Mortgage Operations Intern (Summer Temp)
About The Position
The intern will have the opportunity to gain knowledge in a Mortgage Operations role, learning about the processing of residential real estate loans. Duties include preparing initial loan disclosures, reviewing and uploading files to the electronic document storage system, recording proper mortgage documents, ordering final title work, and delivering loan files to investors. Magnifi Financial offers a collaborative, friendly environment that supports employee growth and development, focusing on making dreams come true for its members. As a member-owned organization, Magnifi Financial has grown to more than 85,000 members, $2.5 billion in assets, over 400 employees, and over 26 branch locations throughout Minnesota and North Dakota, maintaining a focus on the members and communities they serve.
Requirements
- Pursing a 2-4 year degree with an interest in a finance or a business-related field.
Responsibilities
- Processes, delivers and funds basic in-house and secondary market loan applications onsite (including HELOC’s) according to investor guidelines, policies, procedures, and state and federal regulations, by reviewing early disclosures and change in circumstance disclosures, and clarifying or obtaining additional information.
- Ensures processing meets deadlines to meet member expectations.
- Sends early disclosures to members within three business days of receipt of the application.
- Learns and follows all investor and in-house guidelines, Credit Union policies, procedures, and state and federal regulations.
- Ensures deadlines are met to meet member expectations.
- Reviews and verifies that all proper compliance documents are in the file and uploads the completed loan package to the electronic storage system.
- Records mortgages, satisfactions, and subordinations for all real estate transactions on-site.
- Verifies all invoices related to the real estate transaction are paid and collected from the borrower at closing.
- Follows up and assures appropriate documentation will be received by investors within appropriate time periods onsite.
Benefits
- Paid Time Off (PTO)/Earned Sick and Safe Time (ESST) – Begin accruing upon date of hire.
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What This Job Offers
Career Level
Intern
Education Level
No Education Listed
Number of Employees
11-50 employees
