Mortgage Loan Processor II

Come join our GTE Financial team!

We are looking for an organized, professional, analytical individual to join as a Mortgage Loan Processor II
. The Mortgage Loan Processor II reviews and analyzes documentation submitted by applicants for the approval of first mortgage and home equity loans. The Processor will act as the point of contact for members throughout the loan process. The Mortgage Loan Processor II ensures compliance with secondary market requirements, credit union guidelines, FHA and/or VA guidelines as applicable.

• Counsel and advise callers on new mortgage loan options and/or required documentation.
• Answers calls when presented directly and on ACD line assigned and returns voicemail messages the same day whenever possible and follows up with all members according to commitments made.
• Direct the loan to the Underwriters if it does not meet minimum standards or if it is required based on the loan product or situation as defined in the Product Guidelines.
• Communicate lending decisions and advise members of documentation needed to process a request. Keeps members engaged and informed until the loan is ready for closing. Follows up after closing to ensure questions are answered, and needs are met.
• Retains and enhances mortgage acumen and specifically maintain knowledge of mortgage products and services offered by the credit union.
• Reinforce the selling points of our loan types, rates, payments, and terms of mortgage products.
• Orders and follows up on vendor orders such as Title, verifications of employment, SS verification, and tax transcripts.
• Ensures disclosures and appraisals are received, and loans submitted to underwriting to be denied based on regulatory requirements.
• Ensure appraisals or any valuation report of subject property are compliantly delivered to members.
• Uploads valid documentation used to obtain loan approval.
• Knowledgeable in all facets of processing in accordance with guidelines for the Government Sponsored Enterprises (GSEs), credit union portfolio products, mortgage insurance requirements, FHA, and VA regulations.
• Responsible for verifying application data to ensure it is accurate including product type and the amount of mortgage, borrower assets, liabilities, and length of employment by utilizing documentation provided and required.
• Validates loan information to include verification of employment, verification of deposit accounts, and all liabilities to prepare an application for final approval and submits to underwriting to clear conditions as appropriate.
• Recommend counteroffers and recommend that loan denial when they do not meet minimum standards.
• Communicates to members any additional documentation required to meet guideline requirements.
• Ensures that all data is accurate in the loan origination system and the resulting findings from the automated underwriting system are in sync.
• Completes calculations as needed for Assets and Income (using W2s, Tax Returns, Paystubs) and updates loan software as appropriate.
• Reviews service orders for accuracy, such as:
  • Credit report to determine the credit worthiness of applicant based on industry standards for collateral/equity value- questions discrepancies and disputes.
  • Homeowner's insurance and flood insurance (if applicable) ensuring mortgagee clause is in favor of credit union and rating is B or better.
  • Flood certifications and other verifications to prepare a file for closing
  • title commitment for liens and legal description accuracy

• Perform all responsibilities in accordance with current organizational goals and standards.
• Completes path tabs in Encompass as shown in the Processing Procedure Manual.
• For the purpose of maintaining Credit Union goals, it is the responsibility of each employee to strive for the continuous quality improvement of processes and quality of service to internal and external customers.
• All work responsibilities are subject to having performance goals and targets established as part of the bi-annual performance planning review or as the result of organizational goal and production planning.
• Must demonstrate a functional knowledge of the Bank Secrecy Act in addition to other Federal…