Mortgage Loan Specialist (Processor/Closer)

Mortgage Loan Specialist

This is a Temp to Permanent role 

The primary purpose of this position is to assist Community Credit Union of Florida in living out our Mission, “Always improve the financial well-being of our members and make a positive difference in our community,” by delivering outstanding service to both internal and external members.  In addition, the Mortgage Loan Specialist is responsible for processing and ensuring the proper verification of mortgage loan applications, along with preparing underwritten loans for closing in accordance with CCU policies and procedures. Develops and maintains monthly statistical departmental reports.  The incumbent must maintain a thorough knowledge of credit union mortgage loan policy, interest rates, and required documents and disclosures to ensure compliance with current regulations. Develops an ongoing relationship with the mortgage department team, including underwriters, originators, and servicers, as well as the branch member service lenders.  This individual assists the VP of Mortgages and the Mortgage Operations Manager with the development and maintenance of the mortgage procedures, manuals, and job aids.

Community Credit Union of Florida is an Equal Opportunity Employer (EEO) and supports a drug-free workplace. 

ESSENTIAL DUTIES

1)    Demonstrates enthusiastic support of corporate mission, core values, and long-term objectives by performing job duties within our bylaws, regulations, Board of Directors policies, established internal and external service standards, and our work procedures while possessing adequate product knowledge as measured by the annual product knowledge assessment.

2)    Delivers service to both internal and external members that is in alignment with the credit union’s Service Promises and meets all established service goals. 

3)    Abides by CCU’s Service Promises when helping a member or co-worker to ensure timely responsiveness to the individual’s needs. Promotes teamwork, respects opinions, abilities, and contributions of others, and conveys a willingness to assist and cooperate with others for the benefit of the organization.

4)    Assists in attaining established departmental goals and adheres to all credit union standard operating policies and procedures, as well as state and federal regulations and guidelines. 

5)    Performs file maintenance on accounts, including quality control audits, imaging, and filing; enters new member information, member profiles, employment information, loan data, and any other pertinent member information into the mortgage origination and servicing system.

6)    Administers loan application packages, establishes relevant files, and obtains pertinent information or reports as required.  Ensures loan activities are completed in a timely fashion and conform to the established policies and practices of the credit union.  Understands and follows the established mortgage department configuration procedures and guidelines.

7)    Achieve Monthly processing targets of 10 files and maintain an average submit to processing to clear to close turnaround of 21 days.

8)    Maintain accuracy <3% error rate on QC audits with adherence to TRID, RESPA, state, and Federal Regulatory Timelines

9) Processes loan application packages, including: 

a)    Receives files from the Loan originators' pre-disclosure. The processor updates the e-folder with property information and verifies the loan estimate pages. The processor begins the processing phase by ordering necessary items such as appraisals, titles, surveys, verifications, and any other items required for loan approval, and conducts regular follow-up with outside sources regarding outstanding documents.

b)    Leverage Encompass to automate disclosures and track milestone progress by maintaining accurate milestone progress. Responsible for verifying application data to ensure it is accurate, including product type and amount of mortgage, borrower assets, liabilities, and length of employment.

c)    Recommends that loans not meeting minimum standards be denied. 

d)    Communicates underwriting requirements to the members and obtains the necessary documentation to meet this requirement according to Community Credit Union.

e)    Obtains a copy of the current homeowner’s insurance and flood insurance (if applicable) and makes sure the mortgagee clause is in favor of the credit union. 

f)    Follows up on vendor orders such as appraisals and flood certifications, and verifications to prepare the file for underwriting. 

g)    Reviews appraisal and determines if guidelines were met.

h)    Reviews survey for legal description accuracy.

10) Processes loan closing packages, including: 

i)    Once the loan file is Final Approved/Cleared to Close, the Specialist will communicate with the Title Company/Settlement agent to balance all fees and prepare a preliminary closing disclosure to be provided to the member.

j)    Responsible for verifying all fees are accurate and within regulatory compliance standards, as well as verifying all closing conditions are met.

k)    Responsible for sending final loan closing packages to settlement, as well as retrieving signed closing packages from the settlement agent, prior to funding. 

l)    Coordinates a scheduled closing date/time with the member and settlement agent.

m)    Responsible for sending Wires to the Title Company for loan fundings.  

n)    Reviews all final closing docs for required signatures and works with the post-closer and Quality control team to ensure all post-closing docs & requirements are met.

o)    Coordinate and troubleshoot e-closing sessions, ensuring member comfort with the digital experience 

11) Responds to the Mortgage department team’s inquiries and problems in a professional, timely manner; follows up on inquiries with informational materials and/or phone contact with the realtor, title company, and members; investigates and corrects errors and resolves problems or other issues.  Develops and maintains an ongoing relationship with mortgage underwriters and the mortgage department to sustain a positive and professional relationship.

12) Assists with telephone support by responding to member inquiries and problems in a professional, timely manner. Help members utilize electronic delivery channels for convenience. Provides payoffs when requested. 

13) Possesses a thorough knowledge of credit union policies, rates, and the documents and disclosures necessary to ensure compliance and consistency with current regulations. 

14) Establishes proper identification of members to comply with the Bank Secrecy Act/USA Patriot Act Customer Identification Program.  Prepares all documents and items pertaining to loan accounts and processes according to policy and procedure.

15) Maintains ongoing communication with the supervisor, informing individuals of all pertinent problems, irregularities, new developments, changes, and other important information within the area of responsibility.

16) Maintains files, copies, and faxes documents, and orders and distributes supplies.

17) Communicate with members, loan officers, and all the parties involved in a transaction to provide status and set accurate and realistic expectations from submission to close.

18) Follows policy and procedures related to Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and Customer Due Diligence (CDD) daily to ensure compliance with current regulations.

19) Monitor and escalate appraisal, title, and flood-certification vendors to meet SLA and maintain service quality

20) Participate in regular process improvement sessions to streamline workflows and reduce turn times 

21) Communicate to the team any regulatory changes. Notify the team of any material changes in the loan at any milestone that could affect the approval or make the loan unsaleable.

Performs all other duties as assigned and works on special projects as assigned.

ENVIRONMENT AND PHYSICAL ACTIVITY

The environment for this position is an open office “cubicle” setting that is clean and comfortable, where the incumbent is free to move about at will.  It may include some minor annoyances such as noise, odors, and drafts.

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is frequently required to spend time writing, typing, speaking, listening, lifting (up to 25 pounds), carrying, seeing (such as close, color and peripheral vision, depth perception, and adjusted focus), sitting for long periods of time (up to 8 hours), pulling, walking, standing, squatting, kneeling, and reaching.

The incumbent for this position may operate any or all of the following: telephone, copy and fax machines, calculator, computer terminal, personal computer, and related printers. 

MENTAL DEMANDS

The incumbent in this position must be able to read documents or instruments, perform detailed work, and solve problems; possess excellent member contact and verbal and written communication skills; have strong math and analytical reasoning skills; and have the ability to effectively handle stress, multiple concurrent tasks, and constant interruptions.

POSITION REQUIREMENTS

These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position.  The requirements listed below are representative of the knowledge, skills, and/or abilities required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.

•    High school diploma or general education degree (GED); three (3) to five (5) years’ related experience and/or training; or the equivalent combination of education and experience. Work-related experience should consist of mortgage department experience in a financial institution or mortgage office. Educational experience, through in-house training sessions, formal school, or financial industry-related curriculum, should be business or financial industry-related. 

•    Intermediate knowledge of related state and federal compliance regulations and operational policies. The incumbent must possess a thorough knowledge of TRID guidelines and disclosure delivery times.

•    Ability to perform simple mathematics calculations, including fractions, percentages, multiplication, and division; use of ten-key and keyboard by touch is required. 

•    Intermediate skills in computer terminal and personal computer operation; word processing, spreadsheet, and software programs. Intermediate typing skills to meet the production needs of the position.

•    Must possess strong attention to detail skills. Effective oral, written, and interpersonal communication skills with the ability to apply common sense to carry out instructions, interpret documents, understand procedures, write reports and correspondence, and communicate clearly to members and employees. 

•    Good organizational and time management skills, with the ability to multitask, the ability to work with general supervision while performing duties, and be a strong collaborator.

•    Encompass knowledge is preferred.

•    Willingness to learn and cross-train in all the areas within the mortgage department to be able to assist and cover if needed. Once fully trained, be willing to serve as a subject matter resource for newer team members.

The incumbent must be able to perform in this position safely, without endangering the health or safety of the individual or others.