Mortgage Loan Opener (San Diego or Glendale)

Job Description

Job Description

General Summary:

Under general supervision, initiate the loan process by reviewing initial loan application for accuracy, produce initial disclosures and re-disclosures in accordance with TRID regulations, reviewing documents, ordering services and preparing loan files for processing.

Principal Accountabilities (95%):

• Provides excellent service to members (external and internal) by completing the up-front loan process timely, efficiently and with minimal errors.
• Loan Opener will be responsible for examining the initial loan application and supporting documents to ensure completeness and accuracy.
• After ensuring initial loan application accuracy, the Loan Opener will be responsible for disclosing files in accordance with TRID regulations
• Loan Opener will order and prepare necessary documentation, including but not limited to credit reports, appraisals, escrow/title work, and insurance information.
• Responsible for organizing the loan file within CCU’s LOS system, ensuring all documents are properly categorized and accessible.
• Responsible for tracking the progress of loan files, ensuring timely completion of tasks and following up on any outstanding items.
• Openly communicate with stakeholders such as, loan officers, processors, AMC’s, escrow/title companies, and other parties involved in the loan process.
• Ensure that all loan documentation and processes comply with current regulations and company policies.
• Prepare files for processing by inputting loan information into LOS (Loan Origination System) and AUS (Automatic Underwriting System). Reviews and evaluates DU findings, credit reports, income and asset documentation prior to forwarding the file to processing. Orders 3rd party reports and validates information as required by the loan process.
• Produces initial disclosures and re-disclosures (COC’s) within required time frames and according to TRID regulations.
• Acts as primary contact for loan officer to follow up on all up-front responsibilities
• Maintain communication with processing manager and loan officers regarding the status of loans with issues or not moving through the pipeline in a timely manner.

Secondary Accountabilities (5%):

• Performs other duties as assigned
• Complies with BSA requirements as commensurate with position.

Position Requirement and Qualifications:

• High school diploma or equivalent required
• A minimum of 2 years of experience in mortgage loan processing or mortgage related role
• Experience with loan origination systems (LOS) and document management software is required
• A strong understanding of federal and state lending regulations (e.g., TRID) is necessary
• Credit union experience preferred

Abilities:

Excellent member service skills to include both written and verbal communication. Must be accurate, detail-orientated and possess problem solving skills along with time management, ability to prioritize and be highly organized. Must have computer literacy, ability to manage email inbox/communications and be proficient in using loan origination software and other relevant computer systems. Must be dependable, self-motivated and require minimal supervision. Able to handle competing priorities.

Knowledge, Education, Certifications, Licenses:

Requires a strong working knowledge of mortgage lending, mortgage loan terminology, documentation, lending policies, guidelines, and investor requirements. Must be proficient in FNMA D/U and major Loan Origination and Document Preparation system. NMLS registration/licensing may be required.

Experience:

Minimum of two to three years of work experience as a Mortgage Loan Opener, Mortgage Loan Processor or equivalent in a financial institution, Credit Union preferred.

Working Conditions and Physical Demands:

Work is performed in a general office environment. This position does not require significant physical effort. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job. Refer to the Safety & Health Policy found in California Credit Union’s Employee Handbook.