Job purpose

Under the supervision of the Vice President of Lending, the Mortgage Loan Processor processes Home Equity & HELOC Loans in a timely and accurate basis while providing a consistently high level of quality service to members and potential members. They prepare, analyze, process, and document all required forms and documentations for Home Equity loan products, and help with borrowers' questions on first mortgages and the first mortgage process. They provide member and departmental support for all aspects of mortgage loan processing within the Credit Union and handle all member transactions with complete discretion and confidentiality.

Duties and responsibilities

• Interviews prospective loan applicants and assists them in finding the best loan products for their needs.
• Works with the borrower to gather financial information such as credit reports, verify the accuracy to determine creditworthiness, and complete the mortgage loan application.
• Order property and loan documentation such as automated values, title searches, flood certificates, property condition reports, and initial disclosures.
• Answers questions from members throughout the loan process, and explains the process to include insurance required, loan policies, interest rates, payoffs, etc.
• Gather all required information and documentation to secure a mortgage loan.
• Verifies contents and completion of loan folders and inputs into the loan underwriting system.
• Maintains a filing system and procedures to monitor that the required documentation is received in a timely manner and maintained appropriately and according to policies and procedures.
• Ensure loan files meet lending and regulatory guidelines.
• Prepare and submit detailed loan packages to the underwriters for approval or denial.
• Prepares closing documents and closes approved mortgage loans; completes all necessary loan documents to close the file; gathers all payoff information, sends out payments, orders checks for Lines of Credit loans and all other related documents to bring to completion.
• Informs members of other credit union products and services, explaining features and benefits; and cross-sells products and services when appropriate and within scope of responsibility.
• Backups other positions within the Consumer and Loan Servicing Departments as required.
• Cross-train in all areas of the Consumer/Loan Origination Department
• Participate in activities that help reinforce our PICK US values and support a positive internal culture.
• Attends training sessions upon request.
• Adheres to the Credit Union's anti-money laundering and Bank Secrecy Act policies and procedures.
• Assumes other duties as new products, services, or technology are introduced.
• Note: The above is a description of the ordinary and essential duties of the position. Other duties both related and unrelated to the above may be assigned and therefore required.

Qualifications

• Professional and pleasant interpersonal and communication skills.
• Position requires general knowledge of all Credit union products and services and specific knowledge of the mortgage lending policies and procedures well as credit procedures.
• Requires education equivalent to a four-year high school education. Additional coursework in mortgage products or equivalent experience is preferred. Proficiency with computer software applications including Word and system applications is required.
• Position requires three years of experience in the lending department of a bank, credit union; or a mortgage company with more specialized experience in mortgage processing along with knowledge of automated underwriting platforms.
• Position requires the ability to read and interpret documents such as government regulations, operating instructions, and procedure manuals. Ability to effectively communicate with members, employees, attorneys, and vendors. Ability to solve practical problems and deal with a variety of variables in situations where standardization exists.
• Intermediate mathematical skill required (adding, subtracting, multiplying, dividing, percentages, interest) are required.

Working conditions

Must be able to routinely perform indoors in climate-controlled shared work area with minimal noise. At times having to interact with difficult members.

Physical requirements

While performing the essential duties of the position, the employee would be regularly required to stand, sit, walk, stoop, kneel, talk, and hear. Vision requirements include close vision and the ability to focus. The nature of this position requires physical mobility and the ability to occasionally lift and/or move a maximum of 25 pounds.

Direct reports

None