Mortgage Loan Processor III - External Real Estate

Redwood Credit Union • Napa, CA

1d • Onsite

About The Position

Redwood Credit Union is seeking an External Real Estate Mortgage Loan Processor III, who will support the external real estate sales group with the coordination, organization, and preparation of up to the most complex real estate loan transactions. This role is responsible for ensuring accurate and expeditious loan closings while providing superior Member service and working accurately and efficiently in a fast-paced environment. At Redwood Credit Union, our mission is to passionately serve the best interests of our Members and communities. Since 1950, we have been dedicated to supporting the financial well-being of our Members through better rates, low or no fees, and best-in-class customer service. Our purpose is to inspire hope and elevate the financial well-being of our communities one person at a time, through good times and bad. As a not-for-profit financial institution, we are committed to a people-first approach, which is reflected not only in how we serve our Members, but also in how we treat our employees. Our leadership team is deeply focused on fostering a culture of heart and empathy, integrity, passion, inclusion, meaningful relationships, excellence, and ensuring financial well-being for all.

Requirements

• Thorough knowledge of Internet-based loan origination software.
• Knowledge of secondary market investor requirements, compliance requirements, selling procedures and guidelines.
• Knowledge of Federal and State laws, rules and regulations related to real estate lending and credit unions.
• Knowledge of all residential mortgage loan products offered by RCU.
• In depth knowledge of processing real estate loan files to meet RCU and Fannie Mae standards.
• Skill in the operation of a PC with Word, Excel, Loan Origination Systems (Mortgage Cadence, etc.) Symitar, Desktop Underwriter.
• Ability to analyze situations and recommend workable solutions.
• Ability to communicate effectively both verbally and in writing.
• Ability to establish and maintain effective working relationships with diverse group of people, including vendors and other Credit Union team members.
• Ability to use judgment and discretion in making decisions.
• Ability to act independently and confidentially.
• Ability to obtain and maintain registration with the National Mortgage Licensing System and Registry in compliance with the requirements of Federal Law, including the SAFE ACT and NCUA part 761.

Nice To Haves

• Combination of education and experience equivalent to an associate degree, plus a minimum of five years of residential loan processing or underwriting experience for an outside sales team.

Responsibilities

• Collaborate and communicate directly with Member, when External Loan Officer is not able, to ensure loan is progressing and service is not impacted due to unavailability of ELO.
• Coordinate and effectively communicate with the External Loan Officer to ensure Member expectations are understood and met.
• Inform Members on the status of their loan applications, at least on a weekly basis, or more frequently as necessitated by Member expectations.
• Proactively interface with affiliates and vendors on purchase transactions to obtain contracts, addendums, inspection reports and confirm that deadlines are met and escrows are closed subject to contract dates.
• Utilize Lending Authority to approve and/or make recommendations for loan approval up to established limits.
• Issue compliance documents, exhibits and disclosures (Loan Estimate, Closing Disclosure, Appraisals, etc.) when necessary.
• Assist with locking loans within the LFC once pricing is confirmed with the Member and the External Loan Officer.
• Report daily of any problem or concerns with specific loan files to direct supervisor or Mortgage Manager.
• Propose new or improved processes that will increase efficiencies or improve the Member experience.
• Identify difficult, complex loan issues at or before application and apply RCU’s portfolio philosophy to structure loan, make recommendations and present to direct supervisor or Mortgage Manager.
• Attend or support external mortgage business development events as needed.
• Review mortgage loan applications to ensure accuracy, completeness, compliance with government, internal and investor standards.
• Accurately read and interpret underwriting /DU findings and Transmittal Summaries.
• Arrange for opening of escrows through title companies; order and review preliminary title reports for accuracy and acceptability.
• Order appraisal and all other third-party documents (I.E. tax service, flood certification and credit report as applicable. Review all such documents for accuracy and acceptability.
• Review appraisal reports to ensure that required level of appraisal fieldwork has been completed; that they are professional quality and are prepared in a way that is consistent with FNMA and RCU requirements.
• Verify all types of borrower income from basic paystubs to complex personal and business tax returns as required in DU messages and RCU procedures.
• Request and review proper documentation on all mortgage loans and work directly with borrower/Member to satisfy the requirements of the loan.
• Promptly identify issues raised in processing documents received that may impact qualifying and alert the External Loan Officer or Manager of potential issues and solutions.
• Prepare and submit a complete and accurate file to underwriting.
• Work directly with the Member to satisfy any underwriting conditions and all other relevant information necessary to complete the file.
• Take ownership of processing highly sensitive or uniquely complex loan files.
• Review Denials for opportunities to restructure or counteroffer loan applications.
• Identify expired counteroffers and send out Statement of Credit Denial and Adverse Action Letters as required.
• Answer and respond to telephone calls within established performance and service guidelines.
• Cross-Sell other Credit Union products and services that are appropriate to each Member on an as needed basis.
• Take actions necessary to address Member service requests after the loan has closed.
• Develop and utilize frequent pipeline management and reporting system in partnership with the External Loan Officer and managers to ensure superior Member service.
• Work with management in developing, implementing and maintaining effective daily operation of Loan Processing for the External Loan Officer Team
• Review and respond to any quality control reports and finding on mortgage loans and recommended corrections.
• Ability to train staff on the process and flow of the Real Estate Sales group.
• Provide general assistance to management in completing tasks and projects.
• Attend Sales Meetings to stay apprised of Loan Officer trends and feedback.

Benefits

• Competitive medical, dental, and vision insurance, mental health offerings
• Employee performance incentive plan
• Salary Advancement– Merit increase based on performance
• 401(k) program with employer match
• Time Off- Competitive PTO accrual plus 11 paid company holidays and your birthday off!
• RCU employees are eligible for a .75% discount off RCU standard collateral auto loans
• RCU employees are eligible for a 1% discount on all recreational or boat loan products
• 2% discount off Visas and LOC Loans through RCU
• 0% interest loan to support employees with various immigration related expenses such as visa application fees and relocation costs. Loan amount up to $1,000.
• 0% interest loan to support employees with expenses associated with the naturalization process. Loan amount up to $15,000.
• 0% interest on garment, fitness, or home office equipment loan of up to $500
• 100% financing for employee purchased homes!

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Associate degree
• Number of Employees: 101-250 employees