Mortgage Processor I

Commonwealth Credit Union•Frankfort, KY

22h

About The Position

The Mortgage Processor I ensures the efficient and accurate handling of all loans within the Mortgage Department. This individual facilitates a smooth loan process by preparing and packaging loans to move swiftly from application to approval. Loan documentation is verified for accuracy and compliance with secondary market guidelines from investors, such as Freddie Mac and Federal Home Loan Bank (FHLB). The Processor ensures adherence to regulatory requirements, including Real Estate Settlement Procedures Act (RESPA), Truth in Lending Act (TILA), and Home Mortgage Disclosure Act (HMDA). They serve as the primary point of contact for members applying for Home Equity Line of Credit (HELOC) loans. In addition, they provide support to Mortgage Loan Originators handling First and Fixed Second Mortgages. Strong attention to detail and knowledge of lending regulations are essential to maintain compliance and loan quality. This role requires effective communication with internal teams and external stakeholders to resolve documentation issues and ensure timely closings.

Requirements

Registration in the National Mortgage Licensing System (NMLS) is required. If the individual is not currently registered, they will need to pass the applicable background screening to be registered.
Strong attention to detail and knowledge of lending regulations are essential.

Nice To Haves

Experience with MortgageBot POS/LOS, Meridian Link, Servicing Director

Responsibilities

Communicating effectively with all levels of staff, including management, peers, and cross-functional departments, ensuring clarity and professionalism in all interactions.
Communicating with members throughout the HELOC loan process, serving as the primary point of contact for members, ensuring that they are well informed of the status of their loan and all applicable loan-related information.
Calculating income using standard guidelines and ordering loan services, such as credit reports and verifications.
Verifying loan documents, including income and credit, for completeness and accuracy to help prepare the file for underwriting.
Originating and processing HELOCs by gathering required documents and ensuring accuracy and compliance, while delivering a positive member experience.
Staying abreast of all relevant laws and regulations to ensure ongoing compliance.
Completing all required compliance training and annual National Mortgage Licensing System (NMLS) certification in a timely manner.
Regularly consulting department policies, procedures, Freddie Mac guidelines, and organizational overlays for reference.
Effectively organizing daily tasks to ensure all loan and compliance deadlines are met with accuracy and timeliness.
Maintaining technical skills in all mortgage operational systems (MortgageBot POS/LOS, Meridian Link, Servicing Director), as well as any other software programs necessary for accurate job performance.
Enhancing expertise by actively pursuing development opportunities, including but not limited to, attending conferences, acquiring certifications, completing learning courses internally and through other relevant platforms, or engaging in both internal and external leadership programs