Home Equity Loan Coordinator

Wright-Patt Credit Union • Beavercreek, OH

1d • $21 - $31

About The Position

The Home Equity Loan Coordinator is responsible for ensuring fast and efficient processing of all second mortgage products including lines of credit, closed-end, bridge, and piggyback loan applications during the processing and closing stages of the loans. This position is crucial to ensuring this multi‐step process is compliant with all federal regulations, second mortgage loan disclosures and documents are completed accurately, and loan fulfillment is completed timely for our members.

Requirements

• Knowledge of credit reports, proof of income, proof of insurance (homeowner’s, condo, and flood), property appraisals, title abstracts, flood certifications, property deeds, memorandum of trust, recorded power of attorney, or other supporting documents.
• Understanding of federal regulations, credit union policies, management practices, underwriting instructions and stipulations.
• Familiarity with title curative measures including mortgage liens, judgments and other liens.
• Knowledge of federal and state regulations pertaining to second mortgage lending, such as Regulation B, Regulation C, Regulation F, Regulation G, Regulation P, Regulation V, Regulation X, and Regulation Z, and Bank Secrecy Act (BSA).
• Knowledge of second mortgage loan product guidelines.
• Ability to coordinate activities with Member Centers, Member Help Center, appraisers, title companies, insurance companies, online closing vendors and other vendors.
• Ability to review daily pre-disclosure reports.
• Ability to review LOCs for required in-person disclosures or any automated failures.
• Ability to review, prepare, and issue all Loan Estimates and pre-disclosures on all closed-end fixed applications.
• Ability to communicate with partners to ensure applications have correct information/dispositions and notes indicating pre-disclosure status and/or issues.

Nice To Haves

• Experience in processing second mortgage products including lines of credit, closed-end, bridge, and piggyback loan applications.
• Experience in assisting with title curative measures.
• Experience in providing extraordinary service to Partners and members.
• Experience in training frontline partners.

Responsibilities

• Ensures all steps of processing home equity lines of credit are completed by ordering, collecting, analyzing, and validating information such as credit reports, proof of income, proof of insurance (homeowner’s, condo, and flood), property appraisals, title abstracts, flood certifications, property deeds, and other mortgage‐related documents such as memorandum of trust, recorded power of attorney, or other supporting documents while ensuring compliance with all federal regulations, credit union policies, management practices, underwriting instructions and stipulations. Reports gaps in policies, procedures, and operating controls to leadership to ensure member impact and risk is mitigated.
• Assists with title curative measures including mortgage liens, judgments and other liens, and other items that may propose risk to WPCU’s lien position. Assists with identifying necessary deed corrections and communicating what is needed to complete home equity processing.
• Creates a seamless transition through the various stages of the second mortgage process. This includes taking the application from the Financial Coach and continuing timely communications with the members up to and including coordinating a closing date with members while meeting expected turn times.
• Responsible for knowing, understanding, and complying with all federal and state regulations pertaining to second mortgage lending, such as Regulation B, Regulation C, Regulation F, Regulation G, Regulation P, Regulation V, Regulation X, and Regulation Z, and Bank Secrecy Act (BSA).
• Provide extraordinary service to Partners and members. Develop and maintain a vast knowledge of the second mortgage loan product guidelines for quick and accurate answers to Partners and members. Coordinates activities by effectively working with Member Centers, Member Help Center, appraisers, title companies, insurance companies, online closing vendors and other vendors and maintains knowledge of each of these areas to make sure the overall member experience is exceptional.
• Reviews daily pre-disclosure reports to ensure all automated disclosures have been processed. Reviews LOCs for required in-person disclosures or any automated failures to ensure each applicant receives pre-disclosures in accordance with federal regulations. Reviews, prepares, and issues all Loan Estimates and pre-disclosures on all closed-end fixed applications in accordance with federal regulations. Communicates with partners to ensure applications have correct information/dispositions and notes indicating pre-disclosure status and/or issues to ensure federal regulations are met.
• Assist with training opportunities for frontline partners as they arise.
• Other duties as assigned by Leadership.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed