Mortgage Specialist, Montgomery/Monroe, Bilingual Preferred

Rio Grande Credit Union•Albuquerque, NM

4d•Onsite

About The Position

The Mortgage Specialist is responsible for performing job duties related to mortgage processing, closing, funding, and shipping as well as providing back up support for the servicing department. Primary job duties include: gathering paperwork related to mortgage loan applications in a timely manner and checking for accuracy; submitting files to underwriting for review; addressing and satisfying underwriting conditions; preparing closing documents; balancing CD with the title company; coordinating closing with members and the title company; perform post-closing reviews of files for compliance; preparing files for purchase by the investor (if sold); preparing for and assisting with loan fundings. Must have the ability to prioritize, be highly organized and have solid problem solving and decision-making skills as well as be able to effectively communicate. Also, ensuring loan policy, HOEPA, TRID, and all Federal and State Lending Regulations are upheld.

Requirements

6 months to 2 years related experience
2-year degree or completion of a specialized course of study OR 2 years of related experience.
Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals.
Ability to write routine reports and correspondence.
Ability to speak effectively before groups of customers or employees of organization.
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
Ability to apply concepts of basic algebra and geometry.
Must be detail oriented.
Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.
Ability to deal with problems involving several concrete variables in standardized situations.
Knowledge of Loan Origination software, DU (Desktop Underwriter), DO (Desktop Originator), Outlook, Microsoft Word and Excel, along with a general understanding of the Internet.
Must register and maintain a status in good standing with the SAFE Act policy.
Must be able to sit and use hands to finger, handle, or feel.
Must be able to reach with hands and arms.
Must occasionally lift and/or move up to 25 pounds.

Nice To Haves

Bilingual Preferred
Mortgage License System number preferred

Responsibilities

Ensure all loan documentation needed for underwriting approval is obtained
Perform cursory review of credit, income, assets and property to prepare the file for underwriting
Order Appraisals, Title Binders, Flood Determinations, hazard insurance, credit supplements and payoffs
Maintain contact with borrowers and other parties as necessary for providing updates/status
Prepare electronic files and submit files to underwriting for review
Review title binder for requirements and address them with borrower and loan officer
Ensure files meet all related regulatory and compliance requirements with regards to REG
Monitor file dates and keep track of lock expirations and shipping deadlines
Perform related follow-up tasks to assure problem solving and member satisfaction
Review Preliminary Closing Disclosure from the Title company and update figures in the LOS prior to final submission
Assist loan origination staff with follow up documentation needed from borrowers or other parties
Audit loan closing file to verify all necessary information is complete and accurate and all underwriting conditions have been met.
Review hazard insurance policy to insure loan has adequate coverage and lenders interest in the property is protected.
Verify the property address with the United States Postal Office being used as collateral for the loan.
Review title commitment to ensure all liens have payoff statements or subordination agreements as applicable. Review title commitment to ensure that all necessary exceptions are removed.
Prepare closing package and send closing disclosure to title company to ensure it is balanced.
Review closing disclosure for accuracy and completion and checks tolerance levels on fees with loan estimate.
Coordinate loan closing by working with members, title companies, realtors and other interested parties pertaining to the loan.
Check funding packages and request wire if all closing conditions have been met.
Perform tracking and reporting functions to keep closed and funded loan status up to date.
Ensure loans are funded correctly and disbursements are sent correctly.
Maintain a log to track post closing documents.
Prepare loans for shipping based on investor requirements.
Establish and maintain systems that allow for the timely delivery of the loan package prior to the expiration of the lock date.
Responsible for follow up with investor and clearing any suspense items within the allotted timeframe given by the investor.
Ensure that loans are sent to the investor prior to lock expiration.
Position will assist the Servicing Department as needed with various Servicing functions
Accurately identify all members using RGCU approved types of identification for all transactions.
Ensure that all CIP information for new accounts is complete prior to proceeding with a mortgage loan.
Properly update all necessary CIP information in the core processor for prime and joint members and customers on all accounts for all transactions.
Accurately perform OFAC during transactions such as but not limited to: opening new accounts; adding individuals to an account or shares; producing cashier’s checks or money orders; initiating wires, etc.
Ensure that all accounts, loans, and transactions are reviewed for the appropriate red flags.
Come to work every day with a member focused, passionate, and dedicated mindset
Approach every member situation from a caring, helpful, and open-minded position
Proactively approach issues and offer creative solutions that will make doing business with RGCU easier
Assists in any other areas as directed by Senior Management and/or President/CEO.
Report all suspicious activity to the Risk Management department via the compliance group email