Mortgage Lending Processor I

EFCU Financial Federal Credit Union

Position Description

TITLE: Mortgage Lending Processor I

DEPARTMENT: Mortgage Lending

REPORTS TO: Senior Vice President of Mortgage Lending

SUPERVISES: N/A

FLSA STATUS: Non-Exempt

Purpose:

Answer questions from members on real estate loans and rates. Gather and analyze financial information on members for the purpose of determining qualifying status for mortgage loans, interview members for routine loans or obtaining additional information. Review and verify all loan documents for accuracy and completeness. Coordinates the mortgage lending closing process and ensures all documents meet government compliance standards and the Credit Unions Policies and Procedures. Process Conventional, Land, Welcome Home Mortgages. Train to process Federal Housing Administration (FHA), Veterans Affairs (VA), United States Department of Agriculture (USDA) mortgages. Perform various other duties that may be required by the Senior Vice President of Mortgage Lending.

Duties and Responsibilities:

1. Reviews loan applications on first mortgages submitted by Mortgage Lending Originator for any omitted information and completeness. Conduct loan interviews with members when necessary and request any additional information/documentation needed. 
2. Obtain and review all signed applicable disclosures for accuracy and to make sure they meet all federal/state, agency, and credit union regulations.
3. Lock loan in with investor according to loan specifics and current rate. Edit the lock if any change of circumstance occurs or any terms change.
4. Process loan application to include verification of employment, deposit accounts, and all liabilities. Ensure that loan has been submitted to automated underwriting system, if applicable. Make final changes and rerun for final automated approval. 
5. Check credit report to determine credit worthiness of applicant based on industry standards and EFCU Financial Policy.
6. Request appraisal from appraisal management company and evaluate real-estate appraisal to ensure proper guidelines are followed and final value is properly determined.
7. Request flood certification to determine if property is or is not in a flood zone.
8. Submit loan to the Senior Vice President of Mortgage Lending or investor underwriter as required by the specific loan program for underwriting and approval. Obtain any prior to closing conditions as required by the underwriter.
9. Obtain copy of current homeowner’s insurance and flood insurance (if applicable) and make sure mortgagee clause is in favor of Credit Union, also to verify that coverage is sufficient to satisfy secondary market requirements.
10. Order and review title work from attorney/title company to ensure clear title.
11. Verifies accuracy and consistency of specifications on documents, such as title abstract and insurance forms and deposit information. 
12. Work closely with all other teams in the Mortgage Lending Department and back-up one another as needed.
13. Schedules the closing between the borrower and the closing agent/title company.
14. Answers questions regarding closing requirements.
15. Cross-sell lending products and other Credit Union services when appropriate.
16. Assist in other assigned duties.

Minimum hourly rate: $18.00

Critical Knowledge Skill and Educational Requirements:

• High School Diploma or equivalent.
• Six months to two years of mortgage lending experience.
• Must be eligible to register with the Nationwide Mortgage Licensing System & Registry (NMLS) and must maintain registration with NMLS as a registered Mortgage Loan Originator (MLO).
• Strong loan documentation and regulatory compliance background is necessary including knowledge of title requirements.
• Knowledgeable of Regulatory Compliance Requirements of a Depository Financial Institution.
• Must be able to work accurately and efficiently in a fast-paced environment.
• Experience in good customer relations.
• Excellent telephone etiquette and verbal communication skills.
• Excellent interpersonal skills.
• Exceptional organizational skills.
• Must be dependable and reliable.
• Must pass all credit and bond requirements.
• In depth knowledge of Credit Union products and services is a plus.

Physical Requirements:

The physical demands described here are representative of those that must be met by a team member to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Normal office environment where there is little discomfort or exposure to hazards due to temperature, dust, noise, etc.
• While performing the duties of this position, the team member is regularly required to walk; use hands and fingers, reach with hands and arms.
• The team member consistently is required to stand and sit, view computer screen, talk and hear, and at times may lift/move up to 10 pounds.