Mortgage Loan Processor I
Company: ESL Federal Credit Union
Posted on: September 13, 2019
Hours: 40 Schedule: Monday - Friday 8:00 a.m. - 5:00 p.m. Must be
flexible to meet current and future business needs. Primary
Accountability: This position is accountable for managing a
pipeline and ensuring that the processing of new conventional
residential mortgage loan applications (first lien and soft
seconds) meets ESL, secondary market, affiliated vendors (i.e.
appraisal management company, mortgage insurance companies),
agency, regulatory, state and federal guidelines and adheres to all
other mortgage related rules, policies and procedures. This
position is also responsible for providing a superior customer
experience and acts as a liaison between the borrowers, realtors,
attorneys, Loan Officers, Underwriters, Closers, Title Examiner,
3rd party vendors and any other party associated with the mortgage
transaction by being professional, using problem solving techniques
and has strong communication skills. Principal Accountabilities:
Complete borrower's mortgage applications and ensure they are
processed accurately and timely while meeting borrower, realtor and
attorney's expectations and timelines for commitment agreements and
close by dates.
- Prepare and send initial disclosures in accordance with
regulatory rules to borrower based on borrower's preferred method
of communication. Also includes other disclosures such as change of
circumstance re-disclosures and expiration letters.
- Fully comprehends and adheres to CFPB's TILA-RESPA Integrated
Disclosure rules, FDIC Fair Lending Laws and Regulations and FTC
Equal Credit Opportunity Act.
- Through knowledge of the secondary market and applies
guidelines to processing mortgage applications.
- Verifies the accuracy of all borrower's data such as employment
length, financial statements and collateral asset value. Identifies
any fraud or other red flags.
- Orders Flood Certificate, Credit Report, Appraisal,
Re-Inspections, Mortgage Insurance, Verifications of Employment,
Title and obtains county/school/village/city tax from outside
- Responsible for explaining current interest rates, points and
fees and locking in rates.
- Stays in constant communication with borrower via phone, online
portal, in-person and/or email, along with any other participant in
the mortgage transaction to obtain needed documentation, address
questions, meet commitments, follow-up on appraisals or
underwriting conditions and set up follow-up expectations while
providing a superior customer experience.
- Obtains borrower documentation, uploads into LOS eFolder,
updates pertinent fields within the system and submits for response
via automated underwriting system.
- Credit Evaluation: Evaluates borrower financial information
including salary, assets, debts and liabilities.
- Responsible for calculating income by analyzing paystubs, W2s,
award letters and/or tax returns/tax transcripts and validating
debt to income and loan to value percentages.
- Responsible for submitting a complete file to Underwriting
timely once all credit complete documents have been received.
- Submits documents/information to Underwriter quickly to clear
- Resolves loan application problems. Assists Mortgage Loan
Officer and borrower with addressing income discrepancies, credit
report issues, low appraisals and high debt ratios.
- Creates and modifies checklists used for processing
- Utilizes live pipeline reporting to ensure borrower's
expectations are met and to adhere to the department's service
- Demonstrates ESL's CORE Values with all internal and external
- Back up to Processing as required. Attends all required
meetings and trainings on investor, agency, state and federal rules
- Engages in team meetings, participates in group activities,
attends assigned trainings and looks for opportunity to increase
- Participates in process discoveries, iVisits, side by sides,
local projects and/or special assignments requested by
- Provides back up support to other departments as needed.
- Associates degree or equivalent experience directly related to
real estate, mortgage or banking required
- Bachelors degree preferred
- High School diploma or High School equivalency diploma
- Minimum two years experience in real estate, mortgage lending
or banking required
- Excellent mathematical and statistical aptitude
- Analytical mindset to quickly investigate and resolve
- Excellent written and verbal communication skills
- Excellent customer service skills
- Excellent organizational and time management skills
- Exceptional interpersonal skills
- Attention to detail and accuracy
- Adapts quickly to change and has the ability to work in fast
paced, fluid environment
- Flexible with work hours due to seasonality of the
- High integrity and confidentiality required
- Must complete submission of application to the NMLS within the
first week of employment and subsequently be successfully
registered as a Mortgage Loan Originator through ESL
Keywords: ESL Federal Credit Union, Rochester , Mortgage Loan Processor I, Other , Rochester, New York
Didn't find what you're looking for? Search again!