Mortgage Loan Processor
Salal Credit Union
Contact: Katie Caldwell
Email: [email protected]
Phone: (206) 826-7665
This position serves to coordinate underwriting activities, loan requirements and loan production for mortgage loans while maintaining detailed, accurate documentation to ensure timely funding of mortgages for our members. Provide excellent member service to borrowers and loan officers by following up throughout the loan process to guarantee timely borrower closing and funding, and correct priorities based on the overall pipeline.
Evaluate all real estate loan applications, title insurance reports and necessary verification to process real estate loans based on real estate lending loan criteria and conditions.
Maintain mortgage loan files, create correspondence and documentation to support the Mortgage team and loan production.
Prepare and mail member loan documents, disclosures, denials, and other correspondence when necessary, in required time frames.
Responsible for managing multiple mortgage loans/deadlines simultaneously and continuously communicates the status of each loan.
Provide lending staff members with technical assistance to enhance volume, accuracy, and efficiency.
Process all orders including but not limited to Verification of Employment, Verification of Deposit, Flood Determination, Title, Tax Transcripts, etc.
Coordinate appraisal with appraisal management company.
Maintain loan statuses in mortgage software and order documents as necessary. Log all loan file events to comply with loan tracking procedures and regulations.
Provide the sales and management teams with an accurate accounting of the timeline and history of all loan transactions. Consistently monitor the progression of each loan to communicate loan status.
Provide proactive communication to originators and team leads for special circumstances, concerns or necessary file escalations. Understand the needs of the member during loan transactions and assist in setting proper expectations with both the originator and the borrower.
Request documentation from and follow up on needs from borrowers to fulfill submission, conditional, and closing requirements required for loan files.
Maintain a thorough understanding of credit union policies, processes, and procedures, as well as thorough knowledge of underwriting products and guidelines.
Clear all conditions set by underwriter and investors.
Utilize mortgage processing software to prepare documents, including underwriting documents, for real estate loans.
Utilize loan originating software, Fannie Mae Direct Underwriting software, and document preparation software to enter and update real estate loan information. Proof documents prior to member signing.
Responsible for drawing closing documents and reviewing settlement statement for approval.
Communicate with escrow to balance loan figures and generate an accurate final CD for borrower signature.
Responsible for coordinating member signing with the Title/Escrow Companies and adding scheduled loans to the funding calendar.
Previous Experience: Performed successfully in a First Mortgage Real Estate Loan Processor position for a minimum of one year.
Education: High School Diploma or GED preferred.
Demonstrated Abilities: Express thoughts clearly and concisely, both verbally and in writing. Interact positively with co-workers, management and the public. Market products and services in a manner, which is responsive and professional. Listen to cues and ask proactive questions to select appropriate product or service to sell or refer. Working knowledge of federal and state real estate and consumer lending regulations. Evaluate appraisals, title document, insurance reports, and verification of income records, values and purchase records. Interview, evaluate, approve, deny and process real estate loan applications.
Physical Requirements: Sitting or standing continuously for periods of four hours, communicate verbally, communicate in writing, faculty of seeing and hearing, operate keyboard. Lifting and carrying usually not to exceed 20 pounds.
Mental Requirements: Interpersonal interactions, problem-solving, analyzing/evaluating, decision making, discretion/confidentiality, math skills, teamwork, read/write/speak English, creativity and task handling.
Working Conditions: Work is performed in an office environment but also requires mobility within the office. May be required to travel to other Credit Union facilities and various locations for job-related training, meetings and events.
Salal Credit Union is an Equal Opportunity Employer.