Mortgage Lending Intern

TENNESSEE VALLEY FEDERAL CREDIT UNI • Chattanooga, TN

11h • Onsite

About The Position

The primary goal of the Mortgage Lending Intern will be to introduce students to the various steps and processes of a mortgage loan from the selection of a property to closing, learning the differences in basic mortgage products, income calculations and requirements; while also helping the team with various tasks. This will be accomplished by job shadowing, assisting with various tasks, reviewing documents, and doing ratio calculations used in the approval process. The intern will also spend time with the servicing department to see what happens after a mortgage is closed.

Requirements

• Candidates must be 18 years of age
• Minimum 2.75 GPA on a 4.0 scale (must provide transcripts)
• Currently enrolled in an accredited college or university
• Rising sophomores, juniors, and seniors working toward a Bachelor's degree in Business or a related field
• Ability to work part-time or full-time hours for the summer (25-40 hours/week, generally 8am-5pm Monday-Friday)
• Able to commit to the full internship of 10 weeks (weekends may be required)
• If you are considered for an offer of employment at TVFCU, you must successfully complete a pre-employment screen that includes: Verification of education, employment and other pertinent data included on your employment application, and eligibility to work in United States. Criminal background check and drug screening. Pre-employment credit check required
• Pre-employment screening helps TVFCU provide a safe environment for our members and employees, minimize risk, and ensure federal compliance.

Responsibilities

• Review loan records for activity, loan maturity and accuracy.
• Compare hard copy files to electronic records to help identify new loan opportunities.
• Review sales contracts, mortgage credit reports, flood certifications, appraisals, title work, tax returns, and closing package documents.
• Work with loan officer assistants and loan processors in the day-to-day follow up required to trach outstanding items from third party providers in relation to obtaining loan approval.
• Calculate Debt to Income (DTI) and Loan to Value Ratios (LTV).
• Take online classes to get additional understanding on mortgage basics.
• Maintain knowledge of branch operations by completing Deposit Regulation and Product and Service Certification courses.
• Proactively demonstrate the TVFCU core values of integrity, honesty, flexibility, teamwork, leadership, accountability and strong relationships in every interaction with members.
• Perform other duties as assigned.

What This Job Offers

• Job Type: Part-time
• Career Level: Intern