Mortgage Loan Processor (San Diego or Glendale)

About the Role

Under general supervision, completes the full cycle of mortgage loan processing from receipt of loan application to final loan documentation process and preparation for funding.

Responsibilities

• Provides excellent service to members (external and internal) by completing the loan process timely, efficiently, and with minimal errors.
• Handles duties related to loan processing and closing, including identifying aspects of the transaction that may require additional special attention.
• Draws loan documents, arranges for funding, and ensures files are fully documented for underwriting and delivery on the secondary market.
• Inputs loan information into LOS (Loan Origination System) and FNMA D/U.
• Reviews and evaluates DU findings, credit reports, preliminary title reports, flood certifications, appraisals, and income and asset documentation prior to forwarding the file to underwriter for final approval.
• Orders third-party reports and validates information as required by the loan process.
• Pre-quifies members, discussing rates, terms, and/or financial options.
• Produces Loan Estimate (LE) and Closing Disclosure (CD) within required time frames and according to regulations.
• Re-discloses loan when there is a change of circumstance.
• Issues the Pre-Approval, Conditional Letter of Approval, or Incomplete Notice to the borrower within the established service level agreement.
• Understands and researches all Investor guidelines and stays up to date on program changes affecting loan processing or originating.
• Acts as the primary contact for borrowers and realtors to follow up on all underwriting and compliance-related conditions.
• Opens title and escrow orders on loans and reviews title reports to ensure the Credit Union will have a clear title to the property.
• Produces final closing documents and closing instructions for title/escrow.
• Coordinates signing of final closing documents to ensure timely funding and delivery to Investors.
• Completes loan locks with investors and communicates lock expiration dates and requirements to members to ensure established rates and gains on loans sold to Investors are met.
• Maintains communication with manager and loan agents regarding the status of loans with issues or delays in the pipeline.
• Performs other duties as assigned and complies with BSA requirements as commensurate with the position.

Requirements

• Excellent member service skills, including both written and verbal communication.
• Accuracy, attention to detail, and strong time-management and organizational skills.
• Dependability, self-motivation, and ability to work with minimal supervision.
• Ability to handle competing priorities.
• Strong working knowledge of mortgage loan terminology, documentation, lending policies, guidelines, and investor requirements.
• Proficiency in FNMA D/U and major Loan Origination and Document Preparation systems.
• NMLS registration/licensing required.
• Five years of work experience as a Mortgage Loan Processor in a financial institution or equivalent.

Working Conditions

Work is performed in a general office environment. This position does not require significant physical effort. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.