Mortgage Loan Processing and Closing Specialist

Description

Job Title: Mortgage Loan Processing and Closing Specialist

FLSA: Non-Exempt

Function: Mortgage Lending

Reports To: Mortgage Operations Manager

Purpose: The Mortgage Loan Processing and Closing Specialist manages various mortgage applications, ensuring accuracy and compliance. Educate members on Credit Union products and services, coordinate with relevant parties, and provide exceptional member experience. Perform administrative tasks, prepare closing packages, and maintain knowledge of procedures to ensure compliance with market requirements.

Responsibilities:

• Collect personal and financial information from members, actively listen to identify opportunities to answer questions, educate, and find solutions to meet their needs
• Review and analyze member mortgage loan applications and supporting documents for completeness and accuracy
• Order appraisals, title commitments, IRS tax transcripts, verifications, loan payoffs, and other third-party items needed for loan approval
• Review AUS Findings (if applicable) and prepare member loan files for underwriting review
• Communicate effectively with members, loan officers, underwriters, and vendors to ensure a positive experience and timely progression of the loan process
• Review conditional approvals from underwriting and allocate responsibility for obtaining required conditions accordingly
• Monitor and balance a large pipeline while regularly informing members and appropriate staff of the loan status
• Accurately prepare and deliver preliminary Closing Disclosures to members within compliant time limits as set forth by the CFPB
• Coordinate with members and title companies to set closing dates and times
• Review loan approval, product, pricing, escrows, title, appraisal, and flood certificates, ensuring all terms are met and compliant with State and Federal guidelines
• Monitor and balance a large pipeline while regularly
• Accurately prepare and deliver preliminary Closing Disclosures to members within compliant time periods as set forth by the CFPB
• Coordinate with members and title companies to set closing dates and times
• Review conditional approvals from underwriting and allocate responsibility for obtaining required conditions
• Run and verify FNMA UCD, FNMA Early Check, and FHLMC Loan Advisor at the time of closing
• Balance files with title companies, ensuring sales contract terms and third-party charges are accounted for in the final Closing Disclosure
• Initiate wire requests for funding and review builder’s construction draw requests
• Resolve loan deficiency requests from Post-Closing and Quality Control
• Stay knowledgeable about mortgage industry aspects, including secondary market guidelines, investor guidelines, and regulatory compliance
• Maintain a solid understanding of Credit Union policies, NCUA rules, and regulations, and complete all required training in a timely manner
• Ensure compliance with the Bank Secrecy Act, OFAC, and USA Patriot Act, including CIP, customer due diligence, identifying high-risk accounts, and reporting suspicious activities
• Promote and maintain confidentiality to protect members, employees, and Credit Union information
• Exemplify the Credit Union’s core purpose and values, creating and promoting a positive professional image
• Support the Credit Union’s focus on membership, consistently delivering on the service promise to all members

Perform all other duties as assigned

Requirements

Education and Experience:

• A two-year college degree, or job specific skills acquired through an apprenticeship program or completion of specialized training courses.
• One to three years of experience as a mortgage loan processor, mortgage loan closer or title escrow agent required.
• Financial services experience desired.
• Service experience desired.

Skills, Abilities and Other Requirements:

• Strong computer and application skills.
• Effective communication skills including verbal, written, and grammar skills.
• Ability to be bonded required.
• Ability to be registered under the SAFE Act required.
• Ability to successfully organize, prioritize, and manage multiple responsibilities.
• Ability to keep up with a busy workflow.
• Ability to sit for extended periods of time.
• Ability to perform repetitive tasks.
• Light lifting (up to 25lbs).
• Team player with a positive attitude and the ability to be agile and flexible as priorities change.
• Professional demeanor and personal accountability.