Responsible for all mortgage loan processing activities with proper documentation for compliance with Investor Underwriting guidelines. Receives, evaluates, and reviews loan applications for completeness, accuracy. Obtains and verifies necessary information and prepares documents for underwriting and timely settlement closing. Coordinates and Communicates loan status to all involved parties including loan officer, buyer, seller, realtor, and title company representatives for Real Estate Contract deadlines and Lock Expiration. Responsible for providing a broad range of member service functions including resolution of member and real estate agent concerns, ensuring issues are promptly resolved, referring members and more complex issues to appropriate parties as needed. Responsible for managing and maintaining a full processing pipeline and meeting deadlines is required
1. Assumes responsibility for providing effective support for all phases of mortgage loan processing activities.
a. Reviews new loan applications.
b. Prepares and issues prequalification letters for borrowers if requested.
c. Ensures appraisals, credit reports, mortgage insurance, title reports and all applicable documentation meets underwriting guidelines, verifies employment, salary, assets and liabilities. Resubmits validated loans to automated underwriting system for final approval.
d. Resolves loan application problems. Assists applicants with addressing credit report problems, low appraisals, low salary levels, and high debt ratios.
e. Reviews information for completeness and accuracy. Clarifies missing or questionable information. Follows up with outside sources of outstanding documents. Ensures that all necessary items are available for underwriting. Tracks development of information to ensure compliance with underwriting guidelines. Resolves conditions of underwriting. Submits loans to U/W for final approval.
f. Communicates status of loans to loan officer, member, buyer, seller, realtor and title company.
g. Prepares and coordinates files for closing. Checks current PR, appraisal, and interest rate lock. Obtains records for homeowner's insurance and flood certification.
h. Reviews weekly pipeline and status report for accuracy.
i. Prepares miscellaneous correspondence and records.
j. Ensures program investor updates are reviewed timely.
2. Assumes responsibility for establishing and maintaining professional business relationships with members and mortgage professionals.
a. Resolves (or refers) requests and problems promptly and courteously. Answers member loan questions regarding applications in the process of approval.
b. Keeps loan officer, members and realtors properly informed of Credit Union policies and procedures. Notifies members of additional information required.
c. Maintains and conveys the Credit Union's professional reputation.
d. Meets time line deadlines for lock expirations, closing and funding dates.
3. Assumes responsibility for establishing and maintaining effective coordination and communication with Branch or department team members.
a. Assists and supports Credit Union personnel as needed.
b. Completes reports and records promptly and accurately.
c. Attends meetings and training, as required.
d. Keeps management informed of area activities and of any significant problems.
4. Assumes resposibility for related a required or assigned.
a. Performs miscellaneous clerical and mortgage related functions as needed.
b. Keeps work area clean, secure, and well maintained.
c. Provides support and coverage for Mortgage Processing personnel as required.
- Understanding of mortgage loan processing functions, including FHA/VA and conventional lending.
- Knowledge of related requirements, procedures, and underwriting criteria.
-Certified in both conventional purchase and refinance loan transactions.
-Certified in at least one government loan product
-Knowledge of Jumbo, USDA and NV Housing or Construction products
-Minimum of one-year purchase transaction experience.
-Recommendation from Team Lead
-Work must be above standards for productivity, accuracy, quality, efficiency and service
-Demonstrates accountability, reliability, positive attitude and ability to work cohesively and communicate effectively with credit union personnel
-Independently navigates through mortgage systems
-Skill and knowledge assessment review meets acceptable standards
-Advanced problem-solving skills, ability to handle more complex loan types and escalated issues
-Courtesy, member service and tact in communicating
-Willing attitude to complete assigned tasks- Well organized.
-Ability to handle multiple tasks efficiently and meet deadlines.