Processor II

About the role

Municipal Credit Union (MCU) has been providing affordable financial products and services to over 600,000 members since 1913. Our mission is to help hard-working New Yorkers build better tomorrows, and we aim to be the most loved financial institution in New York by helping our members achieve their financial goals.

Responsibilities

• Review and analyze mortgage loan applications to ensure accuracy, completeness, and compliance with agency, investor, and company guidelines.
• Place welcome calls and issue welcome letters/email with disclosures to borrowers, ensuring they understand required documentation.
• Order and review third-party services such as credit reports, appraisals, title commitments, flood certifications, and verifications of employment or deposits.
• Review and complete Business/Personal Tax Returns for income used in qualification; complete Income Calculation Sheets for all Mortgage loans.
• Timely generate all required documentation and processing disclosures; ensure all documents are properly prepared, signed, and uploaded into the loan origination system.
• Submit real estate loans through Desktop Underwriter and review automated underwriting conditions to ensure loans still meet original approval eligibility.
• Communicate with loan officers, underwriters, bank attorneys, and members to resolve discrepancies and obtain missing documentation.
• Monitor loan pipeline and follow up on outstanding items to meet processing and closing deadlines.
• Review files for accuracy, compliance, and prepare them for submission to underwriting and coordinate with closing departments once loans are approved.
• Review documents to ensure complete, accurate information and update information on LOS; order any additional documentation/reports on loans approved by the underwriter.
• Review conditions received and upon acceptance forward them to underwriter for review and clearance; document all conversations in the notes in the loan origination system.
• Scan and upload documents into the LOS and to image flow/LPQA; assemble and analyze borrower data and compute ratios for submission to loan underwriters.
• Act as the main point of contact on the loan and to members; keep members apprised of loan status throughout the process and proactively follow up to obtain outstanding documentation.
• Review Commitment Letters for accuracy once files are assigned and send Commitment Packages to Members, going over conditions listed.
• Complete preliminary review of Title Reports and submit to underwriter for approval.
• Complete Written and/or Verbal Verification of Employment, as needed.
• Perform other duties as assigned within mortgage and home equity.

Requirements

• Bachelor’s degree or equivalent work experience.
• Minimum three to four years of real estate lending processing experience.
• Thorough knowledge of Fannie Mae, FHA, and all other secondary market guidelines.
• Extensive knowledge in the areas of TRID, Appendix Q, RESPA, MDIA, HMDA, TILA, ECOA, FCRA, Fair Lending.
• Excellent problem-solving skills.
• Strong written and verbal communication skills.
• Able to effectively prioritize tasks and meet deadlines.
• Flexible and adaptable in a changing environment.
• Able to work overtime when required.
• Proficiency in Microsoft Office Suite.
• Strong PC skills; familiarity with Doc Magic is a plus.
• Self-motivated, able to communicate within a team to solve issues and drive results, and possess a positive attitude.
• Able to perform in a high-volume environment and maintain exceptional attention to detail.
• Technologically proficient.