Mortgage Processor

EastRise Federal Credit Union • South Burlington, VT

6h

About The Position

THE MORTGAGE PROCESSOR EFFICIENTLY AND ACCURATELY PROCESSES A MORTGAGE PIPELINE, IN ACCORDANCE WITH MORTGAGE AND CREDIT UNION GUIDELINES, WHILE MEETING VARIOUS DEADLINES AND MAINTAINING MEMBER SATISFACTION.

Requirements

• One year of similar or related experience, including preparatory experience.
• A high school diploma or equivalent.
• Must maintain active/current registration with the National Mortgage Licensing System (NMLS) throughout employment.
• A significant level of trust, credibility and diplomacy is required.
• Must be at least 18 years of age.
• Favorable Background, Credit, Criminal, Bondability, and Reference Checks required.
• Knowledge of State and Federal regulations affecting consumer loans.
• Knowledge of consumer loan policies, procedures, products, and services.
• Must be capable of regular, reliable and timely attendance.

Responsibilities

• Exhibits deep problem-solving and decision-making skills. Relies on various underwriting guideline resources and/or mortgage department manuals, as needed. Has awareness of when to brainstorm with fellow mortgage team members and/or third parties to resolve issues. Maintains knowledge of EastRise mortgage loan programs, secondary market guidelines, underwriting guidelines, and EastRise products and services.
• Maintain constant communication with borrowers via phone, email and mail from conditional approval to closing. Ensures borrower satisfaction through efficient and accurate processing of the loan, timely responses and by properly setting and delivering on expectations. Works in conjunction with the Mortgage Team to achieve maximum efficiency and best practices. Incorporates Member Relationship Development (MRD) into their daily practices.
• Exhibits attention to detail, organization, interpersonal and listening skills and has a strong customer service expertise. Tracks assigned mortgage pipeline to efficiently manage rate lock expiration dates, appraisal turn times, finance contingency dates, TRID compliance dates, and projected closing dates. Works overtime as needed to effectively manage the pipeline.
• Collects supporting loan documentation and evaluates income documentation, asset documentation, and appraisal reports to ensure they meet underwriting guidelines. Upload all documentation and update all information in the mortgage origination software with accuracy.
• Ability to explain and coordinate the loan qualification process, loan parameters, conditions required, alternatives available, deadlines to be met, the appraisal report and value, closing costs, cash due at closing, and the coordination of the loan closing via phone and email. Ability to explain complex scenarios and options via email, in an appropriate manner and tone, without grammatical or spelling errors.
• Issues Commitment Letters, Stop-the-Clock Letters, Adverse Action Notices, Loan Estimates, Closing Disclosures and Appraisal reports to borrowers within required regulatory timeframes. Restructure loan programs and loan parameters within underwriting and compliance guidelines. Orders credit reports, appraisals, title work and title commitments electronically. Prepare and submit verification forms for income, deposits and rent via phone, email, fax and mail. Provides coverage to other Mortgage Processors, on all items referenced above, as needed.
• Communicate effectively and maintain good working relationships with attorneys, title companies, realtors, appraisers, builders and other third-party vendors.
• Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED