Mortgage Loan Specialist

SAFE FEDERAL CREDIT UNION•Sumter, SC

About The Position

Perform quality assurance reviews (Post-Closing Audit, Pre-Funding Audit) to ensure mortgage loan processes and documents comply with applicable CFPB requirements and guidelines. Examine residential loan documentation to ensure completeness, accuracy and compliance with investor standards, and take corrective action as needed. Responsible for the maintenance of tax and insurance records on mortgaged properties and accurate and timely payment of real estate taxes and insurance on escrow and non-escrow accounts. Processes all disbursements for customer escrow accounts and provides assistance in resolving tax and insurance related issues. Assists with the day to day operations of the Mortgage Department, to include but not be limited to escrows, closings, subordinations, loan documentation and follow-up, quality control, tracking and reporting, and answering member’s basic mortgage questions.

Requirements

Outgoing, enthusiastic, conscientious, group oriented, open to change
Ability to perform each essential duty satisfactorily
Must follow specific procedures to comply with Privacy Act, Office of Foreign Assets Control (OFAC), and Bank Secrecy/Patriot Act
High school diploma
At least two years related experience and/or training in real estate lending; or equivalent combination of education and experience in a related field.

Responsibilities

Identify and resolve issues/errors in pre-funding and/or post-closing stage of loan file review, and take corrective action to bring loans in compliance with CFPB regulatory requirements.
Examining loan files for accuracy, completeness, and compliance with policies, internal requirements, investor and regulatory requirements.
Review and re-verify as needed income, tax returns, consumer credit reports, debt to income ratio, asset statements, loan-to-value ratio, employment, etc.
Evaluate loans with declined credit applications for accuracy based upon established risk parameters to ensure conformance with HMDA, regulatory requirements and product guidelines.
Analyzes escrow sufficiency to make sure escrowed funds are sufficient to make required payments.
Monitor hazard insurance for consistent and uninterrupted insurance coverage, including forced place insurance when required.
Ensures timely bill procurement and payments of real estate taxes.
Provides in person or by telephone, information concerning the mortgage loan process and procedures.
Posts to and balances real estate related general ledger.
Organizes pending files.
Prepares various pre-formatted reports.
Organizes and standardizes all the completed mortgage loan files.
Posts payments and disbursements from escrow funds as required.
Follows-up on post loan closing documentation.
Follows-up on new mortgage set-up, pay-offs, and insurance.
Assists in preparation of loan-closing reports/papers for the attorney.
Maintains application and approval records to comply with the “Home Mortgage Disclosure Act” for the credit union.
Assists Processors in reviewing real estate loan applications; i.e., ordering appraisals, credit reports, wood infestation reports, and income, employment and deposit verifications.
Conducts interviews with loan applicants to assist the Loan Processors as volume warrants.
Other duties as assigned.