Mortgage Processor
About The Position
At USALLIANCE, we pride ourselves on innovation, teamwork, training and development and career planning. We are a unique members-first Credit Union Culture driven by our core Values: Trust, Collaboration, Achievement and Making a Difference. As part of our team, you will have the opportunity to grow both personally and professionally in an inclusive and supportive environment. Represent USALLIANCE in the community and form lasting relationships with our members and partners. About this role: Responsible for the timely processing of all mortgage loan applications received by Credit Union through multiple lending channels in compliance with Federal, State and Local Regulatory Requirements, within established timelines to meet loan closing deadlines.
Requirements
- Minimum 1-3 years current Conventional Mortgage Loan Processing experience.
- Processing loans through Encompass LOS experience preferred.
- Ability to multi-task and process high loan volume in fast-paced system & technology based.
- environment; encouraging and cultivating continuous process improvement.
- In-depth understanding of current Regulatory Requirements relative to TRID, as well as other State and Federal Regulatory requirements.
- Experience generating and reviewing Loan Estimates (LE's).
- Working knowledge and understanding of Fannie Mae Guidelines and AUS.
- Strong attention to detail is critical to success in the role.
- Excellent written and verbal communication skills.
- Candidate will be highly positive, proactive, self-motivated and possess the ability to effectively manage their time with competing task.
- Candidate must be able to work from our Chelmsford, MA location.
Responsibilities
- Provide strong verbal and written communication to members, mortgage brokers, and internal stakeholders during the application process.
- Effectively manage pipeline, prioritizing loan files to meet loan-level timelines including commitments, mortgage contingency dates, close dates, and rate locks.
- Generate Loan Estimates on a timely basis to meet Regulatory requirements including 3-day disclosure requirement.
- Accurately Calculate Fannie Mae Loan Level Price Adjustments (LLPA).
- Order services through 3rd parties including credit reports, flood certs, appraisals and settlement and title services.
- Assist with incoming calls to Real Estate Lending phone queue.
- Collect and review all loan documents to satisfy loan conditions, prepare loan files for underwriting, ensuring documentation is in order, accurate and complete prior to advancing to Underwriter for review.
- Note: Reviewing loan file requires working knowledge and understanding of loan applications, credit report, asset statements (including sourcing large deposits and EMD's), income docs (including paystubs, W- 2's, tax returns), appraisals, title work, etc...and the ability to identify possible deficiencies in file, including possible fraud/risk and ask appropriate questions, obtain clarifications and/or updated docs as needed.
- Perform File Maintenance, Compliance and QC tasks including but not limited to: Issuing 21-day letters, ensuring accuracy and completeness of HMDA data, performing Pre-Closing QC.
Benefits
- Competitive salary and benefits package
- Opportunities for professional development and career growth with exposure to mentorship from the executive team.
- Hybrid Schedule (min 3 days in office to maximize collaboration)
- A collaborative and inclusive work environment
- Paid Time Off, Wellness Time & Paid Federal holidays
- 401K with 6% match
- High Performance Culture that specializes in training to sharpen and expand skills brought to USALLIANCE.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
