Mortgage Processor

Job Description

Job Description

Position Title: Mortgage Processor

Department: Real Estate 

Classification: Non-Exempt

REPORTING RELATIONSHIPS

Position Reports To: Vice President of Real Estate

Positions Supervised: None

POSITION PURPOSE

Responsible for providing clerical support for all mortgage loan processing activities.  Receives, evaluates, and reviews loan applications.  Obtains and verifies necessary information and prepares documents needed for underwriting and closing of mortgage loans. Completes necessary reports, schedules closing appointments, and communicates loan status to all involved parties including buyer, seller, realtor, and title company representatives. Assists or refers members as necessary. 

NATURE AND SCOPE

This position requires a high level of organizational skills to ensure the proper documentation of required information.   Efficiency and accuracy, as well as professionalism in communication, are vital to the successful execution of this position.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

1. Assumes responsibility for providing effective clerical support for all phases of mortgage loan activities.

a.             Reviews new loan applications.

b.             Prepares and issues conditional loan approvals for borrowers.

c.             Orders appraisals, credit reports, and title reports.   Logs dollar amounts received and verifies employment, salary, assets, and liabilities.  

d.             Resolves loan application problems.  Assists applicants with addressing credit report problems, low appraisals, low salary levels, and high debt ratios.

e.             Reviews information for completeness and accuracy.   Clarifies missing or questionable information.  Follows up with outside sources of outstanding documents.  Ensures that all necessary items are available for underwriting.   Tracks development of information to ensure compliance with underwriting guidelines.  Resolves conditions of underwriting.  Submits loans for final approval.

f.             Communicates status of loans to buyer, seller, realtor, and title company.  

g.             Prepares files for closing.  Checks current PR, appraisal, and interest rate lock.   Obtains records for homeowner's insurance and flood certification.

h.             Performs necessary post-closing conditions requirements. 

i.              Prepares miscellaneous correspondence and status reports.

2. Assumes responsibility for establishing and maintaining professional business relationships with members and mortgage professionals.

a.             Resolves (or refers) requests and problems promptly and courteously.  Answers member loan questions regarding applications in the process of approval.

b.             Keeps members and realtors properly informed of Credit Union policies and procedures.  Notifies members of additional information required.

c.             Maintains and conveys the Credit Union's professional reputation.

3. Assumes responsibility for establishing and maintaining effective coordination and communication with Credit Union personnel and with management.

a.             Assists and supports Mortgage Loan personnel as needed.

b.             Completes reports and records promptly and accurately.

c.             Attends meetings as required.

d.             Keeps management informed of area activities and of any significant problems.

4. Assumes responsibility for related duties as required or assigned.

a.             Performs miscellaneous clerical functions as needed.

b.             Keeps work area clean, secure, and well-maintained.

c.             Replaces absent Mortgage Loan personnel as required.

d.             Professionally cross-sells Credit Union services.

PERFORMANCE MEASUREMENTS

1.             Reports, records, and all related documents are accurate, current, and submitted on time.

2.             Files are accurate and up-to-date.

3.             Good business relations exist with members.   Problems and questions are courteously and promptly resolved or referred.

4.             Good working relationships and coordination exist with area personnel and with management.  Assistance and support are provided as needed.  Management is properly informed.

5.             Loan processing functions are completed in accordance with established policies and procedures.

6.             The Credit Union's professional reputation is maintained and conveyed.

QUALIFICATIONS

Education/Certification: A high school education or GED. 

Required Knowledge: Understanding of mortgage loan processing functions, including FNMA, FHLMC, FHA/VA and conventional lending.

Knowledge of mortgage related requirements, procedures, and underwriting criteria. 

Experience Required: One year to three years of similar or related experience.  

Skills/Abilities: Good verbal and public relations skills.

Strong typing abilities.

Good basic math skills.

Able to use related computer applications.

Well organized. 

PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

Finger Dexterity: Using primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together.

Talking: Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.

Average Hearing: Able to hear average or normal conversations and receive ordinary information.

Repetitive Motion: