Marine Credit Union - Davenport, IA

posted about 1 month ago

Full-time - Entry Level
Davenport, IA
Credit Intermediation and Related Activities

About the position

The Mortgage Loan Processor serves as a crucial liaison between members, Mortgage Loan Representatives, and the credit union, responsible for processing mortgage loan applications and ensuring compliance with regulations. This role involves coordinating with third-party contractors and maintaining accurate records throughout the mortgage loan process.

Responsibilities

  • Gather background information on loan applications and research discrepancies.
  • Initial review of HMDA entries for accuracy and completeness.
  • Accurately update mortgage loan tracking records.
  • Verify employment, assets, and credit history of loan applicants.
  • Review title work to ensure lien and ownership information is acceptable.
  • Review appraisal and flood certificates to ensure value and location meet loan requirements.
  • Maintain a filing system to monitor required documentation.
  • Send out credit notices to spouses when necessary.
  • Stack, review, and submit completed files to the underwriting department.
  • Coordinate with Mortgage Loan Representatives to gather and clear underwriting conditions.
  • Promote and provide excellent customer service by effectively communicating with customers.
  • Audit physical and electronic files for completeness and compliance.
  • Purge loan files by destroying out-of-date or unnecessary documents.
  • Ensure accuracy and completeness of loan file information processed.
  • Maintain compliance with policies and regulations.
  • Stay updated on changes in policies and regulations applicable to the mortgage industry.

Requirements

  • High School Diploma or GED required.
  • 1+ years of mortgage loan processing experience desired.
  • Knowledge of the mortgage loan process and associated documentation.
  • Knowledge of regulations and laws associated with residential lending.
  • Ability to determine incomplete, inaccurate, or missing information.
  • Strong computer skills and attention to detail.

Nice-to-haves

  • Associate's College Degree in Finance, Business, Math, Accounting, or related field is a plus.
  • Certifications related to Lending and Loan Processing are desirable.
  • Experience with consumer and commercial loan processes is a plus.

Benefits

  • Full-time position with potential for career growth.
  • Opportunity to work in a supportive team environment.
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