Real Estate Loan Opener

Municipal Credit Union•New York, NY

About The Position

Overview: The Loan Opener is responsible for reviewing loan applications, ensuring required documentation has been received, and assisting in the preparation of mortgage loans for processing. Must be well versed in the TRID regulations. The Loan Opener will be responsible for preparing and sending out the Loan Estimate and all applicable disclosures within the three day regulation to the Members. They will also order all third party reports for the file. Establishes loan files and orders documentation required to process loans. Is accountable for the accuracy and completeness of all loan documentation, under general supervision, but in accordance with established policies and procedures.

Requirements

Bachelor’s degree or equivalent work experience.
Knowledge of Fannie Mae, FHA, and all other secondary market guidelines.
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.
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.
Must know all TRID guidelines and regulations.

Nice To Haves

Familiar with MortgageBot and DocMagic, a plus but not required.

Responsibilities

Review residential mortgage loan applications and documents within the loan origination system, including but not limited to an executed loan application, credit report, tax returns, income statements, fully executed purchase contract (as applicable), mortgage statement (as applicable), complete income calculator, etc.
Inputs and updates data into loan origination systems and assures adequate file integrity.
Orders all third-party reports: Flood, USPS to verify the property address and all fraud reports.
Prepares the Loan Estimate by obtaining the recording fee, transfer taxes, mansion tax if applicable and any other fees that will need to be disclosed to the borrower.
Reviews the entire file for accuracy and compliance in LOS and assigns loan to Processor.
Assigns loan to MCU bank attorney in round robin scheme.
Generates and/or ensures timely generation of all required documentation.
Works with assigned Mortgage Loan Officer and loan processor, to resolve any file discrepancies in order to ensure timeliness of rate locks, compliance, and loan delivery.
Manage an assigned pipeline of loans.
Update general comments in loan notes with all activity on the loan.
Maintains a high level of member service by being proactive in communication with members, attorneys, title company representatives and staff members.
Interacts with outside vendors and service providers to facilitate the loan process.
Perform other related duties as requested and special projects as assigned.