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PURPOSE – Responsible for the processing and funding of First and Second mortgage transactions in compliance with credit union policy, regulatory requirements and secondary market lending parameters. ESSENTIAL FUNCTIONS – The following are essential functions of this position, but are subject to change based on operating necessity.
¿ Process and fund new First and Second mortgage loans.
¿ Responsible for the timely and accurate coordination, processing and closing of assigned loan files, including opening escrow, ordering appraisals and reviewing and interpreting automated and manual underwriting findings.
¿ Review Desktop Underwriter (DU) verification messages/approval conditions on first lien loans. Verify the accuracy and integrity of all loan data entered into the system including but not limited to names, addresses, government monitoring information, loan information (e.g. loan amount, interest rate, terms, lock expiration dates, assets and income).
¿ Ability to analyze self-employment and rental income.
¿ Request and manage the timely return of required documentation from members including all third-party documents required for loan approval, including real estate appraisals, escrow and title services, verification of deposits etc.
¿ Order and review title reports, flood certificates, home insurance and appraisal for compliance to secondary market guidelines and Credit Union policy.
¿ Verify income and assets as required in the DU verification messages and the Credit Union procedures.
¿ Monitor status of documents from receipt to recordation and filing to include pre-boarding and funding of loans on the Symitar System or sale on the secondary market.
¿ Setup loan files for submission to underwriting, including scanning/uploading all necessary documents.
¿ Review and enter HMDA data for government reporting.
¿ Handle telephone contact from members in a timely manner.
¿ Process payoff demands, reconveyances, auto equity conversions, subordinations and paid off mortgages.
¿ Actively pursue cross sell opportunities to offer and promote the Credit Union array of products and services.
¿ Complies with all federal and state laws, as well as organizational policies, procedure and processes, including (but not limited to) those related to the Bank Secrecy Act (BSA), Identity Theft Red Flags, Office of Foreign Assets Control (OFAC), and the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act.
PACIFIC SERVICE CREDIT UNION MORTGAGE FUNDING PROCESSOR
¿ Identify and recommend ways to continuously streamline or improve the work process and/or the work environment.
¿ Enthusiastically provide support for credit union mission and goals. MARGINAL FUNCTIONS:
¿ General clerical duties as assigned.
¿ Assist other departments where appropriate when assigned by supervisor.
ABILITIES, QUALIFICATIONS AND ENVIRONMENTAL FACTORS:
¿ General knowledge of real estate lending to include regulatory compliance.
¿ Knowledge of Symitar, Calyx and Appro helpful.
¿ Accurate interpretation of title reports, appraisals, and credit reports.
¿ Ability to communicate effectively both verbally and in writing.
¿ Proficiency in computer programs (e.g., Microsoft Office, Windows, Word, Excel and Outlook).
¿ Ability to coordinate a variety of activities simultaneously and prioritize work.
¿ Proven sales ability and member service skills.
¿ Previous Credit Union or financial institutions experience.
¿ Must be eligible to obtain and maintain valid registration with the National Mortgage Licensing System and Registry in compliance with the requirements of federal law and the SAFE Act.
¿ Ability to establish and maintain effective working relationships with a diverse group of people including vendors and other Credit Union employees.
¿ Ability to effectively work at a fast pace and in a changing environment required
¿ Ability to use keyboard, 10-key calculator and all other general office equipment RELATIONSHIPS Reports to the Assistant Vice President and Manager of Real Estate. Works directly with members, third-party vendors and credit union staff of all levels. This position has no supervisory authority. COMPENSATION: Non-exempt position. Hourly range: $19.90 to $28.43 per hour (annual equivalency of $41,400 to $59,150) plus an annual organization discretionary bonus of 0-8% of paid base salary.
ControlID: 14.234.89 SHR
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