Mortgage Loan Processor

General Job Description

The Mortgage Loan Processor (MLP) is responsible for processing all real estate applications originated by the Mortgage Loan Officers in accordance with internal credit union policies, procedures, and guidelines. Applications include conventional purchase money, refinance, cash-out refinance, home equity and home improvement loans. Most loans are retained in the credit union’s portfolio, but others are sold on the secondary market. This is an extensive member service-oriented position with primary responsibilities for the accurate processing, validating information and documentation, and timely closing a mortgage loan file. MLP’s must have the ability to maintain effective communication with the member to ensure coordination and exchange of information for accomplishing the closing of the member’s real estate loan. This position will also include some crossover into closing, funding, post-closing, and administrative job duties.

Duties & Responsibilities

• Have thorough knowledge of first and second mortgage real estate lending practices, including federal regulatory requirements, state regulations and agency requirements.
• Have a thorough understanding of conventional and special mortgage loan programs and knowledge of the necessary documentation for processing and obtaining underwriting approval.
• Review Desktop Underwriter verification messages/approval conditions. Verify the accuracy and integrity of all loan data entered into the system including but not limited to names, addresses, government monitoring information, loan information (i.e. loan amount, interest, terms, lock-in expiration dates, etc.)
• Communicate with members to provide them with an overview of the process and inform the member of information and documentation necessary to process the loan.
• Conduct follow-up on outstanding documentation to ensure receipt to keep file on track for a timely closing.
• Order from closing document attorney and/or preparing loan closing documents to prepare for loan closings.
• Disclose Closing Disclosures within TRID guidelines, validating information, reconcile loan fees and charges with title companies, attorney’s offices, appraisers, surveyors, etc., and accurately perform funding transactions to disburse funds to Borrowers and/or title companies.
• Maintain quality within the department by following operational policies and procedures, reporting needed changes, and compliance with Federal regulations.
• Manage relationships with vendors including title companies, mortgage insurance companies, document attorney, and appraisal management companies.
• The MLP is expected to be flexible with respect to duties, scheduling, and periodically completing duties that may be outside their normal job description.

 Job Requirements

• Must register with the National Mortgage Licensing System
• High school graduate with 5 years experience in mortgage lending with at least 2 years as a Mortgage Loan Processor
• Strong verbal and written communication skills
• Strong organizational and planning skills
• Provide friendly, prompt, professional and accurate service and support to all members and associates
• Maintain a dependable record of attendance and timeliness. Ability to work evenings and weekends if needed.
• Knowledge of software and hardware necessary to conduct business in a credit union environment, including, but not limited to: multiple line telephones, fax machine, voicemail, Outlook based electronic mail and calendars, E-Fax, Windows, Microsoft Office (Word, Excel, and PowerPoint)
• Knowledge and familiarity with Calyx loan origination system strongly preferred
• Bilingual in Spanish is a plus.

Physical/Mental Requirements Of The Position:

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 accommodations may be made to enable individuals with disabilities to perform the essential functions.

• While performing the duties of the job, the employee is regularly required to stand, sit, use hands, reach with hands and arms, kneel, crouch, and talk and hear.
• Ability to move and/or lift 10 pounds.
• The vision requirements include close vision and ability to adjust focus.
• The mental demands include detailed work, reasoning, math, language, written and verbal communications, multiple concurrent tasks.