The Mortgage Loan Processor is responsible for processing of all mortgage-related loans and member contact for first and second mortgages. Conveys mortgage policies for extension of credit in accordance with credit union and secondary investor guidelines. Meets Mortgage Loan scheduling and documentation requirements and production expectations as determined by the AVP Lending Operations. Serves members, prospective members, builders, developers, and realtors promptly and professionally. Provides general credit union information and cross-sells services.
Duties and Responsibilities:
- Provides email and phone support with members and colleagues on service questions and issues.
- Assists in developing and updating policies and procedures.
- Responsible for meeting department production goals and standards.
- Seeks improved methods and functionality for all services provided.
- Ensures that the application package is complete: ensures that every section of the application is completely filled out, and verifies that all supporting documents are included.
- When a loan application is submitted, the processor enters information into the loan tracking system. The processor must make sure that all information is entered and accurate, especially if that system is used in decision making. The processor also uses various online vendors to carry out credit checks, flood determinations, and property searches and determine tax statuses, among other important factors. The processor must be able to accurately use all of these processing systems in preparing the loan for underwriting.
- Works with the member to gather information, including employment situation, salary, assets, financial status, current debts, and current expenses.
- Provides assistance to the member as necessary to obtain the required information and to provide the member with outstanding service that will engender a longstanding relationship.
- Assists underwriter and closer as needed.
- Determines and presents principal amount, interest rate, and closing cost to members.
- Coordinates with real estate agents, financial institutions, loan officers, etc., to collect documents required for closing.
- May fund loan.
- Complies with all policies and procedures as applied to the credit union’s BSA/AML policy.
- Provides assistance for investor sales, transfers, post-closing reviews, and fundings.
- Responsible for attending mortgage quality and compliance related training sessions as directed by the Manager.
- Has knowledge of lending compliance requirements (RESPA, REG B, TRID, HMDA) and general knowledge of conventional and government loans available to the consumer.
- Contributes to department goals by undertaking other duties and/or projects as required.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily, and comply with all federal and state regulations, and internal credit union policies and procedures. The qualifications below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
No supervisory responsibilities.
The position requires the ability to read and interpret documents, along with the ability to write routine reports and correspondence. The incumbent must possess the ability to speak effectively in one-on-one groups or large groups and the ability to respond to inquiries or complaints in a professional manner.
The incumbent should possess the ability to work with mathematical concepts such as probability and statistical inference. The individual should also be able to apply concepts such as fractions, percentages, ratios, and proportions to credit union situations.
Must have the ability to define problems, collect data, establish facts and draw valid conclusions. Ability to interpret a variety of complex instructions furnished in written, oral, diagram, or schedule form.
The position requires strong experience with Mortgage Loan Origination systems such as Encompass 360 HMDA Reporting, Credit Union Core systems, and Microsoft Word, Excel, and PowerPoint.
- Associate degree required, BA/BS is preferred..
- Minimum of 3 years of financial services experience, including specific responsibilities for mortgage originations. Familiarity with federal and state banking statutes and regulations.
- One year of experience in a quality assurance-related role preferred.
- Knowledge of the mortgage industry’s primary and secondary markets preferred.
- Calyx Point experience preferred.
- Excellent interpersonal, communication, and motivational skills required.