Mortgage Loan Processor

The primary responsibilities of the Mortgage Loan Processor include verifying the accuracy of the mortgage loan application and preparation for and the submission of the loan file to underwriting. The Mortgage Loan Processor also orders the appraisal, title, and verifications, and clears post underwriting conditions.

• Verify and organize all application documents (Income and asset statements, debt to income ratios, AUS underwriting findings, etc.) in loan origination system for accuracy, to make sure package is complete for internal or secondary market review.
• Submit loan files to underwriting in a timely manner. Make phone calls, email or send written requests to follow up with members, loan originators, attorneys, underwriters and/or third parties to clear conditions required for loan approval.
• Order and review appraisals, AVM's, flood certifications, credit supplements, homeowner's insurance and verifications as necessary for loan approval. Submit completed appraisal reports to underwriting and/or the Uniform Collateral Data Portal.
• Create and mail approval letters to members regarding loan approval and outstanding items needed prior to loan closing.
• Order title and clear preliminary title report of any item(s) that will prevent attaining the appropriate lien positions. Work with closing agent to ensure they have gathered necessary documentation. Obtain subordination agreements, releases, lien affidavits, child support payments, etc. as necessary to clear for clear title.
• Work with members, realtors and closing agents to set up closing date and time and prepare loan for closing by gathering additional data such as property taxes, payoffs, and additional forms as necessary.
• Order undisclosed liability reports to insure debts are still accurate on loan applications.
• Represent the Credit Union in contact and status inquiries with realtors, attorneys, vendors and members. Work with all parties to resolve settlement issues prior to closing.
• Maintain accurate follow-up on all closed mortgage loans. Follow up on pre-closing and post-closing conditions which include compliance with secondary market follow-up documentation and funding.
• Maintain pipeline management with loan originator including assistance with monitoring rate, funding, and delivery expiration dates, mailing out denial letters, withdrawing incomplete applications, as well as complying with HMDA regulations.
• Reconcile closed loan report at month end with actual closed loans for management reporting.
• Ability, availability, and willingness to work flexible hours to accommodate loan volume during periods of peak demand.
• Review loan files for completeness upon receipt and update data in the loan origination system as needed.
• Communicate with members in our point of sale system about their loan progress and items needed for approval on their application.