Licensed Mortgage Loan Processor

Apple Federal Credit Union•Fairfax, VA

1d•$27 - $34•Hybrid

About The Position

Under general supervision, but following established policies and procedures, is responsible for originating and processing fixed rate, conforming and non-conforming mortgage loan applications. Performs related file maintenance. Coordinates processing, closing and disbursement of mortgage loans. Works closely with Branch Staff, Mortgage Processor/Underwriter, Mortgage Servicer, Home Equity Processor/Underwriter, and Credit Committee. Performs duties and responsibilities in accordance with The Apple Way principles, of Team Up, Serve with Purpose, Challenge Yourself and Own It. Remains cognizant of and adheres to credit union policies and procedures, and regulations pertaining to the Bank Secrecy Act. Understands the goals set by management and assists in meeting those goals. Accepts and performs assignments varying in size and scope, as well as other duties assigned by Mortgage Processing Supervisor, Mortgage Lending Assistant Manager and/or Mortgage Lending Manager.

Requirements

Minimum three years mortgage processing experience.
Previous credit training required.
Knowledge of mortgage loan products and features required.
HS degree or equivalent.
Obtain and maintain a valid license number through the NMLS as required by the SAFE Act.
Excellent interpersonal skills.
Analytical ability to conduct preliminary analysis of an applicant’s financial condition.
Excellent analytical skills and attention to detail.
Excellent written and telephone skills.
P.C. proficient including: MS Windows, MS Office Suite (Word, Excel), and mortgage LOS software.
Ability to use standard office equipment, including, but not limited to: PC, fax, copier, telephone, postage machine, etc.
Ability to function in a financial institution environment.

Responsibilities

Processes conforming/non-conforming mortgage applications for member(s).
Processes mortgage applications that are originated by Apple FCU Mortgage Loan Originators, branch offices and/or MortgageBot (online application software).
Verifies income, employment, assets, down payments, debts and property value.
Calculates debt and LTV ratios.
Reviews mortgage credit report, property appraisal, condominium questionnaire and budget, flood certification, income, assets, funds due to close, earnest deposit clearing, private mortgage insurance, title commitments, surveys, termite inspections and all other required loan documentation.
Resolves all title issues including but not limited to; vesting issues, liens, judgments, undisclosed liens and re conveyances.
Processes subordination agreements, resolves appraisal disputes/issues and ensures collateral meets requirements for product, investors and Apple F.C.U.’s guidelines.
Ensures that all applications are complete, including preparation and issuance of required disclosures within compliance timelines.
Submits loans through Freddie Mac Loan Prospector automated underwriting system.
Orders private mortgage insurance, appraisal, HVE or AVM, final inspections, title commitment, flood certification and required documentation to process the mortgage loan.
Maintains accurate data in the loan origination system at all times.
Maintains tracking reports on each loan.
Reviews all mortgage loans on a weekly basis to ensure that each loan is processed in a timely manner.
Assists Originators with consulting the member in person, email and over the phone to ensure the correct mortgage product is chosen and is in the best interest of the member and the Credit Union.
Maintains a professional and courteous relationship with all members and vendors.
Works with the AFCU C.U. Realty Originator, C.U. Realty Real Estate Agents, and any/or all C.U. Realty Representatives to ensure the timely processing of all C.U. Realty purchase loans.
Preliminarily approves mortgage loans according to Freddie Mac Loan Prospector findings of “Accept”.
Reviews and obtains all requirements on the Freddie Mac Loan Prospector finding report and checklist.
Ensures all requirements per the finding are met, and the loan meets all requirements for the loan product per Freddie Mac, Private Mortgage Insurance Company, Apple FCU and the NCUA guidelines and/or regulations.
Preliminary approval of mortgage loans includes review of but not limited to: calculation of debt and LTV ratios, reviewing mortgage credit report, property appraisal, condominium questionnaire and budget, flood certification, income, asset, private mortgage insurance, title commitments, surveys, termite inspections and all other required loan documentation.
Prepares files for submission to the Mortgage Underwriter for preliminary/final approval.
Obtains all conditions from Member(s), Realtor, Title Company, Attorney, Private Mortgage Insurance Company or other source.
Coordinates and prepares pre-closing documentation.
Works with realtors, title companies and/or attorneys in conjunction with the closing process and documents.
Performs all loan file maintenance.
Assists the Mortgage Servicing Specialist with servicing file set up (as needed).
Assists and/or provides back up for the Equity Loan Processor when needed.
Completes required information on mortgage loan control sheet and submits completed package to Credit Committee (if applicable).
Helps train staff members with mortgage loan origination, processing and answers general questions with regard to mortgage loans.
Reviews mortgage loan policies and procedures on an ongoing basis and recommends improvements to management.