Processor II

Municipal Credit Union•New York, NY

2d•$19 - $44

About The Position

At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people. Our Mission: To help hard-working New Yorkers build better tomorrows Our Vision: Be New York's most loved financial institution by helping our members build their best financial futures Overview: The Processor II under general supervision, but in accordance with established policies and procedures, is responsible for managing the documentation and verification process of mortgage loan applications. This role requires a strong understanding of mortgage guidelines and processing procedures, with the ability to independently resolve more complex loan issues. This role ensures that all required financial and property information is accurate, complete and compliant with regulatory and lender guidelines. The Mortgage Loan Processor works closely with loan officers, underwriters and members to move loans efficiently from application to closing. Is accountable for the accuracy and completeness of all loan documentation

Requirements

Bachelor’s degree or equivalent work experience.
Minimum three to four years of real estate lending processing experience.
Thorough knowledge of Fannie Mae, FHA, and all other secondary market guidelines.
Extensive knowledge in the areas of TRID, Appendix Q, RESPA, MDIA, HMDA, TILA, ECOA, FCRA, Fair Lending
Excellent problem-solving skills.
Strong written and verbal communication skills.
Ability to effectively prioritize tasks and meet deadlines.
Must be flexible and adaptable in a changing environment.
Ability to work overtime when required.
Proficiency in Microsoft Office Suite.
Strong PC skills,
Familiar with Doc Magic a plus
Self-motivated, ability to communicate within a team to solve issues and drive results, positive attitude.
Requires attention to detail and organizational skills.
Ability to perform in a high-volume environment and meet deadlines while maintaining exceptional attention to detail.
Technologically proficient.

Nice To Haves

Familiar with Doc Magic a plus

Responsibilities

Review and analyze mortgage loan applications to ensure accuracy, completeness, and compliance with agency, investor and company guidelines.
Places welcome call and issue Welcome letter/email with disclosures to the borrower informing them of required documentation needed and perform a thorough review of the loan scenario in its entirety, including any closing costs.
Orders and reviews third-party services such as credit reports, appraisals, title commitments, flood certifications, and verifications of employment or deposits, etc. Review Business/Personal Tax Returns for income used in qualification; Complete Income Calculation Sheet for all Mortgage loans
Ensures timely generation of all required documentation and processing disclosures.
Ensure all documents are properly prepared, signed, and uploaded into the loan origination system.
Submits real estate loans through Desktop Underwriter and reviews the automated underwriting conditions to ensure loan still meets original approval eligibility.
Communicates with loan officers, underwriters, bank attorneys, and members to resolve discrepancies and obtain missing documentation.
Monitors loan pipeline and follow up outstanding items to meeting processing and closing deadlines.
Reviews for accuracy, compliance and prepares files for submission to underwriting and coordinate with closing departments once loans are approved.
Reviews documents to assure complete, accurate information and update information on LOS.
Orders any additional documentation/reports on loans approved by the underwriter.
Reviews conditions received and upon acceptance forwards them to underwriter for review and clearance
Documents all conversations in the notes in the loan origination system. Scans and uploads documents into the LOS and to image flow/LPQ
Assembles and analyzes borrower data and computes ratios for submission to loan underwriters.
Acts as main point of contact on the loan and to members. Keep members apprised of loan status throughout the process and proactively follows up to obtain outstanding documentation. Maintains a high level of member service by being proactive in communication with members, vendors, attorneys, relocation agents, title company representatives and staff members in order to ensure proficient processing of all loans and a positive experience.
Review Commitment Letter for accuracy once file is assigned and send Commitment Package to Member and go over conditions listed
Completes preliminary review of Title report and submits to underwriter for approval.
Complete Written and/or Verbal Verification of Employment, as needed.
Performs other duties as assigned within mortgage and home equity.
Perform other related duties as requested and special projects as assigned.