Mortgage Loan Support

General Summary

Coordinate the approval /closing/ servicing function of all mortgage loan files. Serve our Membership by providing and promoting prudent borrowing and saving activities and be sensitive to all the member’s financial needs by creating an awareness of all credit union services to new and current members.

Essential Functions

1. Assist in auditing loan files (pre-and post-closing) for compliance and future business development.
2. Support in developing and maintaining audit/business procedures/check lists.
3. Maintain member’s confidentiality.
4. Maintain outstanding service skills for on-going agencies, member and co-worker contact for new, additional, or outstanding documentation required for pre, post, and closing loan needs.
5. Assist in accurately preparing closing packages for Conventional, FHA, VA, USDA, and home equity lines.
6. Assist in reviewing submitted mortgage files according to agency guidelines.
7. Assist in providing loan commitments and denial notices within 30 days of applications.
8. Assist in ensuring all underwriting requirements are met for pre-closing, closing, and post-closing along with making sure- clear title insurance policy has been obtained with post-closing verification.
9. Help prepare accurate CD settlement statement, ensuring LFCU collects all fees, points, etc…
10. Assist in government HMDA filings, tracking and reporting.
11. Keep up to date on changing secondary market guidelines.
12. Assist in packaging loan files for sale to secondary market according to their guidelines.
13. Support processing daily in-house mortgage payments.
14. Assist in balancing all mortgage loan clearing general ledgers daily.
15. Assist in balancing mortgage loan custodial escrow and funding checking accounts daily.
16. Help prepare coupons for in-house mortgage loans.
17. Help prepare in-house mortgage loan payoff quotes.
18. Support booking and funding closed mortgage loans.
19. Assist in tracking closed loan documents (final title policies, insurance, and Deeds of Trusts)
20. Assist in preparing Deeds of Reconveyance for all paid and refinance loans.
21. Help package closed mortgage loans for sale to the secondary market.
22. Acquire and maintain knowledge to serve as backup in loan servicing/processing areas.
23. Develop a working knowledge of the data processing system and department software.

NOTE: The list of essential functions is not exhaustive. It may be supplemented as necessary from time to time.

Additional Functions

1. Actively support our “sales and service “culture and demonstrate these skills by communicating to members the benefits and features of all our products and services.

2. Develop a working knowledge of competitors’ products and services with a continued interest in improving quality services and products for the credit union.

3. Complete in-house training based on required classes set up for this position.

4. Assist in any area as directed by management.

Job Specifications

1. Professional, well-developed interpersonal skills necessary for servicing out credit union members in person or by phone use and projecting a positive attitude/image as a representative in relationship to all credit union activities.

2. Work requires general knowledge of mortgage lending regulations tied into FHA, VA and Conventional loans.

3. Requires a high degree of accuracy with intermediate mathematical skills required (calculations and concepts involving decimals, percentages, fractions, etc.)

4. Problem solving requires judgment to apply broader aspects of established practice to situations which go beyond clear, concise guidelines. Involves generally semi-routine or diversified work with several alternatives. Incumbent makes decisions based on limited pre-defined standards.

Disclaimer

The above information in this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.