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Mortgage Loan Processor I

Company: ESL Federal Credit Union
Location: Rochester
Posted on: September 13, 2019

Job Description:

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 vendors.
  • 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 loan conditions.
  • 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 applications.
  • Utilizes live pipeline reporting to ensure borrower's expectations are met and to adhere to the department's service level agreements.
  • Demonstrates ESL's CORE Values with all internal and external interactions.
  • Back up to Processing as required. Attends all required meetings and trainings on investor, agency, state and federal rules and regulations.
    • Engages in team meetings, participates in group activities, attends assigned trainings and looks for opportunity to increase skill set.
    • Participates in process discoveries, iVisits, side by sides, local projects and/or special assignments requested by Manager.
    • Provides back up support to other departments as needed. Qualifications:
      • 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 required
      • Minimum two years experience in real estate, mortgage lending or banking required
      • Excellent mathematical and statistical aptitude
      • Analytical mindset to quickly investigate and resolve concerns
      • 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 industry
      • 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

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