Mortgage Loan Processor II

RAIZ FEDERAL CREDIT UNION • El Paso, TX

8d • $20 - $30 • Onsite

About The Position

The Mortgage Loan Processor II processes, audits, and maintains closed mortgage loan files while supporting members throughout the lending process. Reporting to the Mortgage Operations Manager, this role communicates with borrowers, Loan Officers, mortgage closers, and outside sources to gather documentation, explain the process, address questions, and ensure member needs are met. The processor reviews applications, disclosures, borrower and property documentation, credit information, title work, appraisals, and compliance alerts for accuracy and completeness, and prepares completed files for underwriting and closing. The position also assists with closing and funding activities, supports audits and procedural documentation, completes relevant training, and follows credit union policies and applicable lending regulations.

Requirements

• High school education or equivalent.
• At least 3 years of processing experience, or relevant certifications and/or technical skills in residential mortgage lending.
• Work experience should include loan processing, loan closing, and loan funding, as well as reading title work, Loan Estimates, Closing Disclosures, and appraisal reports.
• Demonstrated leadership and interpersonal abilities.
• Good communication and interpersonal skills.
• Critical-thinking and problem-solving skills.
• Attention to detail and ability to multitask.
• Proficiency with Microsoft Office and web-based applications.
• Ability to examine loan applications and disclosures for discrepancies and verify information against credit union policies and guidelines.
• Understanding of financial industry concepts and related laws and regulations, with ability to meet regulatory and compliance guidelines.
• Ability to review and analyze borrower documentation to determine income and repayment capacity for self-employed borrowers.
• Ability to conduct due diligence to identify possible fraudulent activity.
• Strong organizational and communication skills and thorough understanding of credit union lending programs, policies, and procedures.
• Ability to understand and interpret URLA, Underwriter Transmittal Summary, Loan Product Advisor (LPA), and Desktop Underwriter (DU) documents.
• Understanding of real estate terminology, mortgage lending practices, and mortgage loan requirements, including Conventional, ARM, FHA, VA, and USDA loans.
• Ability to follow applicable TILA/RESPA, ECOA, FNMA, FHMC, and FHLB processes and guidelines.

Nice To Haves

• College degree.
• Bilingual ability.
• Previous credit union experience.
• Knowledge of credit union products and services.

Responsibilities

• Review loan applications and disclosures for discrepancies and consistency with credit union policies and guidelines.
• Process, audit, and maintain closed mortgage loan files.
• Contact borrowers with a welcome call and letter within 24 hours after a file is assigned; explain the process and communicate information needed to process the loan.
• Coordinate with Loan Officers and members to meet member needs and communicate required information to process loans.
• Ensure initial Loan Estimates are accurate and complete, and review changes of circumstance, redisclosures, and updated rate-lock forms for TRID compliance.
• Read and interpret mortgage documents, purchase agreements, draw schedules, surveys, tax returns, pay stubs, asset and retirement account records, and mortgage insurance information.
• Review credit reports as needed to resolve inconsistencies identified in automated underwriting findings and ensure compliance with credit union guidelines.
• Verify addresses, businesses, and employers using USPS lookup and internet sources; obtain soft credit pulls, tax transcripts, and SSA-89 verifications through third-party vendors.
• Review appraisal reports for inaccuracies, including comparables, adjustments, repairs, foundation issues, and property value, and request a Scorecard.
• Follow up with outside sources to obtain outstanding documentation within turn-around-time standards.
• Maintain accurate pipeline information, including closing dates, lock expirations, estimated closing dates, and appraisal due dates.
• Review title reports or commitments and confirm matters have been cleared and easements meet investor guidelines before submitting files to underwriting.
• Complete final evaluation and analysis of loan files, address compliance alerts, upload documentation and conditions, update AUS, and submit files for underwriting approval.
• Assist the mortgage loan closer with closing instructions, closing disclosures, legal document requests, and loan funding functions.
• Notify the borrower, closer, and mortgage loan originator when the closing disclosure is ready for review; meet lock expiration dates or process extension requests in accordance with policy.
• Ensure incomplete, denied, or withdrawn loans meet regulatory requirements while in processing status.
• Collect and organize loan documents for internal and external audits.
• Create, update, read, and interpret processing procedure manuals and training guides.
• Complete courses and webinars related to mortgage processing and underwriting.
• Provide guidance to members and team members, give sound advice in members’ best interests, and help members understand complex topics.
• Attend annual BSA and CIP training and comply with applicable compliance training requirements.
• Follow TILA/RESPA, ECOA, FNMA, FHMC, and FHLB processes and guidelines, as well as other applicable laws and regulations.
• Perform other duties as assigned or identified.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED