Mortgage Loan Processor-Experienced
Job Description Summary
As a Mortgage Loan Processor, you will manage mortgage loan files to acquire necessary documents in order to obtain a “Clear to Close” approval from the Underwriter. Further process file while working with Title Company to schedule closing in a timely fashion. After closing has been completed processor should ship file to appropriate investor and clear any pended items so that loan can be funded by investor.
Position Expectations & Responsibilities
- Process applications and verify accuracy for second mortgage open‐end and closed‐end loans; conduct loan interviews with members when necessary. Follow‐up with members to obtain any documentation.
- Provide all applicable disclosures for both fixed‐ and variable‐rate loans.
- Calculate closing costs and provide a good faith estimate for closing costs to members.
- Process loan to include verification of employment, deposit accounts, and all liabilities in order to prepare application of verified information.
- Order and check credit report to determine credit worthiness of applicant based on industry standards for collateral/equity value.
- Approve or deny second mortgage open‐end and closed‐end loan applications under authority delegated by policy.
- 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.
- Obtain copy of current homeowner’s insurance and flood insurance (if applicable) and make sure mortgage clause is in favor of credit union.
- 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.
- Performing document scanning and copying.
- Uploading relevant documents to Investor Partners.
- Facilitate effective communication with members and mortgage loan originators.
- Manage the preparation of Wire Forms and ensuring the verification of wiring
- instructions.
- Scan and deliver all final documents and closed files to Investor Partners/Wescom.
- Prepare payoff statements.
- Execute designated portions of Mortgage releases.
- Responsible for tracking and logging insurance information.
- Assist with miscellaneous tasks from Loan origination through post closing.
Position Expectations & Responsibilities
- 2-3 years of proven experience as mortgage loan processor or similar position
- Understanding of loan underwriting and processing procedures
- Knowledge of legislation and best practices
- Proficient in mortgage loan computer software (e.g. Calyx Point)
- Outstanding communication and customer service skills
- Excellent attention to detail
- Well-organized and able to handle pressure
- Basic Math skills
- High school diploma
Job Type: Full-time
Pay: $35,000.00 - $57,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Flexible spending account
- Health insurance
- Life insurance
- Paid time off
- Parental leave
- Retirement plan
- Tuition reimbursement
- Vision insurance
Experience:
- Microsoft Office: 1 year (Preferred)
- Customer Service: 3 years (Preferred)
Work Location: In person
