Loan Processor II

LBS Financial Credit Union•Westminster, CA

12h•$28 - $36

About The Position

Residential Lending Loan Processor/Underwriter II is a mid-level position for applicants who have prior knowledge of mortgage loan processing and underwriting. The position is responsible for processing and underwriting all mortgage loans including 1st Trust Deed Refinance and Purchase loans and Second Trust Deeds and HELOC’s by evaluating the mortgage loan application information in accordance with established departmental procedures and utilizing Fannie Mae’s Desktop Underwriting system when applicable.

Requirements

Minimum: High School Diploma or equivalent.
Minimum of 3-5 years of experience in residential lending processing including credit and appraisal evaluation.
Familiarity with LOS system FICS and online systems that are key to processing and underwriting a loan.
Excellent organizational and priority skills to manage time sensitive jobs.
Ability to accurately perform mathematical calculations and use necessary business machines and desktop computer skills with a working knowledge of Microsoft Office.
Ability to communicate effectively both verbally and in written form.

Nice To Haves

Preference: One to two years college education in a business-related field or equivalent knowledge, plus additional training in the financial field.
Education or certificate in residential lending or a related field such as mortgage banking or real estate sales/brokerage or equivalent experience.
Bilingual: English/Spanish a plus.

Responsibilities

Perform loan processing functions for first mortgage refinances and purchases and HELOC/2nd TD mortgage loans in accordance with established departmental procedures and policies.
Review and adhere to all Fannie Mae agency guidelines for processing and underwriting. Keep current with agency bulletins and updates to produce a saleable loan to the Credit Union’s investors.
Evaluate appraisal reports, credit reports, preliminary title reports and all documentation in the loan file to ensure compliance with current regulatory rules and regulations, credit union policies and procedures and as applicable, guidelines for the credit union’s portfolio, the secondary market and/or third-party investors.
Complete a full review of all data input by the set up person in Loan Producer and fill in all required fields as applicable and review all fields for accuracy and compliance.
Must be proficient in investor programs and pricing as well as all portfolio programs and pricing by staying up to date on all changes as they happen.
Assemble a fully processed and documented loan file and submit the loan package to the Operations Manager for final underwriting and approval staying within the department goal of closing all loans within 30 days of the registration date in LP.
Adhere to all regulatory standards regarding residential lending and credit union policies governed by NCUA, DBO and HUD.
Perform other related duties and responsibilities as assigned by management.