Senior Associate Mortgage Processor

Alliant Credit Union•Chicago, IL

12d•$52,300 - $81,300•Hybrid

About The Position

This role is responsible for ensuring the accuracy of routine to complex loan applications across all 50 states for products such as FHA, VA, and Construction. The Senior Associate Mortgage Processor will clear inconsistencies prior to and post submission to underwriting, collect required documentation, and request necessary reports and documentation from third parties. A key aspect of this role involves analyzing credit, income, and collateral documentation for completeness and accuracy to ensure loan eligibility and compliance with underwriting guidelines. The position also requires resolving system-generated alerts, routine title issues, and validating income for non-self-employed borrowers. Additionally, the role involves managing loan process deadlines, tracking mortgage rate lock expirations, and providing excellent service standards throughout the application process by coordinating with various team members and external partners. Communication and timely updates to loan officers and other stakeholders are crucial, as is maintaining and updating files and databases. The role also involves making recommendations for procedural improvements to enhance efficiency. Adherence to and compliance with the Bank Secrecy Act, applicable state and federal laws, company procedures, and policies, as well as maintaining integrity and ethics in all actions, are essential. Please note that responsibilities may change at any time with or without notice.

Requirements

Minimum - High School or Equivalent
Minimum - 5 Years Lending, First Mortgage Lending Operations, Real Estate Contracts or Related

Responsibilities

Ensure accuracy of routine to complex loan applications generated in all 50 states for products such as: FHA, VA, and Construction by clearing inconsistencies prior to and post submission to underwriting.
Collect required documentation from borrowers and other third parties.
Request valuation reports, title reports, fraud reports, insurance and other necessary documentation as requested through the application process with appropriate 3rd party vendors.
Analyze credit, income and collateral documentation submitted for completeness and accuracy to ensure loan eligibility as well as to analyze and evaluate given information relative to underwriting guidelines.
Resolve system generated identity check alerts by gathering and validating relevant supporting documentation.
Resolve routine title issues including vesting issues and various liens by working with the member, loan originator and title company.
Validate and calculate income for non-self-employed borrowers.
Ensure the loan process is meeting the deadlines of the purchase agreement as well as keeps track of your mortgage rate lock expiration date in order to avoid lock extension including extension fees.
Provide set service standards for each loan application, borrower and originating team member from time of receipt to final submission to closing by coordinating activities amongst other team members such as underwriter, loan officer, borrower and third parties involved in the application.
Provide the loan officers with timely updates while participating in weekly status meetings with respective sales and operations team members as well as communicate with loan officers, members, title companies, realtors, builders and all other internal / external partners
Establish, maintain, and update files, databases, records, and/or other documents for recurring internal reports.
Make recommendations for procedural changes to increase efficiency.