Mortgage Loan Processor II
Candidates for this position will be required to sign an authorization for OneAZ to conduct a credit and criminal background check, pursuant to procedures in the Fair Credit Reporting Act and any other applicable laws.
All candidates will be considered for this position on an individualized basis, in compliance with all applicable equal employment opportunity laws.
Performs duties relating to the processing of mortgage loans. Responsibilities include ordering, receipt and review of title work, proof of insurance, appraisals, and required documentation in compliance with policy/guidelines, procedures and regulations. Completes these duties within the Home Loan Fulfillment service level agreements (SLAs) and commitment to member service. Ensures compliance with established credit union policies, guidelines and regulatory requirements. Utilizes independence in solving problems and making decisions. Works within established lending policies/guidelines, with complex or unusual situations being discussed with management. Ensures duties are carried out in an efficient and cost effective manner. Efforts are focused on achieving maximum member service.
Essential Duties and Responsibilities include, but not limited to the following:
- Perform a full range of mortgage loan processing steps for both home equity and 1st mortgage products by accepting an originated loan application and accurately complete all steps to ensure the loan package is fully prepared for closing.
- Communicate directly with the member to obtain the information and/or documentation necessary to make a loan decision.
- Utilize checklists to organize request and prepare all essential documentation for the mortgage loan file from processing to closing; order and review credit reports, review content for inclusion and accuracy, including: signed and dated application, general authorization, rate lock and servicing disclosure, wage and tax information, financial statements, legal documents such as divorce decrees and child support, construction documents; flood certificate, HMDA and other necessary or pertinent documentation; verify that required information has been mailed, including "TRID" disclosures and other necessary documents; review all documents for compliance and make necessary corrections, track documentation until applications are complete.
- Order flood certifications, appraisals (check to make certain of the correct type and location) and track for timeliness. Notify the member if the property flood zoning is questionable. Review and sign off on appraisals when received, enter pertinent information and process the appraisal bill.
- Follow the appropriate guidelines. This includes analyzing income, debt, credit history and other factors; work with senior underwriters and secondary market representatives as needed to assist with gathering and processing documentation.
- Prepare loan closing documentation; coordinate closing schedules with the Closing Supervisor as needed; utilize checklists to ensure all essential documentation will be available at the closing.
- Verify loan input information for accuracy and completeness; complete electronic transmittal summaries, verifications for employment, gather deposit and loan information, and other supporting documents to include in the electronic application; prepare documentation for private mortgage insurance.
- Process home equity loan applications; verify membership of applicants and whether current mortgage is in house or if concurrent with mortgage closing, coordinate closing processes.
- Process escrow holdback loan applications; verify holdback amount based on contractor bids and retain a cushion above the estimated costs to cover unexpected expenses that may arise.
- Maintain regular communication with members, appraisers, settlement agents, insurance, credit bureaus and secondary market representatives regarding loan approvals; review conditions and follow as needed with the member and other contacts.
- Track and follow-up on documentation necessary to meet the pre-closing conditions and to close. Contact members and meet with them as needed to collect documents and any other paperwork needed for closing.
- Process all mortgage loans in a timely and efficient and accurate manner, including accurate entry of loan application information in the mortgage loan software programs.
- Monitors assigned pipeline and report backlog, capacity and conflicts to the assigned supervisor or manager.
- Stay informed about mortgage underwriting and processing standards, compliance and regulatory requirements.
- Provide back-up coverage for processing and assist in department.
- Assist in the development and training of other staff members in processing
- Any individual who meets the definition of a mortgage loan originator and is employed by a federal agency-regulated institution will need to be registered on NMLS.
- Develop an understanding of Credit Union philosophy, organization, bylaws, and operational procedures and comply with the requirements of the Bank Secrecy Act, AML, OFAC and all other applicable State and Federal Financial Institution Regulations.
- Perform other related duties as assigned
Education and/or Experience
Associates degree in business or a related field desired with three to five years’ experience in a financial institution or other experience with document processing, or a comparable combination of education and experience.
Familiarity with credit union operations with mortgage processing experience required.
2355 W. Pinnacle Peak Rd., Phoenix, AZ 85027 USA