Equity Loan Servicing Specialist

About the role

The position is responsible for the accuracy, content, and completeness of the mortgage application, related underwriting documents, and loan closing documents, within regulatory guidelines.

Responsibilities

• Process and fund Closed End Second Mortgage and HELOC loans with a focus on accuracy and efficiency.
• Provide knowledge and superior service to branches and support segments via the department ACD line.
• Review and analyze title documents, appraisal, flood certification, payoff information, insurance, and member information to ensure the loan is compliant and accurate.
• Work with multiple vendors during processing and when completing payoff requests, including title, appraisal, insurance, and other financial institutions.
• Stay up to date with collateral titling changes in process and procedures to avoid member and credit union risk and impact.
• Manage MeridianLink queues to meet service level agreements agreed upon with Consumer Lending Sales.
• Complete multiple quality checks of each application prior to the member’s appointment and loan funding to ensure seamless funding and lien perfection while meeting compliance and regulatory guidelines.
• Assist with ongoing servicing questions after a consumer loan has been funded.
• Adhere to quality standards for consistent, high-quality service.
• Make recommendations for the improvements of service quality and lending processes.
• Understand Consumer Lending policies, processes, and practices.
• Ensure individual and credit union adherence to policies and standard of business practices.
• Perform other job-related duties as assigned.

Requirements

• High School diploma or general education degree (GED).
• Three (3) years of experience in a financial institution or any related field.

Qualifications

• Understanding of Equity Products: Home Equity Line of Credit (HELOC) and fixed equity.
• Ability to process HPML equity loans to include setting up escrow accounts.
• Understanding of current credit union underwriting guidelines.
• Ability to learn and understand compliance guidelines of various governing bodies (CFPB, FNMA, HUD, FHLMC).
• Ability to type 45 words per minute.
• Ability to read, write, speak, and use proper grammar in English.
• Ability to read and comprehend written instructions, correspondence, memos, and procedure manuals.
• Ability to communicate verbally on the telephone, speaking to members regarding sensitive inquiries or complaints.
• Ability to apply commonsense understanding when dealing with problems involving variables in standardized situations.
• Ability to calculate rates, ratios, income, and percentages.

Licenses and Certifications

In compliance with the federal Secure and Fair Enforcement for Mortgage Licensing (S.A.F.E.) Act of 2008, employees acting as Mortgage Loan Originators (MLO) must:

• Be registered with the Nationwide Mortgage Licensing System (NMLS) and obtain a unique identifier (NMLS Number).
• Electronically submit personal and employment information to the Registry, authorize and attest to its accuracy, and submit fingerprints for an FBI criminal background check.
• Receive clearance from the credit union based on the FBI background check results.
• Note: Applicants with certain criminal convictions may not qualify for the MLO designation.
• After successful registration, perform MLO functions including taking a residential mortgage loan application and offering to discuss the terms of a residential mortgage loan.
• Maintain MLO registration by renewing annually (November 1 through December 31) and updating any changes to registration information.
• Provide the unique identifier/NMLS Number upon request, before acting as an MLO, and through the initial written communication with a member/residential mortgage loan applicant.
• Handle confidential member information with strict requirements for maintaining confidentiality and non-disclosure.

Preferred Qualifications

• One (1) year experience as an AFCU Personal Banker.

Work Environment and Physical Demands

• Hybrid work environment.
• Occasionally required to reach with hands and arms.
• Regularly required to stand or sit; use hands to finger keys accurately when using calculator machines or computer keyboards.
• Occasionally lift and/or move up to 50 pounds.
• Specific vision abilities required include close vision, distant vision, and peripheral vision.
• The noise level in the work environment is quiet.
• Must be able to travel independently to department and branch locations.
• Employees who work from home must have business operational internet to complete work tasks and communicate via video call or chat messaging systems in a dedicated workspace.

Pay

$24/hr