Apply on Employer Site

Raiz Federal Credit Union · 4 months ago

Mortgage Loan Processor II

El Paso, TX, USA

Full-time

Onsite

Mid Level

$19.31/hr - $28.96/hr

3+ years exp

Raiz Federal Credit Union is dedicated to guiding its members towards financial growth and stability. The Mortgage Loan Processor II will play a key role in assisting members with mortgage loan processing, ensuring compliance with regulations, and providing exceptional service throughout the loan process.

Credit CardsFinanceFinancial Services

Responsibilities

Examine all loan applications and disclosures for discrepancies and ascertain all the information is true and consistent with credit union policies and guidelines

Review and analyze borrower documentation to determine income, repayment capacity for self-employed borrowers. Perform due diligence to identify possible fraudulent activity

Ability to Multi task, process, audit and maintenance all closed mortgage loan files

Communicate with Loan Officers and members to ensure member needs are met, provide them with overview of the process and inform the Loan Officer of information necessary to process loan

Strong understanding of various mortgage documents such as Uniform Residential Loan Application (URLA), Underwriter Transmittal Summary, Loan Product Advisor (LPA), Desktop Underwriter (DU); Ability to read and interpret such documents

Welcome call and welcome letter to the borrower within 24 hours of file being assigned

Insure initial Loan Estimate is complete and accurate and follow compliance guidelines. This includes review of change of circumstance, redisclosures, and updated lock rate form pursuant to TILA RESPA Integrated Disclosure (TRID)

Ability to read and interpret purchase agreements, draw schedules, surveys, tax returns, pay stubs, assets, retirement accounts and Mortgage Insurance

Review credit report as needed to address any inconsistencies identified in the Desktop Underwriter findings and meet credit union guidelines

Verify address through USPS look up, verify businesses, and employers thru Bing and or other internet providers

Retrieve Soft pulls, Tax transcripts, and Authorization for the Social Security Administration (SSA-89) verifications through third party vendor

Review Appraisal report for inaccuracies such as gross adjustments based on comparables, property repairs, foundation damage, property value, etc., and request Scorecard

Conduct follow up with outside sources for outstanding documentation to ensure receipt within turn-around time standards

Manage pipeline to reflect accurate closing dates, pursuant to lock expiration, estimated close date, and appraisal due date

Review title report/commitment prior to ensure all matters have been cleared and easements are within the investor guidelines before submitting to Underwriter

Complete a final evaluation and analysis of the completed loan file to include all compliance alerts and either upload all documentation and conditions with updated AUS and send file for underwriting approval

Assist the mortgage loan closer to prepare closing instructions, finalize closing disclosures and request legal documents from attorneys

Ability to assist the mortgage loan closer on the funding functions related to the loan closing

Communicate to borrower, closer and mortgage loan originator when closing disclosure is ready for review and meet all lock in expirations dates or process requests for extensions in accordance with Credit Union policy

Ensure all incomplete, denied, or withdrawn loans meet regulatory requirements while in processing status

Assist with collecting and gathering loan documents for internal and external audits

Create, update, read, and interpret the processing procedure manual and training guides

Successful in completing courses and/or webinars related to mortgage processing and underwriting

Knowledgeable expert who is well diverse on mortgage loan types offered by the credit union (Conventional, Construction, VA, FHA, etc.) A mentor to provide guidance to our members, team members, and building trust. Demonstrate the ability to give sound advice considering our members’ best interests. Knowledge of Credit Union products and services are a plus

A natural communicator who picks up on member’s concerns- and expresses things in a way they can relate to – and who helps them understand complex or intimidating topics, so they feel more knowledgeable

Comply and attend annual Bank Secrecy Act (BSA), Customer Identification Program (CIP) training in addition to compliance training

Follow TILA/ RESPA, ECOA, FNMA, FHMC, and FHLB processes and guidelines to ensure quality assurance as well other regulation laws

An understanding of real estate terminology, mortgage lending practices, and mortgage loan requirements (Conventional, ARM, FHA, VA, USDA, etc.)

All other duties as assigned or identified

Qualification

Mortgage processing experienceMortgage documentsFinancial regulationsBilingualProficient in Microsoft OfficeCritical thinkingDetail-orientedInterpersonal skillsCommunication skillsLeadership abilities

Required

Education – High school or equivalent. College degree preferred

Minimum 3 years of processing experience or certifications, and or technical skills in residential mortgage lending

Work experience should consist of loan processing, loan closing, and loan funding, reading title work, loan estimates, closing disclosures and appraisal reports

Demonstrated leadership and interpersonal abilities

Must have good communication and interpersonal skills

Critical thinking, problem-solving skills

Detail-oriented, and ability to multi-task

Proficient in Microsoft Office and web-based applications

Examine all loan applications and disclosures for discrepancies and ascertain all the information is true and consistent with credit union policies and guidelines

Understanding of financial industry concepts, related laws, and regulations

meet regulatory and compliance guidelines

Review and analyze borrower documentation to determine income, repayment capacity for self-employed borrowers. Perform due diligence to identify possible fraudulent activity

Requires a high level of organizational skills, excellent communication skills, a thorough understanding of Credit Union lending programs, policies, procedures, and professionalism