Senior Mortgage Loan Processor
About the role
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. The Senior Mortgage Loan Processor reports to the Senior Manager, Mortgage Loan Operations.
Responsibilities
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, employment information, asset statements, and financial information. Communicates with members and maintains effective follow-up to ensure receipt of documents necessary for loan processing. Evaluates appraisals for accuracy and 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.
Requirements
- High School Diploma or equivalent
- Minimum five (5) years of experience in mortgage loan processing
- Deep experience with Encompass Loan Origination System (LOS)
- Extensive experience with all loan products available by Fannie Mae, Freddie Mac, FHA, VA, and USDA
- Must be bondable
Qualifications
- Bachelor’s degree or related college coursework
- Prior financial institution experience
- Experience with AllRegs software to review mortgage Underwriting guidelines
- Bilingual in English and Spanish
Skills
- Advanced knowledge of current mortgage lending laws and regulations for Fannie Mae, FHA, VA, USDA
- Thorough knowledge of all aspects of the federal and state regulations dealing with Home Equity lending
- Advanced knowledge of the mortgage process, documentation, requirements, and terminology
- Proficient 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 constraints
- Excellent interpersonal, written and verbal communication skills
Core Competencies
- Demonstrating Member Obsession: Puts themselves in the Member’s shoes, Looks for friction points, Makes it personalized and easy
- Demonstrating Performance Excellence: Sets standards for elevating excellence, Ensures elevated quality, Takes responsibility, Conducts continuous improvement
- Demonstrating Innovation: Challenges current thinking, Approaches change with a positive mindset