Examine mortgage loan documents

Examine documents from mortgage borrowers or from financial institutions, such as banks or credit unions, relating to a loan secured on a property in order to examine the payment history of the loan, the financial state of the bank or borrower, and other relevant information in order to assess the further course of action.

examine homeowner’s loan documents
examine loan contract documents
examine debt documents
examine debt contract documents

skill/competence

cross-sector

Examine mortgage loan documents is an essential skill of the following occupations:

Foreclosure specialist: Foreclosure specialists revise documentation related to properties that are under foreclosure. They assist clients whose property has been reclaimed by banks due to non-payment of their mortgage by assessing the owner’s possibilities for saving the property.
Mortgage broker: Mortgage brokers handle mortgage loan applications from clients, collect loan documentation and search for new mortgage lending opportunities. They complete and close mortgage loan processes for their clients.
Mortgage loan underwriter: Mortgage loan underwriters ensure compliance with underwriter guidelines. They participate in the implementation of new underwriting guidelines. They also review closed and denied loans.
Title closer: Title closers handle and investigate all documentation needed for a property sale including the contracts, settlement statements, mortgages, title insurance policies, etc. They ensure compliance with legal requirements and review all the fees related to the real estate sales process.

Examine mortgage loan documents is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Property insurance underwriter: Property insurance underwriters assess and determine the risk and coverage of a client’s property insurance. They analyse and review underwriting policies according to legal regulations.
Loan officer: Loan officers assess and authorise the approval of loan applications for individuals and businesses. They ensure complete transactions between loan organisations, borrowers, and sellers. Loan officers are specialists in consumer, mortgage, or commercial lending.
Real estate agent: Real estate agents administer the sales or letting process of residential, commercial properties or land on behalf of their clients. They investigate the property’s condition and assess its value in order to offer the best price to their clients. They negotiate, compose a sales contract or a rental contract and liaise with third parties in order to realize the stated objectives during transactions. They undertake research to determine the legality of a property sale before it is sold and make sure the transaction is not subject to any disputes or restrictions.
Conveyance clerk: Conveyance clerks provide services for the legal transference of legal titles and properties from one party to another. They exchange the necessary contracts and ensure all properties, titles and rights are transfered.
Notary: Notaries ensure the authenticity and legitimacy of official documents such as declarations, certificates, contracts, deeds and purchases. They examine the documents, witness the signing and authenticate them. They administer oaths and affirmations and perform other acts of notarisation.

References

1. Examine mortgage loan documents – ESCO