Summary:
The Processor is responsible for assembling and managing the preparation of USDA RHS 538 GRRHP Guarantee Applications, coordinating with third-party contractors, maintaining comprehensive project files, and ensuring all documentation meets both Bellwether Enterprise and Rural Development requirements. This role works closely with the USDA Chief Underwriter, Department Director, Underwriters, and various third-party contractors throughout the loan processing lifecycle.
Major Responsibilities:
Initial Loan Processing
Receive and review "Submission Packages" from Loan Originators or Program Directors
Begin collecting information needed for Pre-Engagement underwriting and Guarantee Application preparation
Coordinate with assigned Underwriters to ensure smooth project handoff
Third-Party Report Management
Collect and evaluate bids from approved third-party contractors including: Market Study providers, Appraisers, Environmental Report/Assessment companies, Capital Needs Assessment firms (for substantial rehabilitation projects), Plan and cost review consultants (as required)
Prepare and send engagement letters to selected third-party contractors, specifying report type, cost, and due dates
Maintain ongoing communication with third parties throughout the process
Ensure timely payment of all third-party reports upon receipt and approval
Review contractor qualifications and assist with approval process when borrowers suggest specific contractors
Environmental Review Coordination
Coordinate environmental assessment processes per RD Instruction 1970
Ensure report providers contact appropriate agencies for consultation
Work with environmental report providers, borrowers, and USDA offices to ensure timely review and approval
Track FONSI (Finding of No Significant Impact) publication requirements
Obtain and submit Affidavits of Publication
Monitor public comment periods and environmental review closeout
Documentation and File Management
Distribute comprehensive checklists containing all Pre-Engagement and Guarantee Application requirements to borrowers
Schedule and coordinate kick-off calls with borrowers to review required documentation
Distribute instructional documents (USDA construction requirements, Management Plan requirements, signature files, etc.)
Review all received forms and documentation for completeness and accuracy
Update the 538 Checklist (Word document) periodically (generally weekly) and distribute to clients
Maintain organized working Project Files including: Worksheets and Application documents, Correspondence, Third-party reports, Files organized by project stages: Origination, GRRHP Response, Guarantee Application, and Closing
Assemble final Guarantee Application with properly organized exhibit tabs, bookmarks, and exhibit memos
Maintain internal processing checklist (Microsoft Excel) to track progress
Guarantee Application Preparation
Prepare Guarantee Application in accordance with USDA RHS 538 GRRHP Handbook 1-3565, Attachment 4-A
Ensure all documentation supports project feasibility and eligibility
Create separate PDF files for each exhibit tab with appropriate bookmarking and organization
Prepare Table of Contents, Binder Cover, and Cover Letter
Work with templates available in shared drive for completing required Bellwether Enterprise documents
Quality Control and Compliance
Conduct preliminary reviews of all forms and documentation from borrowers, developers, contractors, architects, and management companies
Ensure compliance with RHS 538 GRRHP and Bellwether Enterprise Real Estate Capital LLC requirements
Review and verify specific documentation including: Affirmative Fair Housing Marketing Plans, Management Plans and Agreements, Appraisals, Market Studies
Forward initial reviews to USDA Chief Underwriter for approval
Submit comments to appropriate parties for documentation that doesn't meet requirements or contains errors
Minimum Requirements:
(experience, education, ksa)
Two (2) years of experience in mortgage loan processing or a commensurate field preferred.
Previous Freddie Mac and Fannie Mae multi-family experience is a plus.
High school diploma or equivalent required.
College degree a plus and may be used as a substitute for previous experience with mortgage loan processing.
Extensive PC skills including Microsoft Office Excel, Word, PowerPoint, and Acrobat.
Ability to operate effectively in a team environment and work independently.
Ability to meet deadlines and work in a fast-paced environment.
Demonstrated track record of multitasking.
Excellent written and verbal communication.
Priority on attention to detail.
We encourage you to explore the career opportunities we have available here at BWE!