Lead Loan Processor (Mortgage)

Member Home Loan is located in Northwest Houston (Jersey Village and Cypress Area). This position does require the employee to come into the office.

POSITION SUMMARY:

The Mortgage Loan Processor has the primary responsibility for the mortgage loan and all documentation from the receipt of the file through closing. My main responsibilities are:

1. Verbal communication with the member. This is mainly accomplished via the phone. The Mortgage Loan Processor ensures that the borrower and all third parties associated with the loan are well informed on the progress of the loan by proactively communicating.
2. Timeliness and accuracy. The Mortgage Loan Processor must proactively communicate with the member to ensure coordination and exchange of information ensuring that the loan meets the eligibility and underwriting guidelines and that all conditions for closing are met
3. Problem resolution. The Mortgage Loan Processor must expedite a remedy to ensure that the loan closes on time and the borrower's experience exceeds expectations.

The Processor is also responsible for working in the mortgage origination system to set up, validation of data, and collect and evaluate of documented information required. Review of Automated Underwriting System conditions ensuring that the loan meets the eligibility and underwriting guidelines and all conditions for closing are met. In addition, this person is responsible for reviewing the appraisal, title report, and flood certification

ESSENTIAL DUTIES:

• Establish a relationship with borrower(s) and serve as the primary point of contact during the loan process. Provide constant communication with all parties.

• Conduct interviews with the member to ensure member needs are met. Provide them with an overview of the process and inform a member of the information necessary to process the loan.
• Conduct follow-up on outstanding documentation to ensure receipt within turn-around time standards.
• Review and analyze all documentation received and determine acceptability to Government Sponsored Entity (GSE) standards. Log documents into the loan operating system and indicate when conditions are satisfied.
• Employ sound judgment in validating loan approval utilizing automated underwriting systems (AUS). Verify income and assets as required in the AUS verification messages and CU policy. Review credit report as needed to address any inconsistencies identified in the DU findings.
• Review appraisals to ensure that the required level of appraisal fieldwork has been completed, that they are of professional quality, and are prepared in a way that is consistent with GSE requirements.
• Update valuation in AUS and re-run if needed.
• Review title prior to drafting documents to ensure all conditions have been cleared and easements are within the general investor guidelines.
• Review flood certification.
• Review Mortgage Insurance Certification and ensure a percentage of coverage meets GSEif applicable
• Ensure regulatory requirements are met in processing the approved, canceled, and rejected loan applications.
• Request Homeowners/Hazard insurance binder.
• Process the approved and rejected files by communicating oral and underwriting decisions and conditions to the members and realtors on property and loan.
• Obtain all delegated credit and property conditions, sufficient to meet the Underwriter’s conditions.
• Follow company policies and procedure
• Ensure all documents obtained by the Loan Processor will meet underwriting standards for loan approval.

• Review DU verification messages/approval conditions. Set up a file on the loan origination system. Verify the accuracy and integrity of all loan data entered into the system including but not limited to names, addresses, government monitoring information, and loan information (i.e. loan amount, interest, terms, lock-in expiration dates, etc.)

• Complete a final evaluation of the completed loan file to obtain clearance to close from the Underwriter.
• Make sure that the loan is locked prior to closing and make necessary requests for extensions to the applicant’s commitments in accordance with CU policy.
• Send closed loan, Jumbo, VA, and FHA files to the Investor for purchase per their instructions and requirements.

• Maintain manuals of all new policies or modifications to the guidelines and standards of CU Companies of Texas’ investors and private mortgage insurers.
• Work with staff and co-workers as a team in analyzing and solving situations that may arise in the mortgage origination loan process.
• Must work the days and hours necessary to perform all assigned responsibilities and tasks. Must be available (especially during regular business hours) to communicate with employees, members, managers, and any other person or organization with whom interaction is required to accomplish work and company goals.
• Must maintain courteous, professional, and effective working relationships with employees at all levels of the organization, members, vendors, and/or any other representatives of external organizations.
• Communicate information and state problems or challenges to be resolved in a clear, concise, courteous, nondiscriminatory, and professional manner, and be able to provide clarification if necessary.

• Perform related duties as required.

KNOWLEDGE AND SKILLS:

• Excellent communication skills and proven effectiveness in working with loan originators and loan applicants.
• Ability to resolve questions and problems with the supervisor, work effectively with a wide range of personalities, and manage workflow to meet deadlines.
• Ability to input data accurately and efficiently into computer software systems.
• Ability to work under the stress of maintaining the proper liaison between members, Loan Officers, Realtors, and vendors to facilitate loan transactions in compliance with all policies, procedures, and legal and ethical guidelines.
• Ability to exchange information and to report facts, details, and technical information clearly, concisely, and in a timely manner.
• Ability to comprehend the consequences of various problem situations and to refer them to the appropriate people for resolution.
• Ability to add, subtract, multiply and divide all units of measure accurately, perform these four operations with like or common decimal fractions, compute rates and percentages, and perform arithmetic operations involving all American monetary units with a calculator.
• Ability and willingness to work overtime hours as requested.
• Have a thorough knowledge of first mortgage real estate lending practices, including federal regulatory requirements, state regulations, and agency requirements.
• Have a thorough understanding of conventional and special mortgage loan programs and knowledge of the necessary documentation for processing and obtaining underwriting approval.
• Must be capable of adapting, with minimal or no advance notice, to changes in how business is conducted and work is accomplished, with no diminishment in work performance.

EXPERIENCE:

• B.A. or B.S. degree in business preferred or equivalent work/educational experience.
• Successful completion of courses or seminars relating to mortgage banking processing and underwriting, and escrow.

• Minimum 2 years experience as a mortgage loan processor, closer, or underwriter with an emphasis on conventional loan products