Home Equity Processor

Transportation Federal Credit Union•Alexandria, VA

19d

About The Position

The Home Equity Processor, I, II assists members with their loan applications; process and make loan disbursements. Duties: Reviews residential loan application files to verify that application data is complete and meets credit union standards, state, and federal regulations, including but not limited to loan type and loan amount , loan to value, borrowers' employment and income, and liabilities; recommends that loans not meeting standards be denied. Requests and obtains verifications of employment, title work, title insurance, and appraisal; informs supervisor of discrepancies in title and/or appraisal reports. Address and clears all alerts, including address discrepancies, social security number discrepancies, and other fraud alerts. Provides prompt, accurate, courteous, friendly, timely and professional service to all members and Credit Union associates. Gathers all required documentation for underwriting; returns call within goals set for response times. Cross sells credit union products and services; maintain working knowledge of all mortgage and consumer loan products and rates, both within the credit union and from the industry overall. Submits complete mortgage loan application files for underwriting approval. Arranges closing with member or settlement company and makes disbursements. Prepares and provides approval and denial letters to applicants. Organizes and performs post-closing tasks, ensures quality control guidelines are followed. Ensures compliance with all TILA RESPA processes and deadlines. Records data on status of loans, including number of new applications and loans approved, canceled, or denied. Mortgage Loan Originators employed by the credit union must: Register with the Registry as required by the S.A.F.E Act and maintain their registration; MLOs must provide MLO unique identifiers to consumers. MLOs are required to comply with all aspects of the SAFE Act requirements. Adhere to credit union policies and procedures; stays knowledgeable of and complies with applicable laws and regulations, including but not limited to BSA/AML and OFAC, Regulation Z, Truth in Lending act, TILA-RESPA, HMDA, ECOA, and Regulation B.

Requirements

Six months to two years of similar or related experience.
A high school education or GED.
A significant level of trust and diplomacy is required, in addition to normal courtesy and tact.
Must have good communication skills (verbal and written).
Proficient in using general office equipment such as computers, copiers, scanners, and calculators.
Familiar with MS Office software (Word and Excel).

Responsibilities

Reviews residential loan application files to verify that application data is complete and meets credit union standards, state, and federal regulations
Requests and obtains verifications of employment, title work, title insurance, and appraisal
Address and clears all alerts, including address discrepancies, social security number discrepancies, and other fraud alerts
Provides prompt, accurate, courteous, friendly, timely and professional service to all members and Credit Union associates
Gathers all required documentation for underwriting; returns call within goals set for response times
Cross sells credit union products and services
Submits complete mortgage loan application files for underwriting approval. Arranges closing with member or settlement company and makes disbursements
Prepares and provides approval and denial letters to applicants
Organizes and performs post-closing tasks, ensures quality control guidelines are followed
Ensures compliance with all TILA RESPA processes and deadlines
Records data on status of loans, including number of new applications and loans approved, canceled, or denied
Adhere to credit union policies and procedures; stays knowledgeable of and complies with applicable laws and regulations