Mortgage Loan Processor

Category of Employment

Full-time; Non-Exempt

Grade 7

Position Purpose

To assist the Mortgage Loan Specialists and members with mortgage loan applications; process loan applications and prepare all necessary loan documents

Reporting Relationships

Reports to the Loan Support Manager

Essential Functions and Accountabilities

•Prepares letters, forms, checks, and other documents used for collecting, disbursing, and recording mortgage principal, interest, and escrow account payments

•Examines documents such as deeds, assignments, and mortgages, to ensure compliance with escrow instructions, Credit Union policy, and legal requirements

•Orders Title work, Pest, Well, Water, & Septic Inspections, and submits appraisal requests in accordance with the Real Estate Appraisal Policy

•Sends required disclosures to borrowers in a timely manner.

•Assembles and organizes documents in loan file to meet quality control requirements for both portfolio and secondary market loans

•Accurately scan and file all mortgage loan documents in a timely manner

•Types notices to government, specifying changes to loan documents, such as assignment or release of mortgage

•Orders property insurance policies to ensure protection against loss on mortgaged property

•Updating daily mortgage rates on webpage and rate sheets and distributing as appropriate

•Corresponds with title company to prepare and deliver closing packages in a timely manner

•Funds all in-house and refinance mortgages in addition to disbursing payments to vendors and service providers

•Assists with month-end reporting including loan funding reconciliation, payment posting, balancing mortgage GLs, etc.

•Cross sells other credit union services as appropriate

•Performs other job-related duties as assigned

Expectations

•To ensure all lending activities and approved loans comply with established policies, procedures and relevant government rules and regulations

•To ensure closing documents are in compliance with policies and procedures. All documents and insurance policies have been properly signed, endorsed and remain current in loan file with minimal errors per month

•To organize and complete member loan files within prescribed time frame

•To provide informed, professional and accurate service and support to all members and associates

•To maintain files in accordance with loan manual and record retention schedule

•To maintain a dependable record of attendance and timeliness

•To maintain a professional, courteous, and friendly atmosphere for members and co-workers