Mortgage Loan Processor

Virginia Credit Union•Roanoke, VA

4d•Onsite

About The Position

The primary function of this role is to process first mortgage loan applications for all residential and land loans to ensure compliance with secondary market and Virginia Credit Union (VACU) corporate policies and procedures. This involves providing quality member service, assisting mortgage loan officers, and communicating with members regarding application status. The role also includes processing full documentation loans, reviewing and preparing loan documentation, maintaining an understanding of investor and VACU requirements, and updating the mortgage loan origination system. Additionally, the position requires compliance with various regulations and policies, and assisting with testing new system releases and investigating audit exceptions.

Requirements

High School graduate.
Prior residential mortgage origination experience (conventional and government) preferred.
Prior experience that demonstrates proficiency in processing conventional mortgages, including refinances and purchases.
Working knowledge of conventional residential mortgage guidelines, products, and terms.
Knowledge of government-related mortgage guidelines is preferred.
Strong oral and written communication skills.
Ability to make sound decisions.
Ability to work in a deadline-oriented environment.
Strong problem-solving skills.
Excellent organizational skills.
Good problem-solving skills.
Good stress management skills.
Excellent organizational skills.
Detailed oriented.
Team player.
Ability to interpret VACU and FNMA origination policies, products, and an understanding of Rate Lock policy.
Computer experience preferred but not required.

Nice To Haves

Prior residential mortgage origination experience (conventional and government).
Knowledge of government-related mortgage guidelines.
Computer experience.

Responsibilities

Provide quality member service to meet the standards set by Mortgage Lending management and the Member Experience team.
Assist mortgage loan officer with member communication from initial application through closing to ensure a smooth mortgage process.
Communicate with the member regarding application status, including approval, denial, and requests for additional documentation.
Prepare and mail loan documents, including approval letters.
Communicate with mortgage loan officers, underwriting, and closing about file status and any issues or concerns with the loan.
Process all full documentation loans (purchase and refinance) specializing in Fannie Mae, conventional mortgages.
Review, calculate, and prepare loan documentation necessary to prepare the loan for underwriting (e.g., income documents, bank statements, credit reports, employment history, underwriting reports, reserves, cash to close, and federal government exclusionary lists).
Maintain an excellent understanding of investor and Virginia Credit Union (VACU) requirements for a variety of loan products, including conventional (traditional and non-traditional) and government lending.
Maintain an understanding of state-specific loan and closing traditions to ensure loans close on time.
For converted pre-approval loans, prepare files for submission to underwriting and closing to ensure the application meets secondary market standards or VACU guidelines.
Update the mortgage loan origination system on a timely basis.
Assist with the preparation and scheduling of residential loan closings.
Comply with Regulations B, C, X, and Z regarding the completion, preparation, issuance, and delivery of required disclosures, including the Good Faith Estimate, Truth in Lending, Potential Transfer of Servicing, and Adverse Action forms, as well as FACT and FDPA (Flood).
Ensure data integrity and accuracy of all loans as measured by the number and severity of audit exceptions reported monthly by external and internal audit teams.
Comply with all published enterprise-level policies and procedures, including Risk Management policies.
Complete all required, ongoing enterprise-level training, including BSA, OFAC, and Information Security.
Report all Risk Management Policy violations in accordance with policy.
Maintain excellent working relationships with Sales, Processing, Underwriting, and Closing team members.
Assist with testing the mortgage loan origination system's new product and program releases and updates/upgrades as needed.
Assist management in investigating audit exceptions and formulating responses.
Assist Post Closing in obtaining outstanding documentation for all closed mortgage loans.
Contribute towards team and departmental goals.
Perform other duties as may be required and assigned.