Mortgage Loan Processing Specialist

Job Description

Job Description

Description:

Performs various loan servicing, processing, and closing activities associated with home equity and home improvement loans which include reviews required documents and prepares wire instruction for loan closing disbursements; monitors and ensures receipt of all required records and funds due to FMCU and other lenders; performs all associated processing tasks relative to FMCU’s multiple mortgage financing activities; gathers appropriate documents to upload to Meridian Link and State National; and providing prompt and professional service with the goal of contributing to monthly loan funding goals and achieving member satisfaction.

Major Responsibilities:

• Prepares loan files for loan submission to underwriting efficiently and promptly to meet or exceed monthly loan funding goals and grow loan portfolio by inputting information into system, prioritizing documents in the file, and preparing and mailing all required loan compliance documents.
• Reviews required documents and prepares disbursements of checks, transfers, and wire instructions for loan closing disbursements to ensure deadlines and member expectations are met with the highest degree of accuracy, quality and efficiency.
• Provides point-of-contact support to members to communicate the loan processing timeline, loan decision, or requests for additional information to include constant follow-up on pending items and loan status.
• Gathers and reviews all loan documentation to ensure all information is correct and current to include income documentation, insurance policies, creditor statements, mortgage statements for payoffs, and all other information required for underwriting.
• Orders credit reports, title commitments, title reports, flood determinations, and appraisals from the appropriate party and reviews for acceptability prior to submitting for approval to include collaborating with loan originators and extensively with loan applicants to obtain required documentation and updates the loan files accordingly.
• Contacts various agencies to obtain additional information and/or verify loan information such as insurance coverage verifications and balances, mortgage and/or creditor payoff statements, and current tax status and/or payoff statement, if applicable, to include resolving and maintaining contact with title companies and loan underwriters regarding lien issues.
• Submits completed loan packages to appropriate underwriter for final approval and validation.
• Prepares approved loans for closing by preparing loan disclosures and closing documents accurately; ensuring all loan stipulations and conditions have been met; and schedules and conducts Home Equity Loan Closings in compliance with all federal regulations.
• Disburses loan proceeds accurately utilizing Symitar and Meridian Link, ensures all transactions are accurate and reflected on the correct general ledgers and ensures all post-funding loan errors are corrected in a timely manner.
• Completes loan file maintenance to include deed recording, image all documents to origination system, and file in vault.
• Assists in performing various servicing tasks such as lien releases, escrow maintenance, recordation, payoffs, and other servicing related matters, as needed.
• Performs other duties as required.

Requirements:

• High School Diploma or equivalency, required.
• 2 years combined experience in loan processing and/or servicing, real estate lending disciplines, and/or credit union operations, preferred.
• Ability to obtain NMLS
• Strong knowledge of home equity and home improvement loan processing and closing policies, procedures, documents, underwriting requirements, Credit Union requirements, terminology, and automated processing systems.
• Strong knowledge of credit policies and approval processes.
• Basic knowledge of all financial transactions, negotiable instruments, and ability to comprehend legal documentation.
• Basic knowledge of applicable Federal and State laws pertaining to real estate lending to including Texas Home Equity lending law, BSA/AML, Fair Credit Reporting Act, Regulation Z, Regulation B, Equal Credit Opportunity Act, HMDA, Fair Lending, the service members Civil Relief Act, and other related laws.
• Excellent orientation to detail and ability to maintain accuracy in processing loan applications and detecting discrepancies.
• Strong problem solving and organizational skills.
• Proficient mathematical skills to accurately validate loan payments and interest calculations; add, subtract, multiply, divide; and to record, balance, and/or check results for accuracy.
• Excellent customer service, interpersonal, and communication skills (both written and oral) when working with members, third-party vendors, or co-workers on processing loans or other Credit Union products/services inquiries or information.
• Strong computer and keyboard skills which includes MS Word, Excel, and Adobe, ten-key number pad or calculator by touch, and exposure to on-line account and loan application software such as Symitar and Opening Act.
• Demonstrated sound judgment in decisions regarding documentation discrepancies and loan funding.
• All Firstmark team members must mirror our shared values: happy, helpful, honest, humble, and hungry (driven).

Building tomorrow starts with you!

At Firstmark Credit Union, we’re working together with our members to build their tomorrow — and we do the same for our employees. From your first day, you’ll enjoy comprehensive medical, dental, and vision coverage, a dollar for dollar 401(k) match, and up to four weeks of paid time off to rest and recharge. We invest in your growth through education assistance, support your well-being with our Employee Assistance Program, and encourage you to make a difference with paid and unpaid volunteer opportunities.

Here, you’ll find more than a career — you’ll find purpose, belonging, and a community that cares.