Mortgage Construction Processor
About The Position
The Mortgage Construction Processor will work with Mortgage Originator and Underwriters and Processing and Closing Managers to ensure mortgage loans are processed and closed in accordance with secondary market guidelines and/or Board Policy. They serve as a point of contact for borrowers, realtors, settlement agents and other 3rd parties. In this position, you will process and close 1st mortgage loans, and other moderately complex and niche loan types. You will analyze and interpret federal and state regulations, credit union policy, and secondary market guidelines for all real estate loans- conforming and non-conforming. You will also assist with training of staff and support the processing and closing units to ensure mortgage loans are processed in a timely and efficient manner. You will maintain mortgage pipelines and queues to ensure applications and assignments are being completed timely and accurately and inform your supervisor of concerns. Additionally, you will offer alternative and/or corrective options, when applicable, when loan documentation or terms of loan do not meet underwriting standards. You will also provide detailed comments/rationale on loans to the various mortgage committees when necessary to substantiate the request for approval or denial of a loan. You will perform in-depth review and analysis of appraisals, credit reports, title reports, insurance documentation, income documentation, tax return analysis, asset documentation, and commitment letter conditions with little to no supervision. You must comply with and meet all requirements regarding the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act, 12 CFR 365). Other duties as assigned.
Requirements
- High School (Required)
- Any equivalent combination of experience and education.
- Minimum 2 years of processing government-backed loans such as FHA, VA, and USDA, or Construction draw loans.
- Minimum 2 years or longer of secondary market, first mortgage processing and/or closing.
Responsibilities
- Processes and closes 1st mortgage loans, and other moderately complex and niche loan types.
- Analyze and interpret federal and state regulations, credit union policy, and secondary market guidelines for all real estate loans- conforming and non-conforming.
- Assists with training of staff.
- Supports the processing and closing units to ensure mortgage loans are processed in a timely and efficient manner.
- Maintains mortgage pipelines and queues to ensure applications and assignments are being completed timely and accurately and informs supervisor of concerns.
- Offers alternative and/or corrective options, when applicable, when loan documentation or terms of loan do not meet underwriting standards.
- Provides detailed comments/rationale on loans to the various mortgage committees when necessary to substantiate the request for approval or denial of a loan.
- Performs in-depth review and analysis of appraisals, credit reports, title reports, insurance documentation, income documentation, tax return analysis, asset documentation, commitment letter conditions with little to no supervision.
- Must comply with and meet all requirements regarding the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act, 12 CFR 365).
- Other duties as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
