Mortgage Loan Processor

Description

Serve as a liaison between the member, Mortgage Loan Representative and the credit union or client. Responsible for processing mortgage loan applications received from Loan Representatives and coordinating services with third party contractors in order to complete the mortgage loan. Preparing initial mortgage loan disclosure and preparing mortgage loan closing documentation in compliance with regulations.

Major Duties And Responsibilities

• Gather background information on loan applications, researching any discrepancies.
• Order appraisals, title work, flood certifications, credit reports and other items as necessary to process a mortgage loan together with monitoring timely receipt.
• Prepare initial mortgage loan disclosure documents within regulatory timeline.
• Initial review of HMDA entries for accuracy and completeness.
• Accurately update mortgage loan tracking records.
• Verify employment, assets and credit history of persons applying for loans.
• Review title work to ensure lien and ownership information is acceptable.
• Review appraisal and flood certificates to ensure value and location meet loan requirements.
• Send out credit notices to spouses when necessary.
• Stack, review and submit completed files to underwriting department.
• Coordinate with Mortgage Loan Representatives to gather and clear underwriting conditions.
• Audit physical and electronic file for completeness and compliance.
• Prepare loan closing documents.
• Balance mortgage loan closings and prepare loan closing documents within regulatory timeline.
• Purge loan files by destroying out-of-date or unnecessary loan documents.
• Ensure documents are maintained and stored in compliance with policies and regulations.
• Keeps abreast of changes in policies and procedures, standards and regulations applicable to MCU and the mortgage industry.
  
  

Experience

• 1+ years mortgage loan processing experience desired - we'll train the right person!
• Experience of consumer and commercial loan processes a plus.
• Ability to research to determine incomplete, inaccurate, or missing information.
• Professional communication skills, both written and verbal.
• Strong attention to detail, with the ability to follow process and maintain a consistent standard of quality.
• Exceptional customer service skills, both internally and externally.
  

Education: High School Diploma. Associate's College Degree in Finance, Business, Math, Accounting or related field a plus. Certifications related to Lending and Loan Processing desirable.

Physical Requirements (with Or Without Accommodation)

Must be able to sit for extended periods of time, be able to lift 15 pounds frequently, and do repetitive tasks. Ability to verbally communicate in person and by telephone is required.

This job description is not a complete statement of all duties and responsibilities comprising this position.