Role: |
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Responsible for processing all mortgage portfolio and/or investor loans, ensuring the loan documentation is accurate and complete. Orders necessary services and prepares the loan file for final underwriting review. Performs all tasks in compliance with policies, procedures, and federal regulatory laws throughout the processing stage. |
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Essential Functions & Responsibilities: |
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| - | Serves as primary point of contact for members throughout the processing stage. Responsible for building a professional rapport with members, answer questions, return phone calls/emails in a timely manner, and provide status updates on a weekly basis. |
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| - | Coordinates with third-party service providers/realtors to order all necessary services required to complete the loan file, including but not limited to appraisal, title work, survey, flood determination, and verification of deposit. |
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| - | Reviews mortgage loan files for accuracy and completeness. Requests/obtains documentation from the member as needed. Upon receipt, reviews all provided materials for accuracy/completeness and updates LOS. |
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| - | Verifies the accuracy of title insurance commitments, appraisals, assessment drive-bys, surveys, and other required services necessary to complete the mortgage loan file, ensuring EFCU's interests are properly protected as the lienholder. |
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| - | Submits the mortgage loan file to Underwriting, when necessary, particularly in cases where there are negative updates to the member's financial stability or concerns regarding the subject property. Addresses and clears any stipulations noted by the Underwriter. |
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| - | Ensures all documentation as well as services completed complies with Freddie Mac and EFCU mortgage loan policies and guidelines. |
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| - | Prepares and re-discloses a Loan Estimate reflecting a changed circumstance within three business days of the member's request. Ensures all fees and services are accurately disclosed before issuing the revised estimate. |
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| - | Submits the completed mortgage loan file to Underwriting for Clear to Close approval. Resolves and clears any stipulations before forwarding the file to the closing team. |
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| - | Maintains ongoing communication with the assigned closer regarding upcoming purchase closings and ensures they receive the mortgage loan file in a timely manner. |
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| - | Performs other job-related duties as assigned. |
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Performance Measurements: |
| 1. | Must monitor processing pipeline and ensure timelines are followed. |
| 2. | Must possess strong verbal and written communication skills. |
| 3. | Must be able to prioritize tasks and pay attention to detail. |
| 4. | Must be able to work unsupervised and have problem-solving skills. |
| 5. | Must be able to qualify for and obtain a NMLS ID number. |
| 6. | Must be thoroughly familiar with EFCU's computer system and Mortgage LOS System. |
| 7. | Must maintain knowledge of Mortgage Regulations and EFCU Mortgage Policies and Procedures. |
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Knowledge and Skills: |
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Experience | One year to three years of similar or related experience. |
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Education | A high school education or GED. Annual review of Federal and State Mortgage Lending Laws and Regulations is required. This includes, but is not limited to, Fact Act, SAFE Act, ECOA, HMDA, TILA, and RESPA training. |
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Interpersonal Skills | Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication. |
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This Job Description is not a complete statement of all duties and responsibilities comprising the position. |
