HELOC Processor I

PenFed is hiring a hybrid HELOC Processor I at our San Antonio, Texas Service Center. The role provides detailed guidance to fulfill loan qualification requirements in a compliant manner while ensuring exceptional member service through ongoing communication with members and business partners.

Responsibilities

• Review all loans and registrations for completeness and accuracy.
• Generate, communicate, and obtain the Account Condition Letter (ACL) per Regulation B requirements.
• Act as the primary point of contact for members and real estate agents throughout the mortgage process, providing guidance and ensuring excellent service.
• Evaluate credit history, income levels, and assets/liabilities; calculate debt-to-income and loan-to-value ratios.
• Restructure loan requests and recommend adverse action as needed.
• Review and address items involving loan product, credit, occupancy, and employment verifications; order verbal verifications of employment (VVOE) for pay-off accounts.
• Request action from Disclosure Desk and other internal partners as required by valid change in circumstances.
• Collect, analyze, and ingest documents to clear ACL conditions.
• Update loan origination system with information collected from documents and re-run Desktop Underwriter (DU) as appropriate.
• Maintain working knowledge of originating systems for home equity loans and lines of credit.
• Assemble and submit completed file to Underwriting (UW); clear manual conditions, cure title issues, and resolve appraisal discrepancies with the appraisal review group as needed.
• Clear any prior-to-fund conditions that arise after final UW approval before passing the loan to Closing.
• Remain the main point of contact with the borrower through closing and funding, answering any questions (e.g., on the Closing Disclosure).
• Manage and cure any QC loan issues that require borrower communication.
• Ensure proper re-disclosures are prepared and delivered to the member within regulatory guidelines based on identified changes in circumstances.

Requirements

• Equivalent combination of education and experience is considered. Bachelor’s degree or a combination of education and experience that provides the necessary skills and knowledge to perform the essential job functions.
• Minimum of one (1) year of experience preferably in residential mortgage lending in 1st Trust Mortgage or Home Equity processing/closing.
• Encompass Experience preferred.
• Outstanding communication and problem-solving skills.
• Strong attention to detail and organization.
• Diligent and resourceful in finding solutions.
• Ability to perform quality work and adhere to timeliness standards established by management.
• Ability to manage a high-volume pipeline.
• Able to work independently and proactively, prioritizing workload and handling multiple tasks.
• Experience using A.I. tools preferred.

Work Environment

The employee is regularly exposed to an indoor office setting with moderate noise. Most roles require working in an office setting with the ability to lift 25 pounds. Ability to travel to various worksites and be on-call may be required.

Pay

The anticipated starting hourly range for this role is $18.56 - $28.52. This position is eligible for an organizational performance-based annual bonus, subject to board discretion and approval, and includes commission/incentive plan compensation.

Benefits

• Comprehensive health, dental, and vision plans.
• Paid time off.
• Family-friendly benefits, including paid parental leave, care support, and fitness center access.
• Financial wellness support, including a 401(k) match, employee loan discounts, and fully paid life and disability coverage.
• Education assistance for professional growth.
• Community involvement and volunteer opportunities.