Mortgage Processor and Closer

Job Description

Job Description

Think of us as a 100-year-old startup. As one of the oldest and most highly capitalized credit unions in the U.S., Liberty Bay Credit Union is arguably the best-kept secret in the financial space. We combine a century of New England stability with a fresh, high-energy purpose: to fuel the earning potential and personal ambitions of our hardworking members. We believe that advocacy, expertise, and honest guidance should be accessible to everyone. Based in Braintree, we are a member-owned, non-profit cooperative dedicated to providing world-class financial services to individuals and business members.

Our mortgage lending department is responsible for originating, processing, underwriting, and servicing mortgage loans.

The Mortgage Processor/Closer’s primary duties consist of interacting with applicants, attorneys and underwriters to process loan documentation, including: disclosures and commitment letters, calculating debt position and loan to value, preparing loan closing documents and performing post-closing review in accordance with FNMA/FHLMC guidelines.

Responsibilities

• Process loans from origination to close in compliance with established regulations and guidelines.
• Assist members with the loan application process and promote the Credit Union’s products.
• Provide administrative assistance to the loan originator and staff
• Calculate closing costs, including mortgage insurance and escrow accounts, and provide a loan estimate for closing costs to the member. Interact with attorneys on loan closings by providing necessary information, coordinate disbursements, make arrangements for loan closings, and verify all documentation.
• Order and verify credit report, flood, real estate appraisal and title work to ensure proper guidelines are followed.
• Ensure all loan notifications, commitment letters, disclosures and re-disclosures are complete, accurate and distributed to applicants as required. Ensure all conditions are met prior to closing.
• Maintains a closing and funding schedule to ensure all transactions are properly disbursed in accordance with established timeframes.
• Maintains up-to-date knowledge of all applicable LBCU, Secondary Market, State and federal laws, regulations, policies, procedures and guidelines.
• Have a sense of urgency and professionalism in all aspects of the position.

Requirements

• A minimum of 3-years experience in a mortgage processing and/or servicing environment (or equivalent)

• An Associate’s Degree in Business Administration, Accounting, (or equivalent education/experience)
• Proficiency with computer software applications is required
• Professional, well-developed interpersonal and communication skills are essential.
• Ability to respond professionally to varied inquiries from members; ability to influence subordinates; and ability to effectively communicate and present information to a wide range of audiences including senior management.
• Thorough knowledge of all credit union products, services, and procedures; external State and Federal rules and regulations for lending and credit.
• Ability to read, analyze, and interpret financial reports, procedures, legal documents and external regulations;
• Intermediate math skills (adding, subtracting, multiplying, dividing, percentages, proportions, fractions, interest) are required.

Salary Range: $55,000 - $70,000

Benefits

We offer an extremely generous benefits package:

• Health care plan (Employer paid)
• Retirement plan (401k)
• Life Insurance
• Paid Time Off (vacation, sick, holidays)
• Family Leave (maternity, paternity)
• Short Term & Long Term Disability
• Training & Development
• Wellness Resources