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Mortgage Assumption Specialist

Tulsa, OK, US

Req ID: 50693 

Areas of Interest: Mortgage Operations 

BOK Financial (BOKF), Headquartered in Tulsa, Oklahoma, BOK Financial Corporation (NASDAQ: BOKF) is a top 25 U.S.-based financial services holding company with operations in ten states – Oklahoma, Texas, Arkansas, Arizona, Colorado, Kansas/Missouri, New Mexico, Nebraska and Wisconsin. The company began more than 100 years ago in Tulsa and has successfully diversified into a variety of industries, businesses and geographies.                  .

The Assumption Specialist (Portfolio Retention) is responsible for all activities related to the Assumption and Transfer of Ownership process of mortgage loans in the BOKF Mortgage portfolio; duties include collection of loan documentation and processing activities through Loan Origination System (LOS) and Servicing System; provide customers with assistance from mortgage loan application to closing; provide computer processing and computer input of information supplied on loan applications and assembly of completed documentation files.

  1. Serves as primary contact with all parties on loans to be Assumed/Transfer of Ownership; assist in obtaining information required to complete the assumption application; counsel potential borrowers on qualifying and non-qualifying assumptions; obtain all necessary support documents to meet assumption mortgage lending regulations to include Investor, RESPA, TRID, and HMDA guidelines; communicates all aspects of loan status to all parties involved and ensures close communication and coordination of loan in progress. Logs incoming documents into LOS and tracks development of information; completes analysis of application package and prepares file for approval; reviews underwriting commitment and prepares or obtains any additional required documentation; works closely with underwriting to resolve issues regarding declinations and/or complex issues relating to customer denials; ensures compliance with mortgage lending regulations.
  2. Assemble, prepare and verify closing documents during the finalization of the Assumption/Transfer of Ownership; coordinate all aspects of the closing process and ensures that all terms are met.; ensure that all documents are properly recorded and delivered.
  3. Update BOK Servicing System after Assumption closing/Transfer of Ownership with new borrower’s information; implement tasks in MSP to finalize process; update government systems to finalize Transfer of Ownership, if applicable; prepare letters after closing to buyer, seller, insurance company(s); confirm all documents in the Assumption/ Transfer of Ownership transaction are in Filenet (Document Management Repository).
  4. Process name change request within agency and regulatory guidelines

  • Thorough knowledge of mortgage loan documentation, underwriting, closing, and compliance requirements
  • Thorough knowledge of mortgage lending Assumption Guidelines and Regulations for all loan types. (FHA, VA, Conventional Fannie/Freddie and Private Investors)
  • Ability to apply sound credit risk principles and practices in making mortgage loan processing decisions in a timely and decisive manner.
  • In depth knowledge of mortgage origination, processing, underwriting procedures, policies, guidelines, regulations and compliance guidelines.
  • Thorough knowledge or credit, income and asset analysis.
  • Knowledge to ensure loan closing documentation comply with approved underwriting requirements and bank policy/procedures.
  • In depth knowledge of TRID guidelines
  • Excellent interpersonal skills, and oral and written communication skills
This level of knowledge is normally acquired through completion of an Associate’s Degree in Business or related field and 2-3 years related experience in mortgage loan origination or 5-6 years equivalent work related experience.

BOK Financial is a stable and financially strong organization that provides excellent training and development to support building the long term careers of our employees. With passion, skill and partnership you can make an impact on the success of the bank, our customers and your own career!

Apply today and take the first step towards your next career opportunity!
BOK Financial is an equal opportunity employer.  We are committed to providing equal employment opportunities for training, compensation, transfer, promotion and other aspects of employment for all qualified applicants and employees without regard to sex, race, color, religion, national origin, age, disability, sexual orientation, genetic information or veteran status.

Attention All Third Party Agencies, Headhunters, and Recruiters
BOK Financial and its Subsidiaries will not accept candidate submission by unsolicited third parties through this site or any company email address. All unsolicited candidates presented to BOK Financial and its Subsidiaries will be considered the property of BOK Financial. BOK Financial and its Subsidiaries will not be responsible for any fees associated with unsolicited candidates, nor will a contractual relationship be formed by the submission. BOK Financial and its Subsidiaries are not obligated and will not under any circumstances pay any fees to said third parties submitting candidates in this manner. BOK Financial and its Subsidiaries only forms contracts with recruiters with whom we have an established business relationship and with whom we have in place a signed agreement. All contact with BOK Financial and its Subsidiaries from third parties must be through our Human Resources Department. Any contact made outside of the BOK Financial Human Resources Department by a third party will cancel any future business relationships between the third party and BOK Financial.

Please contact with any questions. 


Investing in our talent and building a great workplace is a top priority at BOK Financial.

  • Empowered employees
  • Award-winning culture
  • Community commitment


BOK Financial is a regional banking powerhouse and one of the top 25 banks in the U.S. We are based in Tulsa, Oklahoma, and diversified in a variety of industries, businesses, and geographies throughout the U.S.


  • 4,900 employees
  • 27 Years of financial profitability
  • $30+ billion in assets
  • $5.2 million in charitable contributions in 2017

Nearest Major Market: Tulsa
Nearest Secondary Market: Oklahoma

Job Segment: Mortgage, Bank, Banking, Document Management, Finance, Technology

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