Home Equity Loan Analyst

Rockland Federal Credit Union • Lowell, MA

259d

About The Position

Under the direction of the AVP/ Residential Lending, responsible for application input, disclosing and processing all branch and online originated home equity loans. The position involves working both independently and collaboratively as a team with branches, attorneys, closing, loan servicing, and operations teams to ensure a smooth process from application to closing. The role requires partnering with management to ensure all loans meet regulatory guidelines and appropriate conditions are obtained. The individual strives to ensure a frictionless member experience throughout the loan cycle by communicating key updates to the member and branch, such as loan decision, condition requirements, and loan status. Responsibilities also include following up and reviewing required underwriting conditions with members, signing off on conditions as appropriate, reviewing new HE applications for completion, and preparing and sending any additional required disclosures throughout the process. The individual will manage an assigned pipeline of loans ensuring required timelines are met and that all compliance requirements are met on every file. This includes ordering appraisals, flood certifications, title work, verifications, and credit report updates as required. Proper maintenance of Encompass throughout the application process is also necessary, including updating income, credit, and collateral information based on documentation received throughout the loan process. The role may require providing rates and repayment schedules on mortgages, accepting applications, and performing other duties requiring NMLS credentials.

Requirements

• High School diploma or equivalent.
• 3 years' experience in loan processing, closing, servicing, or underwriting environment.
• Strong analytical, organizational, and detail-oriented skills.
• Excellent written and spoken communication skills.
• Experience using Encompass Loan Origination System (LOS) preferred.
• Excellent computer skills in Microsoft Windows Environment including Outlook, Word, and Excel.
• Knowledge of federal and local regulations concerning lending activities.
• In-depth knowledge of home equity products, policies, and procedures.

Responsibilities

• Application input, disclosing and processing home equity loans.
• Work independently and collaboratively with branches, attorneys, closing, loan servicing, and operations teams.
• Ensure all loans meet regulatory guidelines and appropriate conditions.
• Communicate key updates to members and branches regarding loan status.
• Follow up and review required underwriting conditions with members.
• Sign off on conditions as appropriate.
• Review new HE applications for completion and follow up with originating branch representatives.
• Prepare and send additional required disclosures throughout the process.
• Manage assigned pipeline of loans ensuring required timelines are met.
• Ensure all compliance requirements are met on every file.
• Order appraisals, flood certifications, title work, verifications, and credit report updates.
• Maintain Encompass throughout the application process.

Benefits

• Cigna medical benefits.
• Dental benefits.
• Vision benefits.
• 401(k) plan with company match and profit-sharing potential.
• Flexible health and dependent care plans.
• Life, AD&D, and LTD insurance.
• Generous and flexible tuition reimbursement program.
• PTO package designed to help employees recharge and enjoy time with family and friends.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: High school or GED