Home Equity Processor Closer

Aberdeen Proving Ground Federal Credit Union•Bel Air, MD

5d•$21 - $26

About The Position

At the direction of the Member Loan Center Manager, The Member Operations Specialist II is responsible for: Reviewing home equity loan files for completeness and accuracy, issuing TILA/RESPA required disclosures within regulation timeframes, and timely and accurate preparation of closing documents and funding for all HELOC transactions. Other responsibilities will include entering correct loan fees in the Loan Origination System and ensuring their accuracy when displayed on the Loan Disclosure (LE), tracking incoming loan disclosures and supporting documents and facilitating forward movement of the subject loan files, approving the HUD-1 Settlement Statement / Closing Disclosure (CD), and validating that all conditions are satisfied for closing/funding while maintaining a high degree of member service. The role requires a high-degree of organization and attention to detail.

Requirements

Equivalent to High School education with additional specialized training equivalent to two years college. Experience can be credited in lieu of education. Associate Degree preferred.
Two to three years’ experience with financial institution products and services.
Loan interviewing and one to two years of loan disbursal experience preferred.
Detail-oriented and highly organized.
Excellent interpersonal and communications skills on the phone, in person, and written with the ability to convey information in a clear, focused and concise manner.
Ability to multi task in a fast paced fluid environment.
Possess a positive attitude and a desire to help people every day.
Proficient in all MS Office applications.
High level of integrity and confidentiality.
Knowledge of financial institution products, services and operations; excellent skills in communications, member/customer service, human relations, consumer lending knowledge very strong member/customer orientation; ability to work independently and as part of a team, solve challenges and make decisions; demonstrate flexibility and eagerness to learn and embrace challenge; Ability to plan and organize work, to obtain, analyze and compile data and to make corrective action recommendations.

Nice To Haves

Experience with HELOC/other consumer loans.
Solid understanding of TRID, RESPA, and HMDA, preferred.

Responsibilities

Manage loan pipeline to ensure TILA/RESPA disclosures are generated in compliance with federal regulations.
Distribute necessary disclosures on new loan applications.
Adhere to TRID, RESPA, Dodd-Frank and HMDA regulations.
Track incoming loan disclosures and documents and facilitate forward movement of loan files to Underwriting team.
Notify applicable parties of incomplete transaction information, corrections needed, and follow-up.
Assist with completion of third party orders.
Process appraisal fees and other upfront fees.
Ensure accuracy of home equity applications received via internet or branch representatives.
Correspond with member to resolve questions regarding home equity application information.
Advise when additional information and documentation required to complete application.
Act as contact for members inquiring about loan status.
Contact members to present alternative loan scenarios when original request cannot be approved.
Communicate final loan decision to applicant.
Consistently follow-up on pending applications
Review/Audit title binder.
Review/Audit the Good Faith Estimate / Loan Estimate and HUD 1 Settlement Statement /Closing Disclosure/ for tolerance violations
Log incoming HELOC applications.
Submit Mortgage loan documents for recording.
Assist IT with testing of software/system upgrades.
Assist other department positions as needed.
Check completed loan documents for quality control and follow-up.
Manage loan archiving.
Report loan problems or member complaints to Management.
Uphold adherence to underwriting loan approval conditions and stipulations.
Ensure pre-closing and pre-funding conditions are met.
Work closely with member and title company or title attorney to schedule settlement and/or resolve title issues
Communicate with title company or title attorney to gather information for accurate CD/HUD preparation; and coordinate delivery of the documents.
Approve final Closing Disclosure/HUD-1 in accordance with APGFCU guidelines, state and federal regulations.
Prepare mortgage/equity closing packages, including loan program specific disclosure(s) and applicable rider(s).
Prepare funds request so mortgage loan funds are delivered to the title company or title attorney for disbursement.
Manage closing issues regarding the closing process and escalate closing issues to management.
Order payoffs and obtain lien releases on mortgages being paid through loan settlement.
Follow up with attorney / Title Company for missing documents.
Order title updates and title insurance.
Ability to obtain an active registration number as a Mortgage Loan Originator from the Nationwide Mortgage Licensing System required within 6 months of starting in position.
Responsible for completion of applicable training and compliance on federal regulations and APGFCU policies and procedures as related to the duties of this position (Bank Secrecy Act, Information Security as examples, if applicable).