Under general supervision, the Mortgage Loan Processor reviews and gathers documentation, verifies information, and orders loan-related documents to submit for underwriting of mortgage loans within UFCU and industry guidelines. The Mortgage Loan Processor assumes primary responsibility for the loan file and loan documentation from the receipt of the file through closing.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Relative Weight (in %; all functions’ total should = 100%)
Essential Function Description
Loan File and Documentation:
Evaluates loan applications and accompanying documentation to determine compliance with Automated Underwriting results and guidelines within 24-48 of receipt of the loan file.
Reviews and verifies employment information and collects necessary documentation.
Reviews financial documents and updates file accordingly.
Thorough review of credit report.
Collects and reviews all supporting documentation required.
Communicates with member regarding documentation needed to process the loan and maintain effective follow up to ensure receipt of needed documents.
Process a high-volume of loans in a timely manner while meeting all legal and procedural requirements.
Ensures all due diligence and financial and property evaluation is complete and thorough before submitting for underwriting approval.
Meets with members if necessary to receive documents, answer questions about the progress of loan processes, and coordinate closing.
Evaluates appraisals for accuracy of key points including: appraised value, borrower and seller names, property address, repairs needed if any, etc.
Orders Property information including Title, Flood Certification, and insurance information.
Reviews Title for valid ownership, chain of title, taxes, liens, judgments, and current mortgage holder including 2nd mortgages.
Ensures all property evaluation is complete and thorough before inclusion in loan file and submission for underwriting approval.
Ensures closed files are notated correctly according to RESPA, TRID and HMDA requirements, in addition to other applicable requirements.
Communicates directly with borrowers, REALTORS, title companies and insurance companies to ensure that loans close in a timely manner.
Works collaboratively with loan officers, underwriter and closers to resolve problems and find solutions to underwriting issues or requirements to meet close dates.
Displays a commitment to excellent member service and strong interpersonal skills by building and maintaining positive relationships with various vendors, Realtors and team members.
Exhibits superb written and verbal communication skills.
Follows up with key individuals immediately (within 24 hours) to resolve problems and/or respond to inquiries.
May seek assistance for more complex issues.
Maintains complete and accurate information within the Loan Origination System and conversation log while effectively managing a high-volume of loans.
Demonstrates a commitment to working effectively as a team and to ongoing self-development:
Stay up-to-date on all current, applicable industry standards.
Continually find opportunities for ongoing professional growth and learning.
Proactively find ways to support the Mortgage Service’s departmental goals and work collaboratively with co-workers.
Effectively manage time and resources.
Performs other duties as assigned.
Adhere to all company policies, procedures and business ethics codes.
Maintain strict adherence and compliance to all laws, rules, regulations, policies, procedures and internal controls specific to your role.
High School Diploma or equivalent required.
Bachelor’s degree or some related college coursework preferred.
Minimum of one (1) year of mortgage loan processing experience preferred.
Prior credit union experience preferred.
Specialized Knowledge, Licenses, Certifications, etc.
Familiarity with current mortgage lending laws and regulations, understanding of documentation relating to residential real estate lending and conventional financing, and/or familiarity with credit union philosophies and practices preferred.
Knowledgeable of all aspects of the federal and state regulations dealing with Mortgage and Home Equity lending.
Familiar with mortgage lending file organization and the related documentation associated with mortgage files.
Well-developed ability to manage multiple tasks/projects and deadlines simultaneously.
Basic knowledge of the mortgage process, documentation, requirements; governmental and agency requirements; and terminology.
Strong verbal and written communication skills.
Superior customer service skills are essential.
Ability to consistently and effectively make evaluative judgments.
Bilingual in Spanish preferred.
Must be bondable.
The physical demands described here are representative of those that must be met by an employee in order to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle or feel; reach with hands and arms; and talk or hear.
Specific vision abilities required by this job include close vision, distance vision, peripheral vision and ability to adjust focus.
The employee is frequently required to stand and walk.
Employee will make extensive use of the telephone requiring the ability to effectively and accurately explain complex information.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
This position may involve periodic stressful conditions.
This position has direct exposure to possible robbery.
May occasionally require an adjusted work schedule, overtime, and evening/weekend hours.
May occasionally move from one work location/branch to another.
Public contact position, requiring appropriate professional appearance.
Frequent computer use at a workstation up to two hours at a time.
The noise level in the work environment is usually moderate.
CRITICAL JOB COMPETENCIES
UFCU Core Competencies. In addition to fulfilling the position’s Essential Duties and Responsibilities, an individual must demonstrate UFCU’s Core Competencies:
Leading & Developing Self
Nothing in this job description restricts management from changing any or all parts of the job description at any time.