Senior Mortgage Loan Processor

Job Summary

The Senior Mortgage Loan Processor reviews and gathers documentation, verifies information, and orders loan-related documents to submit for underwriting of mortgage loans within UFCU and industry guidelines. This role assumes primary responsibility for the loan file and loan documentation from the receipt of the contract through closing/funding.

About the Role

This role reports to the Senior Manager, Mortgage Loan Operations. UFCU, founded in 1936, serves members throughout Texas and beyond. Our values include being member-focused, reimagining possibilities, striving for excellence, and adhering to ethical standards. Essential Functions include:

• Evaluates loan applications and accompanying documents to determine compliance with Automated Underwriting System (AUS) results and guidelines; conducts further due diligence and re-evaluates based on AUS as needed
• Performs thorough review of credit report
• Reviews employment information and collects necessary supporting documentation
• Reviews asset statements and financial information and collects necessary supporting documentation
• Communicates with members and maintains effective follow-up to ensure receipt of documents necessary for loan processing
• Evaluates appraisals for accuracy, making sure any corrections, adjustments, and repairs are completed prior to underwriting submission
• Orders property information including title, flood certification, and homeowner’s insurance documents
• Reviews title documents for valid ownership, chain of title, taxes, subordinate liens, liens and judgments, and current mortgage holder
• Performs due diligence on loan package to ensure it is complete and thorough before submitting for underwriting approval
• Verifies that Underwriter receives and clears all underwriting conditions and prepares the file for submission to the Closing Department
• Stays current on all underwriting guidelines and quality control policies

Essential Functions

• Communicates with key individuals to resolve problems and respond to inquiries
• Works collaboratively with Loan Officers, Underwriters, and Closers to resolve problems
• Handles all member communication during the processing of the mortgage loan

Knowledge/Skills/Abilities

• Advanced knowledge of current mortgage lending laws and regulations for Fannie Mae, FHA, VA, USDAThorough knowledge of all aspects of the federal and state regulations dealing with Home Equity lendingAdvanced knowledge of the mortgage process, documentation, requirements, and terminologyProficient in use of computers and MS Office software suite (e.g., Outlook, Word, Excel)
• Excellent analytic skills, attention to detail, and ability to work within time constraintsExcellent interpersonal, written and verbal communication skills

Core Competencies

• Demonstrating Member Obsession
• Demonstrating Performance Excellence
• Demonstrating Innovation

Experience

• High School Diploma or equivalentMinimum five (5) years of experience in mortgage loan processingDeep experience with Encompass Loan Origination System (LOS)Extensive experience with all loan products available by Fannie Mae, Freddie Mac, FHA, VA, and USDAMust be bondable
• Prior financial institution experienceExperience with AllRegs software to review mortgage Underwriting guidelinesBilingual in English and Spanish

Physical Demands

• Frequent While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle or feel; reach with hands and arms; and talk or hear.
• Specific vision abilities required by this job include close vision, distance vision, peripheral vision and ability to adjust focus.
• Employee will make extensive use of the telephone and virtual communications requiring the ability to explain complex information effectively and accurately.

Work Environment

• The work environment characteristics described are representative of those an employee encounters while performing the essential functions of this job. This position requires frequently working onsite at UFCU Plaza in Austin, Texas.
• This position may involve periodic stressful conditions.
• May occasionally require an adjusted work schedule, overtime, and evening/weekend hours.
• Frequent computer use at a workstation up to two hours at a time.
• The noise level in the work environment is usually moderate