Mortgage Loan Processor

The Mortgage Loan Processor is responsible for managing a personal pipeline of mortgage loan files from application through underwriting and approval. This role ensures all required documentation is collected, reviewed, and verified; orders third-party services; communicates with borrowers, loan officers, and vendors; and maintains accuracy and compliance throughout the loan process. The Processor delivers an excellent member experience while meeting quality, regulatory, and service standards. Must comply with all SAFE Act procedures. 

Duties and Responsibilities: 

Application Review & Documentation Management

• Review new loan applications to ensure all required forms and borrower documents have been received.
• Evaluate loan files for completeness, accuracy, and eligibility based on credit, income, assets, collateral, and compliance documentation.
• Review loan packages for compliance with internal and investor guidelines before submitting to Underwriting.
• Follow up with borrowers and loan officers to obtain missing or updated documentation.
• Verify that loan approval conditions are satisfied and submit final conditions for underwriting review.

Processing Workflow & Coordination

• Order necessary third-party services, including appraisals, title work, flood determinations, and insurance verifications.
• Communicate regularly with borrowers, loan officers, title companies, and other vendors to keep files moving efficiently.
• Respond to member phone calls and emails from loan originators in a timely and professional manner.
• Monitor file status to ensure deadlines, rate lock expirations, and contract timelines are met.
• Update pipeline reports regularly and maintain accurate documentation within the loan origination system (LOS).

Loan Quality, Compliance & Reporting

• Review files for accuracy, completeness, and compliance with investor, regulatory, and Credit Union guidelines.
• Prepare and send adverse-action notices (denial letters) as required.
• Maintain current knowledge of regulatory changes, mortgage practices, and mortgage terminology.
• Leverage internal reporting tools to monitor progress and drive efficiency in the loan process.
• Pick up and distribute mortgage mail as needed to support workflow continuity.

Member Experience & Support

• Meet with members as needed to obtain documents or provide guidance throughout the loan process.
• Ensure communication is clear, timely, and supportive to create a positive borrower experience.

Professional Development

• Take ownership of personal development by participating in training, seeking feedback, and building knowledge and skills relevant to lending, compliance, and the Credit Union’s mission.

Additional Requirements: 

• Working knowledge of mortgage processing practices, underwriting guidelines, and mortgage documentation standards.
• Familiarity with automated underwriting systems (e.g., DU) and loan origination system (LOS) platforms.
• Ability to read and evaluate credit reports, income documentation, asset statements, and appraisal reports.
• Understanding of mortgage lending regulations such as RESPA, TILA, ECOA, HMDA, and TRID (or willingness to learn quickly).
• Strong organizational skills with the ability to manage multiple files and deadlines.
• High attention to detail, accuracy, and data integrity.
• Effective problem-solving and follow-through skills.
• Ability to work efficiently under pressure during high-volume periods.
• Strong written and verbal communication skills for working with members, staff, and vendors.
• Proficiency with Microsoft Office Suite.
• Positive attitude, strong teamwork orientation, and a member-focused mindset.
• Ability to adapt to changing requirements, timelines, and regulatory expectations.
• Ability to communicate, verbally and in writing, in a professional manner when dealing with employees, members, vendors, and company contacts.
• Ability to follow the core values of honesty, integrity, mutual respect, pride, and ownership.