Equity Loan Servicing Specialist
About The Position
The position is responsible for the accuracy, content, and completeness of the mortgage application, related underwriting documents, and loan closing documents, within regulatory guidelines. The position is responsible for processing and funding of Closed End Second Mortgage and HELOC loans with a focus on accuracy and efficiency. Provides knowledge and superior service to branches and support segments via the department ACD line. Reviews and analyzes title documents, appraisal, flood certification, payoff information, insurance, and member information to ensure the loan is compliant and accurate. Responsible for working with multiple vendors during processing and when completing payoff requests. This includes but is not limited to title, appraisal, insurance, and other financial institutions. Requires to stay up to date with collateral titling changes in process and procedures to avoid member and CU risk and impact. Manages MeridianLink queues to meet service level agreements agreed upon with Consumer Lending Sales. Completes multiple quality checks of each application prior to the member’s appointment and loan funding to a ensure seamless funding and lien perfection while meeting compliance and regulatory guidelines. Assists with ongoing servicing questions after a consumer loan has been funded. Adheres to quality standards for consistent, high-quality service. Makes recommendations for the improvements of service quality and lending processes. Understanding of Consumer Lending policies, processes, and practices. Ensures individual and credit union adherence to policies and standard of business practices. Performs other job-related duties as assigned.
Requirements
- High School diploma or general education degree (GED).
- Three (3) years of experience in a financial institution or any related field.
- Understanding of Equity Products: Home Equity Line of Credit (HELOC) and fixed equity.
- Ability to process HPML equity loans to include setting up escrow accounts.
- Ability to understand current credit union underwriting guidelines.
- Ability to learn and understand compliance guidelines of various governing bodies (CFPB, FNMA, HUD, FHLMC).
- Ability to type 45 words per minute.
- Ability to read, write, speak, and use proper grammar in English.
- Ability to read and comprehend written instructions, correspondence, memos, and procedure manuals.
- Ability to communicate verbally on the telephone, speaking to members regarding sensitive inquiries or complaints.
- Ability to apply commonsense understanding when dealing with problems involving variables in standardized situations.
- Ability to calculate rates, ratios, income, and percentages.
- Must be registered with the Nationwide Mortgage Licensing System (NMLS or Registry) and obtain a unique identified (NMLS Number) in compliance with the federal Secure and Fair Enforcement for Mortgage Licensing (S.A.F.E.) Act of 2008, if acting as a Mortgage Loan Originator (MLO).
- Must maintain MLO registration on an annual basis and update any changes to registration information.
- Must provide unique identifier/NMLS Number upon request, before acting as an MLO, and through initial written communication with a member/residential mortgage loan applicant.
- Must maintain confidentiality and non-disclosure of confidential member information.
Nice To Haves
- One (1) year experience as an AFCU Personal Banker.
Responsibilities
- Processing and funding of Closed End Second Mortgage and HELOC loans with a focus on accuracy and efficiency.
- Provides knowledge and superior service to branches and support segments via the department ACD line.
- Reviews and analyzes title documents, appraisal, flood certification, payoff information, insurance, and member information to ensure the loan is compliant and accurate.
- Working with multiple vendors during processing and when completing payoff requests (title, appraisal, insurance, and other financial institutions).
- Staying up to date with collateral titling changes in process and procedures to avoid member and CU risk and impact.
- Managing MeridianLink queues to meet service level agreements.
- Completing multiple quality checks of each application prior to the member’s appointment and loan funding to ensure seamless funding and lien perfection while meeting compliance and regulatory guidelines.
- Assisting with ongoing servicing questions after a consumer loan has been funded.
- Adhering to quality standards for consistent, high-quality service.
- Making recommendations for the improvements of service quality and lending processes.
- Understanding of Consumer Lending policies, processes, and practices.
- Ensuring individual and credit union adherence to policies and standard of business practices.
- Performing other job-related duties as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
