Mortgage Loan Processor II

Valley Strong Credit Union•Bakersfield, CA

About The Position

The Mortgage Loan Processor II (MLP II) will act as support staff to the Mortgage Loan Officer (MLO) and/or the Senior Mortgage Loan Officer (SMLO). The MLC II will assist in the processing of mortgage loans including but not limited to 1st mortgage and equity products from the beginning stages of application processing through the completion of 1st and Equity mortgage Real Estate loan packages up to and including funding. This is a high pace position, and the employee must meet performance standards.

Requirements

Ability to read and comprehend instructions, short correspondence, and memos.
Ability to write simple correspondence.
Ability to effectively present information in one-on-one and small group situations to Members and other Team Members at the organization.
Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.
Ability to compute dividends and interest.
Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.
Ability to interpret a variety of instructions furnished in written or oral form.
The Team Member occasionally must lift and/or move up to 10 pounds.
Ability to stand for long periods of time.
Must be able to process transactions in an efficient manner.
Must be able to communicate policies and procedures to Members in an easily understood and professional manner.
Must comply with all Bank Secrecy Act (BSA) and other Anti-Money Laundering (AML) laws and regulations, as they pertain to federal guidelines and internal policies and procedures.

Nice To Haves

2 Year / Associate's Degree Or equivalent from two-year college or technical school desired but not required; or one year or more credit union experience and/or training; or equivalent combination of education and financial services experience.

Responsibilities

Review and verify mortgage loan applications for accuracy and completeness
Receive telephone and email inquiries from potential applicants, answers questions, providing information regarding home loan products, quotes rates, fees and payments. Schedule real estate appointments and advises applicants of what documentation is required.
Request additional information from outside agencies such as appraisals, preliminary title reports, verifications of employment, deposit, mortgage and rent, property tax information, hazard insurance policies, IRS Transcripts, Flood Cert, Private Mortgage Insurance (PMI) Cert, and additional documentation as needed.
Analyze credit reports, income documentation, and asset statements
Act as liaison between Credit Union and loan applicant while loan request is being processed and reviewed.
Enter data into the Loan Origination System (LOS). Post fees to the General Ledger accounts.
Finalize loan file for the MLO and/or SMLO to review, then submits to the Underwriter for Final Underwriting. Clears underwriting conditions and prepares loan for Final Documents.
Set up loan for funding and prepare final figures to Accounting for the Wire transfer.
Prepare loan documents for uploading to the Virtual Loan Folder.
Other duties may be assigned.
All team members must comply with regulatory compliance and assigned training requirements including but not limited to BSA regulations corresponding to their specific job duties. This includes the SAFE Act.
Performs other duties as assigned.