Mortgage Loan Opener (San Diego or Glendale)

CALIFORNIA FEDERAL CREDIT UNION•Glendale, CA

1d•$25 - $32•Onsite

About The Position

Under general supervision, this role initiates the loan process by reviewing initial loan applications for accuracy, producing initial disclosures and re-disclosures in accordance with TRID regulations, reviewing documents, ordering services, and preparing loan files for processing. The position requires excellent service to members (external and internal) by completing the up-front loan process timely, efficiently, and with minimal errors. The Loan Opener is responsible for examining the initial loan application and supporting documents for completeness and accuracy, disclosing files according to TRID regulations, and ordering and preparing necessary documentation such as credit reports, appraisals, escrow/title work, and insurance information. The role involves organizing the loan file within the CCU’s LOS system, tracking progress, ensuring timely completion of tasks, and following up on outstanding items. Open communication with stakeholders like loan officers, processors, AMC’s, escrow/title companies, and other parties involved in the loan process is essential. The position ensures all loan documentation and processes comply with current regulations and company policies. Files are prepared for processing by inputting loan information into LOS (Loan Origination System) and AUS (Automatic Underwriting System). The role reviews and evaluates DU findings, credit reports, income, and asset documentation before forwarding the file to processing, and orders 3rd party reports and validates information as required. Initial disclosures and re-disclosures (COC’s) are produced within required time frames and according to TRID regulations. The Loan Opener acts as the primary contact for the loan officer to follow up on all up-front responsibilities and maintains communication with the processing manager and loan officers regarding the status of loans with issues or those not moving through the pipeline in a timely manner. Secondary accountabilities include performing other duties as assigned and complying with BSA requirements.

Requirements

High school diploma or equivalent required
A minimum of 2 years of experience in mortgage loan processing or mortgage related role
Experience with loan origination systems (LOS) and document management software is required
A strong understanding of federal and state lending regulations (e.g., TRID) is necessary
Excellent member service skills to include both written and verbal communication.
Must be accurate, detail-orientated and possess problem solving skills along with time management, ability to prioritize and be highly organized.
Must have computer literacy, ability to manage email inbox/communications and be proficient in using loan origination software and other relevant computer systems.
Must be dependable, self-motivated and require minimal supervision.
Able to handle competing priorities.
Requires a strong working knowledge of mortgage lending, mortgage loan terminology, documentation, lending policies, guidelines, and investor requirements.
Must be proficient in FNMA D/U and major Loan Origination and Document Preparation system.

Nice To Haves

Credit union experience preferred
Minimum of two to three years of work experience as a Mortgage Loan Opener, Mortgage Loan Processor or equivalent in a financial institution, Credit Union preferred.

Responsibilities

Examine the initial loan application and supporting documents to ensure completeness and accuracy.
Disclose files in accordance with TRID regulations.
Order and prepare necessary documentation, including credit reports, appraisals, escrow/title work, and insurance information.
Organize the loan file within CCU’s LOS system, ensuring all documents are properly categorized and accessible.
Track the progress of loan files, ensuring timely completion of tasks and following up on any outstanding items.
Communicate openly with stakeholders such as loan officers, processors, AMC’s, escrow/title companies, and other parties involved in the loan process.
Ensure that all loan documentation and processes comply with current regulations and company policies.
Prepare files for processing by inputting loan information into LOS (Loan Origination System) and AUS (Automatic Underwriting System).
Review and evaluate DU findings, credit reports, income and asset documentation prior to forwarding the file to processing.
Order 3rd party reports and validate information as required by the loan process.
Produce initial disclosures and re-disclosures (COC’s) within required time frames and according to TRID regulations.
Act as primary contact for loan officer to follow up on all up-front responsibilities.
Maintain communication with processing manager and loan officers regarding the status of loans with issues or not moving through the pipeline in a timely manner.
Perform other duties as assigned.
Comply with BSA requirements as commensurate with position.