Mortgage Loan Processor

Job Summary

The credit union’s sole purpose is to provide quality service. Therefore, the highest priority of each employee is to give top-quality service to our members, prospective members, and staff, whether directly, or through the support of others. The mortgage loan processor will assist in this by answering 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. Provide member with applications, interview for routine loans or to obtain additional information, and set up appointments with mortgage loan officer. Collate, review, and verify a myriad of mortgage loan documents for accuracy for real estate transactions.

Responsibilities and Duties

• Reviews funded loan files for accuracy and completeness and ensures all liens are properly recorded.

• Process applications and verify accuracy for mortgage loans; conduct loan interviews with members when necessary. Follow-up with members to obtain any documentation. Provide all applicable disclosures.

• Process loan to include verification of employment, deposit accounts, and all liabilities in order to prepare application of verified information. Calculate closing costs and provide a loan estimate for closing costs to member.

• Request and evaluate real-estate appraisal to ensure proper guidelines are followed and final value is properly determined. Request flood certification to determine if property is or is not in a flood zone. Order title work and other required 3rd party services.

• Establish repayment and interest schedule based upon loan guidelines and rates. Prepare closing package, researching and resolving all items in the closing package to ensure closing process is on-time and documentation is complete and accurate. Obtain copy of current homeowner’s insurance, windstorm and flood insurance (if applicable) and ensure the mortgagee clause is in favor of credit union.

• Assists with Home Mortgage Disclosure Act (HMDA) LAR reporting to the Federal Reserve Board.

• Assists with setting up and on-going maintenance of escrow accounts.

• Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.

Qualifications and Skills

Experience: 

• Two years experience preferred, but not required. Excellent verbal, written communication, and time-management skills are a must as well as the ability to meet deadlines.

Education:

• High school degree or GED required.

Interpersonal Skills:

• A significant level of trust and diplomacy is required to be an effective subject matter expert in the position. In-depth dialogues, conversations and explanations with customers, direct and indirect reports and outside vendors of a sensitive and/or highly confidential nature is a normal part of the day-to-day experience. Communications can involve motivating, influencing, educating and/or advising others on matters of significance.