Company
Financial Services
MortgageLoanProcessor
Neural analysis suggests this role is
optimal for Mid+ candidates.
“Mortgage Loan Processor. Skills: Loan processing, Mortgage guidelines, Regulatory compliance. Provide quality member service. Assist mortgage loan officer with member communication”
What You'll Achieve.
Insure data integrity and accuracy of all loans
Industry & Context.
Problem solving skills; Investigate audit exceptions
Sit for long periods, Infrequent lifting up to 10 pounds, Overtime may be required, Saturday hours may be required
What They're Looking For.
Must Have
Prior residential mortgage origination experience, Proficiency in processing conventional mortgages, Working knowledge of conventional residential mortgage guidelines, Working knowledge of conventional residential mortgage products, Working knowledge of conventional residential mortgage terms, Ability to work in a deadline oriented environment, Good problem solving skills, Excellent organizational skills, Good problem solving skills, Good stress management skills, Excellent organizational skills, Ability to interpret VACU origination policies, Ability to interpret FNMA origination policies, Ability to interpret VACU products, Ability to interpret FNMA products, Understanding of Rate Lock policy
Nice to Have
Prior residential mortgage origination experience (conventional and government), Knowledge of government related mortgage guidelines, Computer experience
What You'll Do.
Provide quality member service
Assist mortgage loan officer with member communication
Communicate with members regarding application status
Prepare and mail loan documents
Communicate with mortgage loan officers
Process all full documentation loans
Review loan documentation
Calculate loan documentation
Prepare loan documentation for underwriting
Maintain understanding of investor requirements
Maintain understanding of VACU requirements
Maintain understanding of loan products
Maintain understanding of closing traditions
Prepare files for submission to underwriting
Prepare files for submission to closing
Update mortgage loan origination system
Assist with preparation of loan closings
Assist with scheduling of loan closings
Comply with Regulations B
Complete preparation of required disclosures
Complete issuance of required disclosures
Complete delivery of required disclosures
Insure data integrity of all loans
Insure accuracy of all loans
Comply with enterprise level policies
Comply with Risk Management policies
Complete enterprise level training
Complete BSA training
Complete OFAC training
Complete Information Security training
Report Risk Management Policy violations
Maintain working relationships with Sales team
Maintain working relationships with Processing team
Maintain working relationships with Underwriting team
Maintain working relationships with Closing team
Assist with testing mortgage loan origination system
Assist management to investigate audit exceptions
Formulate responses to audit exceptions
Assist Post Closing in obtaining documentation
Contribute towards team goals
Contribute towards departmental goals
How You'll Work.
Team & Collaboration
Sales team; Processing team; Underwriting team; Closing team
Communication Scope
Oral communication skills; Written communication skills
Full Job Description
_**Job Description:**_ # PRIMARY FUNCTION To process first mortgage loan applications for all residential and land loans to ensure compliance with secondary market and Virginia Credit Union (VACU) corporate policies and procedures. **JOB DUTIES AND RESPONSIBILITIES:** **Member Service** * Provide quality member service to meet the standards set by Mortgage Lending management and the Member Experience team. * Assist mortgage loan officer with member communication from initial application through closing to ensure a smooth mortgage process. As necessary communicate with the member regarding application status. * As needed, communicate with members regarding application status, (approval, denial, additional documentation, etc.). Prepare and mail loan documents including approval letters, etc. * Communicate with mortgage loan officers, underwriting, and closing about file status and issues/concerns with the loan. **Processing Duties** * Process all full documentation loans (purchase and refinance) specializing in Fannie Mae, conventional mortgages. * Review, calculate and prepare loan documentation necessary to prepare the loan for underwriting. (i.e. income documents, bank statements, credit reports, employment history, underwriting reports, reserves, cash to close and federal government exclusionary lists). * Maintain an excellent understanding of investor and Virginia Credit Union (VACU) requirements for a variety of loan products including conventional (traditional and non-traditional) and government lending. * Maintain an understanding of state specific loan and closing traditions to insure that loans close on time. * For converted pre-approval loans, prepare files for submission to underwriting and closing to ensure that the application meets secondary market standards or VACU guidelines. * Update mortgage loan origination system on a timely basis. * Assist with the preparation and scheduling of residential loan closings. **Compliance** * Comply with Regulations B
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