Position: Mortgage Loan Processor
Reporting to: Mortgage Loan Officer
The following essential responsibilities are driven by our mission: to foster economic justice in Syracuse, NY by connecting all people with capital and banking services, especially in communities that have been unjustly excluded from wealth.
Job Responsibilities:
Essential Duties & Responsibilities:
1. Assist members with the loan application process, explain the loan process, and answer member questions during the loan process to ensure completeness of information
2. Intake of loan applications in-person, over the phone, or electronically. Advise applicants about the credit union's mortgage loan products.
3. Provide all applicable disclosures.
4. Calculate closing costs and provide a good faith estimate for closing costs to members.
5. Process loan to include verification of employment, deposit accounts, and all liabilities in order to prepare application of verified information.
6. Order credit report. Request flood certification to identify if property is or is not in a flood zone.
7. Perform various preliminary reviews on loan files such as title reports, flood determinations, hazard binders and appraisals.
8. Order and review appraisals, following credit union policy.
9. Order title work from attorney.
10. Establish repayment and interest schedule based upon loan guidelines and rates.
11. Prepare mortgage loan application and document packet for closing, research and resolving all items in the closing package to ensure closing process is on-time and documentation is complete and accurate.
12. Coordinate with appropriate parties to ensure closing deadlines are met per purchase contract, grant funding sources, etc.
13. Complete execution of security interest of credit union; ensure that the documentation on titles is accurate and up-to-date
14. Perform Quality Control on credit/underwriting documents and closing documents, using established procedures and checklists.
15. Participate in all Lending Department training to ensure updated knowledge on credit union policy, procedures, guidelines, secondary market investor guidelines, PMI guidelines, and any applicable laws and regulations.
16. Maintain mortgage loan pipeline reporting; prepare approved loans report for the Credit Committee and other review. Meet with the Credit Committee as required.
17. Actively participate in mortgage and financial education/outreach activities including workshops, community events, and other sponsored initiatives.
18. Field audit and exam requests for files; organize files and ensure all documentation is complete and provided.
General Functions:
1. Become familiar with the credit union’s products and services especially mortgages, home ownership advising, credit counseling, and credit builder loans. As appropriate, refer people to the credit union for these services.
2. Attend department meetings and contribute to the credit union’s mission.
3. Write or update procedures for all tasks in areas of responsibility.
4. Make suggestions to management on ways to improve work processes.
5. Support management in the implementation of board policies and directives.
Required Skills:
1. Must have strong organizational skills and attention to detail
2. Must have excellent interpersonal, organizational and communication skills
3. Ability to work well in a culturally diverse environment.
4. Must have or develop thorough knowledge of mortgage processing functions, specifically loan documentation and collateral requirements;
5. Ability to research and compile information for the purpose of formulating recommendations
6. Proficient in PC, math and analytical skills
7. Ability to work both independently and as a team member
8. Strong computer skills, specifically Microsoft Word, Access, and Excel, and must develop proficiency in the credit union core system software.
9. Project management experience preferred.
10. Must pass Mortgage Loan Officer background check and be able to register with Nationwide Mortgage Licensing System
Physical Requirements
These physical requirements are representative of what is necessary for an employee to successfully perform the essential functions of the Mortgage Loan Processor position. Reasonable accommodation can be made to enable people to perform the described essential functions.
1. The Mortgage Loan Processor is often required to sit, to stand, to walk, to climb stairs, to use their hands and fingers, and to reach with arms and hands.
2. The Mortgage Loan Processor is required to listen and to give spoken presentations.
3. The employee is occasionally required to lift and carry up to 35 lbs.
Pay: $22.00 - $23.75 per hour
Work Location: In person
