The primary purpose of this position is to assist Northwest Credit Union in living out our vision to be the lifetime financial partner for our member-owners. To achieve this goal, the position must deliver the highest quality service to internal and external members. The primary responsibility of a Mortgage Loan Processor is to ensure the timely and accurate processing of all first mortgage and equity loans. A key component of service to our external members is to identify their financial needs and recommend an appropriate Northwest Credit Union solution.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
SUPERVISORY RESPONSIBILITIES -
- Serves as the point of contact with current members who have a loan application in process. Uses interpersonal and communication skills to convey information effectively to the member and remain responsive to requests for information. Uses in-depth knowledge of mortgage products and internal policies to determine viability of mortgage application. Conveys policies for extension of credit in accordance with Credit Union and secondary investor guidelines. Explain benefits of each program the applicant; effectively explain and communicate the terms of each product. Meets mortgage appointment/walk-in scheduling requirements and production expectations as determined by the immediate supervisor.
- Completes accurate and thorough first mortgage and equity loan applications either in person, over the telephone or via the on-line application portal as needed. Obtains pertinent financial information to determine if the borrower(s) meet the minimum established criteria. Along with ordering and analyzing credit reports, they must also request applicable documentation needed to satisfy loan conditions.
- Ensures accuracy of disclosures and provide to member within specified regulatory compliance timeframes. Examines and analyzes supporting documentation and clarifies missing or questionable information. Ensures all loans are in compliance with all investor, regulatory and PMI guidelines. Notifies members of loan decision and potential issues. As needed, effectively communicates possible solutions in attempt to reach a positive loan outcome. Explains loan denials precisely and clearly to members along with the mailing of the Adverse Action Notice.
- Orders updated credit reports, property appraisals, title work, flood determinations, mortgage insurance and hazard insurance for all loan types. Reviews documentation for accuracy and clarifies missing or questionable information. Follows up with members for outstanding documents. Ensures that all necessary items are available for underwriting review. Prepares applicable loan conditions and provides to underwriting for review. Coordinate settlement between title company’s, attorneys and members from scheduling through funding. Satisfy all conditions of approval ensuring a seamless transition of the file onto Mortgage Loan Closing Team. Work closely with the closer as necessary to clear all conditions and close each loan. Assists Mortgage Lending personnel and serves as a backup as needed.
- Periodic follow up of loan pipeline to ensure rate lock time frames are not exceeded and works to ensure all loan commitments are satisfied. Stays informed regarding changes in lending standards, related legal requirements, and trends in local real estate and competitive market. Remains knowledgeable of the Credit Union’s products and services. Meet or exceed the sales and service goals for the position. Promotes awareness of CU Realty Program. Remains cognizant of and adheres to NWFCU policies and procedures, and regulations pertaining to the Bank Secrecy Act (BSA)
This job has no supervisory responsibilities.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
CREDENTIALS AND EXPERIENCE -
High school graduate or equivalent. At least 3 years experience as a processor and/or closer . Knowledge of Credit Union Policies and Procedures relating to mortgage operations. Knowledge of federal regulations and compliance issues such as RESPA, REG Z, HMDA, etc. Basic knowledge of secondary market guidelines. SAFE Act Licensing required.
KNOWLEDGE, SKILLS AND ABILITIES -
Use of HP12C financial calculator, Microsoft office suite to include word, and excel. Skilled in the use of the internet for information retrieval and online business processing. Harland’s E3 and Servicing Director software along with the black NWFCU member information screen.
LANGUAGE SKILLS -
Must possess good verbal and written communication skills.
MATHEMATICAL SKILLS -
Ability to add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals. Ability to compute rate, ratio and percent.
REASONING ABILITY -
Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.
PHYSICAL DEMANDS -
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 job duties the employee is required to sit and talk or hear. The employee frequently is required to use hands to finger, handle or feel and reach with hands and arms. The employee is occasionally required to stand and walk. The employee must occasionally lift and/or move up to 10 pounds.
WORK ENVIRONMENT -
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
SPECIAL REQUIREMENTS - All positions require U.S. citizenship, drug test and a Federal Government Security Clearance. NWFCU will sponsor the clearance process for qualified applicants. All Applicants will be subject to a credit history check in order to determine employment eligibility with NWFCU.
Necessary accommodations will be made to enable individuals with disabilities to perform the essential functions of this position.
We are proud to be an EEO/AA employer M/F/D/V. We maintain a drug-free workplace and perform pre-employment substance abuse testing.