Mortgage Loan Processor III

OneAZ Credit Union • Phoenix, AZ

3d • Onsite

About The Position

Performs duties relating to the processing of mortgage loans. Responsibilities include ordering, receipt and review of title work, proof of insurance, appraisals, and required documentation in compliance with policy/guidelines, procedures and regulations. Completes these duties within the Home Loan Fulfillment service level agreements (SLAs) and commitment to member service. Ensures compliance with established credit union policies, guidelines and regulatory requirements. Utilizes independence in solving problems and making decisions. Works within established lending policies/guidelines, with complex or unusual situations being discussed with management. Ensures duties are carried out in an efficient and cost-effective manner. Efforts are focused on achieving maximum member service.

Requirements

• High School Diploma or GED (General Education Development).
• A two-year college degree or (2) completion of a specialized certification or licensing, or (3) completion of specialized training courses conducted by vendors or (4) job-specific skills acquired through an apprenticeship program.
• 3 to 5 years of similar or related experience.
• Three years to five years of similar or related experience.
• Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.
• Candidates for this position will be required to sign an authorization for OneAZ to conduct a credit and criminal background check, pursuant to procedures in the Fair Credit Reporting Act and any other applicable laws.
• Ensures compliance with applicable policies, laws, and regulations, including the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) compliance, USA Patriot Act, and Office of Foreign Assets Control (OFAC).

Responsibilities

• Assist the Processing Management with planning and organizing steps to ensure timely and accurate execution of a wide range of loan processing functions
• Provide training to orientate new staff and to inform continuing staff of new products and changes
• Serve as the day-to-day contact person for the borrower, loan officer, title company, underwriter, closer and possibly servicer to direct the workflow.
• Assist in coverage when other team members are out of the office, so member experience remains a high focus.
• Assist in ensuring workload is evenly distributed with a focus on expediting high quality loan applications.
• Perform a full range of mortgage loan processing steps for all mortgage product types by accepting an originated loan application and accurately complete all steps to ensure the loan package is fully prepared for closing.
• Communicate directly with the member to obtain the information and/or documentation necessary to make a loan decision.
• Utilize checklists, procedures and job aids to organize, request and prepare all essential documentation for the mortgage loan file from processing to closing; order and review credit reports, review content for inclusion and accuracy, including: general authorization, rate lock and servicing disclosure, wage and tax information, financial statements, legal documents such as divorce decrees and child support, construction documents; flood certificate, HMDA and other necessary or pertinent documentation; verify that required information has been mailed, including “TRID” disclosures and other necessary documents; review all documents for compliance and make necessary corrections, track documentation until applications are complete.
• Review flood certifications, appraisals and track for timeliness. Notify the member if the property flood zoning is questionable and obtain the full signed disclosure regarding the flood zone.
• Review the appraisal when received and verify the loan is properly repriced if the value changes from the stated value. Follow the appropriate guidelines. This includes analyzing income, debt, credit history and other factors; working with senior underwriters and secondary market representatives as needed to assist with gathering and processing documentation.
• Prepare the loan for closing; coordinate closing schedules with the borrower, title company and closing, as needed.
• Utilize checklists to ensure all essential documentation will be available at the closing.
• Verify loan input information for accuracy and completeness; complete electronic transmittal summaries, verifications for employment, gather deposit and loan information, and other supporting documents to include in the electronic application; prepare documentation for private mortgage insurance.
• Verify membership of applicants and whether current mortgage is in house or if concurrent with mortgage closing, coordinate closing processes when closing a home equity or subordinating a 2nd mortgage with the first lien mortgage.
• Process escrow holdback loan applications; verify holdback amount based on contractor bids and retain a cushion above the estimated costs to cover unexpected expenses that may arise.
• Process new build construction loan applications; responsible for the compilation of all documentation necessary to garner approval of a residential construction loan.
• Prepare and send documentation to members and other appropriate sources, contact applicant and other parties to follow-up or discuss requests for information, problems or other matters related to loan document processing.
• Maintain regular communication with members, settlement agents, title companies, loan officers, underwriters, other lien holders, insurance, credit bureaus and secondary market representatives regarding loan approvals; review conditions and follow as needed with the member and other contacts.
• Track and follow-up on documentation necessary to meet the pre-closing conditions and to close.
• Contact members and meet with them as needed to collect documents, assist with rate locks and any other paperwork needed for closing.
• Provide back-up coverage for processing and assist in department.
• Process all mortgage loans in a timely and efficient and accurate manner, including accurate entry of loan application information in the mortgage loan software programs.
• Stay informed about mortgage underwriting and processing standards, compliance and regulatory requirements.
• Develop an understanding of Credit Union philosophy, organization, bylaws, and operational procedures and comply with the requirements of the Bank Secrecy Act, AML, OFAC and all other applicable State and Federal Financial Institution Regulations.

Benefits

• Generous paid time off: paid holidays, floating holidays, personal days, vacation days, plus sick time
• Low-cost Medical, Dental & Vision plans
• Paid childcare assistance
• Award-winning 401K
• Gym fee reimbursement
• Tuition Reimbursement
• Student loan repayment

What This Job Offers

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