Mortgage Loan Processor

Mortgage Loan Processor

Longview Branch - Longview, TX 75605

Description

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 for underwriting and closing review. Arranges flood zone certification as required. Communicates loan status to all involved parties including buyer, seller, realtor, and title company representatives. Obtains proof of insurance as required on mortgage loans. Assists or refers members as necessary.

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. Prepares monthly status report.

i. Prepares miscellaneous correspondence and records.

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. Ensures that work area is clean, secure, and well maintained.

c. Replaces absent Mortgage Loan personnel as required.

d. Professionally cross-sells Credit Union services.

Qualifications

Qualifications

Education/Certification :

High school graduate or equivalent.

Required Knowledge:

Understanding of mortgage loan processing functions, including FHA/VA and conventional lending.

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

Experience Required:

One to two years of related mortgage lending experience.

Skills/Abilities:

Good verbal and public relations skills