Equity Loan Servicing Specialist

Mortgage Loan Originator

The position is responsible for the accuracy, content, and completeness of the mortgage application, related underwriting documents, and loan closing documents, within regulatory guidelines.

Essential Job Functions

• Responsible for processing and funding of Closed End Second Mortgage and HELOC loans with a focus on accuracy and efficiency.
• Provides knowledge and superior service to branches and support segments via the department ACD line.
• Reviews and analyzes title documents, appraisal, flood certification, payoff information, insurance, and member information to ensure the loan is compliant and accurate.
• Responsible for working with multiple vendors during processing and when completing payoff requests. This includes but is not limited to title, appraisal, insurance, and other financial institutions.
• Requires to stay up to date with collateral titling changes in process and procedures to avoid member and CU risk and impact.
• Manages MeridianLink queues to meet service level agreements agreed upon with Consumer Lending Sales.
• Completes multiple quality checks of each application prior to the member's appointment and loan funding to ensure seamless funding and lien perfection while meeting compliance and regulatory guidelines.
• Assists with ongoing servicing questions after a consumer loan has been funded.
• Adheres to quality standards for consistent, high-quality service.
• Makes recommendations for the improvements of service quality and lending processes.
• Understanding of Consumer Lending policies, processes, and practices.
• Ensures individual and credit union adherence to policies and standard of business practices.
• Performs other job-related duties as assigned.

Position Required Qualifications

Minimum Education and Experience: High School diploma or general education degree (GED). Three (3) years of experience in a financial institution or any related field.

Knowledge, Skills, and Abilities: Understanding of Equity Products: Home Equity Line of Credit (HELOC) and fixed equity. Ability to process HPML equity loans to include setting up escrow accounts. Ability to understand current credit union underwriting guidelines. Ability to learn and understand compliance guidelines of various governing bodies (CFPB, FNMA, HUD, FHLMC). Ability to type 45 words per minute. Ability to read, write, speak, and use proper grammar in English. Ability to read and comprehend written instructions, correspondence, memos, and procedure manuals. Ability to communicate verbally on the telephone, speaking to members regarding sensitive inquiries or complaints. Ability to apply commonsense understanding when dealing with problems involving variables in standardized situations. Ability to calculate rates, ratios, income, and percentages.

Licenses, Training, and Certifications Required: In compliance with the federal Secure and Fair Enforcement for Mortgage Licensing (S.A.F.E.) Act of 2008, Arizona Federal employees acting as Mortgage Loan Originators (MLO) must be registered with the Nationwide Mortgage Licensing System (NMLS or Registry) and obtain a unique identified (NMLS Number).

Prior to performing MLO duties, the registration process requires a MLO to electronically submit to the Registry personal and employment information as well as authorize and attest to the accuracy of the information submitted: submit fingerprints to the NMLS for an FBI criminal background check, and receive clearance from Arizona Federal based on the FBI background check results.

Applicants with certain criminal convictions, including but not limited to crimes involving dishonesty or fraud, or crimes involving financial services or a financial services related business, may not qualify for the MLO designation.

After successful registration, clearance by Employee Services and having an assigned NMLS number, employees perform MLO functions which include taking a residential mortgage loan application; and offering to discuss the terms of a residential mortgage loan.

To maintain MLO registration and the ability to perform these functions, a MLO must renew registration on an annual basis during the annual renewal period (November 1 through December 31); and update any changes to his/her registration information.

The MLO's registration and employment status will be available to the public from the Registry.

A registered MLO will provide his or her unique identifier/NMLS Number upon request; before acting as an MLO; and through the initial written communication with a member/residential mortgage loan applicant.

• MLOs routinely handle confidential member information and have strict requirements for maintaining the confidentiality and non-disclosure of that information.

Preferred Qualifications: One (1) year experience as an AFCU Personal Banker.

Hybrid Work Environment and Physical Demands

• Occasionally required to reach with hands and arms.
• Regularly required to stand or sit; use hands to finger keys accurately when using calculator machines or computer keyboards.
• Occasionally lift and/or move up to 50 pounds.
• Specific vision abilities required by this job include close vision, distant vision, and peripheral vision.
• The noise level in the work environment is quiet.
• Must be able to travel independently to department and branch locations.

NOTE: The job description is intended to be generic in nature. It is not an exhaustive list of all duties and responsibilities. Requirements listed in the above qualifications and physical requirements are representative of the knowledge, skill, abilities, physical demands, or work environment required or encountered that must be met by an employee to successfully perform each duty and each function of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

Employees who work from home must have business operational internet to complete work tasks and communicate via video call or chat messaging systems in a dedicated workspace.