Loan Specialist

Job Title

Loan Specialist

Duties

The incumbent reviews submitted documentation including VA forms, resolving data discrepancies, to make eligibility determinations, and issue Certificates of Eligibility.

Reviews the underwriting of loan applications submitted to VA for guaranty in-order to ensure lender compliance with VA underwriting guidelines and regulations such as fees and charges.

Answers incoming calls and personally handles inquiries, through personal or written contacts, to guide, counsel, and instruct program participants on aspects of the VA Home Loan program, while ensuring prompt and courteous service.

Recommends approval or disapproval of restoration of entitlement, release of liability and substitution of entitlement applications; and audits releases or assumptions processed and approved by lenders, requesting additional documentation as necessary.

Maintains records and controls in compliance with established procedures; prepares reports and quality control reviews and performs all functions relative to the maintenance of lender files. To include lender monitoring, underwriter approvals, and review of supervised/non-supervised lender applications.

Underwrites complex loan applications; by analyzing the financial capacity of joint mortgagors, marginal loan applicants, Veterans who receive pensions, income based on operations of business firms, multi-family housing rentals, or unstable incomes.

Collects, researches, analyzes, interprets, retrieves, and inputs data for/from a variety of computer systems, including Microsoft Word, Excel, SharePoint, and Salesforce applications.

Conducts training and outreach with individual lenders throughout assigned areas to survey operations and meet with underwriters, processors, loan originators, and loan closers/shippers to ensure they are complying with laws, regulations, and all VA Home Loan program directives.

Completes post guaranty loan reviews and based on findings from the review, notifies mortgage lenders of technical errors, any actions necessary for correction, and makes recommendations of specific training needs.

Provides preliminary recommendation for Funding Fee refunds by researching computer systems and the Funding Fee Payment System (FFPS).

Maintains section registers, logs, feeder information, and other systems of records needed for quality control and reports. Establishes and maintains a diary system to ensure all required actions are completed in a timely manner.

Resolves problems, which occur with coding of loans into Loan Production computer systems while protecting data from unauthorized release, loss, alteration, or deletion.

Promotion Potential

The selectee may be promoted to the full performance level without further competition when all regulatory, qualification, and performance requirements are met. Selection at a lower grade level does not guarantee promotion to the full performance level. The grade progression for this position is GS-07, GS-09, and GS-11.

Work Schedule

Full time, Monday through Friday (8:00AM - 4:30PM local time)

Work Schedule Flexibility

Available

Telework

Available - This position is eligible for situational (ad hoc) telework only. The selectee is required to report to the official duty station each scheduled workday. Telework may be approved only on a case-by-case basis with supervisory approval. Routine or recurring telework is not authorized for this position.

Virtual Position

This is not a virtual position.

Position Description/PD#

Loan Specialist; Loan Assistant GS-07, PD#37715; Loan Specialist GS-09, PD#37729A, GS-11 PD#37730A

Relocation/Recruitment Incentives

Not Authorized.

Financial Disclosure Report

Not Required.