Residential Mortgage Processor - Level II

Job Description

Job Description

Description : SUMMARY :

Extensive administrative and member service work with primary responsibilities for the timely and accurate processing, validating and closing of a loan file. A Retail Mortgage Processor must have the ability to maintain effective communication with the member to ensure coordination and exchange of information for accomplishing the closing of the member’s mortgage. Retail Mortgage Processors receive moderate supervision in the performance of duties and responsibilities. Work is generally evaluated on obtaining objectives with accuracy, timeliness and results.

ESSENTIAL RESPONSIBILITIES & DUTIES :

Entry Level 1

• Communicates with loan officers, members and internal customers
• Reviews residential loan application file to verify that application data is complete and meets establishment standards, including but not limited to type and amount of mortgage, borrower assets, liabilities, and length of employment.
• Understands mortgage real estate lending practices, including federal regulatory requirements, state regulations, agency and Credit Union requirement.
• Enters information into loan origination system; verifies the accuracy and integrity of all loan data entered into the system including but not limited to names, addresses, government monitoring information, loan information (i.e. loan amount, interest, terms, lock-in expiration dates, etc.)
• Provides an overview of the loan process to the member and informs member of information necessary to process the loan.
• Prepares loan disclosure packages for signature.
• Conducts follow up on outstanding documentation to ensure receipt within turn-around time standards.
• Employs sound judgment in the process of validating loan approval utilizing Fannie Mae Desktop Underwriter. Verifies income and assets as required in the DU verification messages. Review credit report as needed to address any inconsistencies identified in the DU findings.
• Reviews appraisals to ensure that the required level of appraisal fieldwork has been completed, that they are professional quality and are prepared in a way that is consistent with Fannie Mae requirements.
• Manages incoming appraisal reports and request reviews
• Submits full credit package for Mortgage Insurance Certificate.
• Makes sure the loan is locked prior to closing.
• Requests insurance binder.
• Schedules closing with outside closing agents and approve settlement statement.
• Works with staff and co-workers as a team in analyzing and solving situations that may arise in the mortgage origination loan process.
• Follows company policies and procedures.
• Performs related duties as required.

Level 2 (all above plus)

Level 3 (all above plus)

OTHER DUTIES, KNOWLEDGE, SKILLS, ABILITIES :

Required : must have familiarity with systems, processes, laws / regulations / guidelines / principles, software, interactions with individuals or teams, etc.

Preferred :

COMPENSATION : $ 21.89 – $27.11 per hour.

Servion has provided a salary range that represents its good faith estimate of what the company may pay for the position at the time of posting. The specific salary offered will be determined based on factors such as the qualifications of the selected candidate, departmental budget, internal salary equity considerations, and available market information.

General Description of Benefits :

All full-time employees are eligible for Medical Insurance, Telehealth Services, Dental Insurance, Vision Insurance, Life Insurance, Short-term Disability, Long-term Disability, Legal and Identity Theft Protection, Critical Illness Insurance, Hospital Insurance, Accident Insurance, Participation in 401k Plan with up to 5% company match, and Variable Bonus Pay.

Requirements :

REQUIRED QUALIFICATIONS :

Education : High school diploma or general equivalency degree (GED) required. Candidates with a two to four-year degree preferred.

Experience :

I. Level 1 - minimum 1 year in mortgage or financial services industry.

II. Level 2 – 2+ years in the mortgage industry processing conventional and FHA or VA loans

III. Level 3 – 3+ years in the mortgage industry processing conventional, FHA, VA and USDA loans.

Licenses / Certifications : None