changes must be faxed as well.
  8. Loan Officer will submit a fee sheet to processing and review all fees and program information prior to docs being drawn. All Investor specific doc orders will also be faxed to the Loan Officer for approval of fees and signatures. Loan Officers are responsible for verifying all fees that are to be on the HUD as well as any document redraw fees that occur.
  9. Loan Officer will schedule the closing date and time with the borrowers, realtors, and title as well as review the HUD 1. The Loan Officer will notify processing of the desired time and location of the closing in writing at either of the company emails and the processors will confirm with title and the closer.
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