Mortgage Loan Specialist

Summary

Perform quality assurance reviews (Post-Closing Audit, Pre-Funding Audit) to ensure mortgage loan processes and documents comply with applicable CFPB requirements and guidelines. Examine residential loan documentation to ensure completeness, accuracy and compliance with investor standards, and take corrective action as needed. Responsible for the maintenance of tax and insurance records on mortgaged properties and accurate and timely payment of real estate taxes and insurance on escrow and non-escrow accounts.

Processes all disbursements for customer escrow accounts and provides assistance in resolving tax and insurance related issues.

Assists with the day-to-day operations of the Mortgage Department, to include but not be limited to escrows, closings, subordinations, loan documentation and follow-up, quality control, tracking and reporting, and answering members’ basic mortgage questions.

• Identify and resolve issues/errors in pre-funding and/or post-closing stage of loan file review, and take corrective action to bring loans in compliance with CFPB regulatory requirements.
• Examining loan files for accuracy, completeness, and compliance with policies, internal requirements, investor and regulatory requirements.
• Review and re-verify as needed income, tax returns, consumer credit reports, debt-to-income ratio, asset statements, loan-to-value ratio, employment, etc.
• Evaluate loans with declined credit applications for accuracy based upon established risk parameters to ensure conformance with HMDA, regulatory requirements and product guidelines.
• Analyze escrow sufficiency to make sure escrowed funds are sufficient to make required payments.
• Monitor hazard insurance for consistent and uninterrupted insurance coverage, including forced place insurance when required.
• Ensure timely bill procurement and payments of real estate taxes.
• Provide in-person or telephone information concerning the mortgage loan process and procedures.
• Post to and balance real estate-related general ledger entries.
• Organize pending files.
• Prepare various pre‑formatted reports.
• Organize and standardize all completed mortgage loan files.
• Post payments and disbursements from escrow funds as required.
• Follow-up on post‑loan closing documentation.
• Follow-up on new mortgage set‑up, pay‑offs, and insurance.
• Assist in preparation of loan‑closing reports/papers for the attorney.
• Maintain application and approval records to comply with the “Home Mortgage Disclosure Act” for the credit union.
• Assist processors in reviewing real estate loan applications—e.g., ordering appraisals, credit reports, wood infestation reports, and income, employment, and deposit verifications.
• Conduct interviews with loan applicants to assist the loan processors as volume warrants.
• Other duties as assigned.

To perform this job successfully, an individual must be outgoing, enthusiastic, conscientious, group oriented, open to change, and be able to perform each essential duty satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Regulatory Requirements: This position has specific procedures that must be followed to comply with the Privacy Act, Office of Foreign Assets Control (OFAC), and Bank Secrecy/Patriot Act. You will receive annual training to keep you current on any changes to these policies/procedures to assure compliance. Failure to comply may result in termination and potential monetary penalties from the federal regulatory agency.

High school diploma; and at least two years of related experience and/or training in real estate lending; or an equivalent combination of education and experience in a related field.