Job Description:
To process first mortgage loan applications for all residential and land loans to ensure compliance with secondary market and Virginia Credit Union (VACU) corporate policies and procedures.
JOB DUTIES AND RESPONSIBILITIES:
Member Service
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Provide quality member service to meet the standards set by Mortgage Lending management and the Member Experience team.
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Assist mortgage loan officer with member communication from initial application through closing to ensure a smooth mortgage process. As necessary communicate with the member regarding application status.
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As needed, communicate with members regarding application status, (approval, denial, additional documentation, etc.). Prepare and mail loan documents including approval letters, etc.
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Communicate with mortgage loan officers, underwriting, and closing about file status and issues/concerns with the loan.
Processing Duties
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Process all full documentation loans (purchase and refinance) specializing in Fannie Mae, conventional mortgages.
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Review, calculate and prepare loan documentation necessary to prepare the loan for underwriting. (i.e. income documents, bank statements, credit reports, employment history, underwriting reports, reserves, cash to close and federal government exclusionary lists).
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Maintain an excellent understanding of investor and Virginia Credit Union (VACU) requirements for a variety of loan products including conventional (traditional and non-traditional) and government lending.
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Maintain an understanding of state specific loan and closing traditions to insure that loans close on time.
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For converted pre-approval loans, prepare files for submission to underwriting and closing to ensure that the application meets secondary market standards or VACU guidelines.
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Update mortgage loan origination system on a timely basis.
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Assist with the preparation and scheduling of residential loan closings.
Compliance
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Comply with Regulations B, C, X and Z regarding the completion, preparation, issuance and delivery of required disclosures including, but not limited to, the Good Faith Estimate, Truth in Lending, Potential Transfer of Servicing and Adverse Action forms. Also included are compliance with FACT and FDPA (Flood).
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Insure data integrity and accuracy of all loans as measured by the number and severity of audit exceptions reported monthly by external and internal audit teams.
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Comply with all published enterprise level policies and procedures including, but not limited to, Risk Management policies.
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Complete all required, ongoing enterprise level training including, but not limited to BSA, OFAC, and Information Security.
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Report all Risk Management Policy violations in accordance with policy.
- Maintain excellent working relationships with Sales, Processing, Underwriting, and Closing team members.
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Comply with all published enterprise level policies and procedures including, but not limited to, Risk Management policies.
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Complete all required, ongoing enterprise level training including, but not limited to BSA, OFAC, and Information Security.
Other
Assists in the following:
o Assist with testing the mortgage loan origination system new product and program releases and updates/upgrades as needed.
o Assist management to investigate audit exceptions and formulate responses.
o Assists Post Closing in obtaining outstanding documentation for all closed mortgage loans
o Contributes towards team and departmental goals
o Other duties may be required and assigned.
Comments:
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Typical work hours M-F 8:00 to 5:00 or 9:00 to 6:00
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Overtime and/or Saturday hours may be required.
Job Qualifications:
Minimum Education and Experience
High School graduate. Prior residential mortgage origination experience (conventional and government) preferred. Prior experience that demonstrates proficiency in processing conventional mortgages, including refinances and purchase.
Knowledge, Skills, and Abilities
Candidate should have a working knowledge of conventional residential mortgage guidelines, products and terms. Knowledge of government related mortgage guidelines is preferred. Strong oral and written communication skills combined with the ability to make sound decisions. Ability to work in a deadline oriented environment. Must have strong problem solving and excellent organizational skills.
Desirable Traits:
Must have good problem solving, stress management and excellent organizational skills. Must be detailed oriented. Must be a team player. Must be able to interpret VACU and FNMA origination policies, products, and an understanding of Rate Lock policy. Computer experience preferred but not required.
PHYSICAL REQUIREMENTS:
PHYSICAL REQUIREMENTS:
This job requires the ability to sit for long periods of time.
This job requires infrequent lifting or carrying of objects up to 10 pounds.
