Senior Mortgage Loan Processor

Senior Mortgage Loan Processor

The Senior Mortgage Loan Processor reviews and gathers documentation, verifies information, and orders loan-related documents to submit for underwriting of mortgage loans within UFCU and industry guidelines. This role assumes primary responsibility for the loan file and loan documentation from the receipt of the contract through closing/funding.

The Senior Mortgage Loan Processor reports to the Senior Manager, Mortgage Loan Operations.

Our Credit Union was founded in 1936 and has grown to serve members throughout Texas and beyond. At UFCU, we are more than just a financial institution, and our people are more than just employees. We are dedicated to our purpose of empowering our Members to achieve financial success and build brighter futures.

In pursuit of our aspiration that UFCU is loved by millions of Members and built to thrive for generations, we are guided by our values:

Purposefully Member-Obsessed

We are driven by a profound sense of empathy to deeply understand our Members' needs and preferences, what brighter futures means to them, and the obstacles in their way. We act in our Members' best interests, forever seeking to empower their financial success.

Possibilities Reimagined

We are inspired to courageously experiment, learn, and iterate in pursuit of positive impact for our Members, UFCU, and coworkers. We challenge assumptions, embrace diverse perspectives, and make use of data and insights.

Performance Excellence Rooted in Unwavering Integrity

We do the right thing, always. We champion teamwork, accountability, continuous improvement, and celebrate successful outcomes of others, fostering an inclusive environment of excellence and collaboration.

Essential Functions

Loan File Evaluation and Documentation

• Evaluates loan applications and accompanying documents to determine compliance with Automated Underwriting System (AUS) results and guidelines; conducts further due diligence and re-evaluates based on AUS as needed
• Performs thorough review of credit report
• Reviews employment information and collects necessary supporting documentation
• Reviews asset statements and financial information and collects necessary supporting documentation
• Communicates with members and maintains effective follow-up to ensure receipt of documents necessary for loan processing
• Evaluates appraisals for accuracy, making sure any corrections, adjustments, and repairs are completed prior to underwriting submission
• Orders property information including title, flood certification, and homeowner's insurance documents
• Reviews title documents for valid ownership, chain of title, taxes, subordinate liens, liens and judgments, and current mortgage holder
• Performs due diligence on loan package to ensure it is complete and thorough before submitting for underwriting approval
• Verifies that Underwriter receives and clears all underwriting conditions and prepares the file for submission to the Closing Department
• Stays current on all underwriting guidelines and quality control policies

Communication

• Performs timely follow up with key individuals to resolve problems and/or responds to inquiries
• Works collaboratively with Loan Officers, Underwriters, and Closers to resolve problems.
• Handles all member communication during the processing of the mortgage loan.

Other

• Adheres to all company policies, procedures and business ethics codes.
• Completes required regulatory training as assigned.
• Maintain strict adherence and compliance to all laws, rules, regulations and internal controls specific to your role, including but not limited to Bank Secrecy Act, Anti-Money Laundering, USA Patriot Act, OFAC and Fair Lending regulations.

Knowledge/Skills/Abilities

Knowledge

• Advanced knowledge of current mortgage lending laws and regulations for Fannie Mae, FHA, VA, USDA
• Thorough knowledge of all aspects of the federal and state regulations dealing with Home Equity lending
• Advanced knowledge of the mortgage process, documentation, requirements, and terminology
• Proficient in use of computers and MS Office software suite (e.g., Outlook, Word, Excel)

Skills

• Excellent analytic skills, attention to detail, and ability to work within time constraints
• Excellent interpersonal, written and verbal communication skills

Abilities

• Demonstrated ability to use loan origination and underwriting software to efficiently perform job functions
• Well-developed ability to manage multiple tasks/projects and deadlines simultaneously
• Ability to quickly build rapport and establish credibility with members and co-workers.
• Ability to manage multiple projects, under tight deadlines while maintaining the accuracy and integrity of loan documentation.
• Ability to efficiently work both independently and in a team environment
• Strong ability to effectively manage daily workload to meet or exceed service levels
• Ability to exhibit adaptability to effectively adjust to frequent changes
• Ability to consistently and effectively make evaluative judgments

Core Competencies

• Demonstrating Member Obsession
• Puts themselves in the Member's shoes
• Looks for friction points
• Makes it personalized and easy
• Demonstrating Performance Excellence
• Sets standards for elevating excellence
• Ensures elevated quality
• Takes responsibility
• Conducts continuous improvement
• Demonstrating Innovation
• Challenges current thinking
• Approaches change with a positive mindset

Experience

Minimum Requirements

• High School Diploma or equivalent
• Minimum five (5) years of experience in mortgage loan processing
• Deep experience with Encompass Loan Origination System (LOS)
• Extensive experience with all loan products available by Fannie Mae, Freddie Mac, FHA, VA, and USDA
• Must be bondable

Preferred Requirements

• Bachelor's degree or related college coursework
• Prior financial institution experience
• Experience with AllRegs software to review mortgage Underwriting guidelines
• Bilingual in English and Spanish

Physical Demands

The physical demands described are representative of those that must be met by an employee, with or without accommodation, to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Frequent

• While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle or feel; reach with hands and arms; and talk or hear.
• Specific vision abilities required by this job include close vision, distance vision, peripheral vision and ability to adjust focus.
• Employee will make extensive use of the telephone and virtual communications requiring the ability to explain complex information effectively and accurately.

Work Environment

The work environment characteristics described are representative of those an employee encounters while performing the essential functions of this job.

• This position requires frequently working onsite at UFCU Plaza in Austin, Texas.
• This position may involve periodic stressful conditions.
• May occasionally require an adjusted work schedule, overtime, and evening/weekend hours.
• Frequent computer use at a workstation up to two hours at a time.
• The noise level in the work environment is usually moderate