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The Senior Mortgage Processor (“Processor”) is responsible for reviewing first mortgage loans for completeness, updating information in the computer system, ordering documentation including credit, appraisal, title work, income/asset verification, etc. required to meet portfolio and investor program guidelines. Processor will package first mortgage conventional loan requests and submit to MLS Underwriter for approval; FHA, VA and USDA loans will be uploaded to a secondary market investor. Provide quality customer service between and for internal and external customers.
Major Tasks, Responsibilities and Key Accountabilities
Order documentation from the borrower or external sources that are needed to facilitate a loan decision, including income and asset documentation, appraisals, title work, etc.
Review income documentation, performing complex analysis of tax returns when needed, to compute borrowers qualifying income
Review asset documentation to insure assets are sourced and seasoned per program guidelines and the borrower has sufficient funds to close the transaction
Review the appraisal to insure compliance with HVCC and the TFFCU guidelines
Review title work and resolve any issues to insure no material defects will encumber the property
Review credit information to insure the borrower meets program guidelines
Submits first lien loan packages to Underwriting for approval.
Prepares loan package for submission to closer
Work with Loan Originator, Underwriter and Closer to resolve issues and facilitate a smooth loan process and closing for the borrower
Communicate with borrower, Realtor, Closing Agent regarding documentation required, file progress, closing arrangements, etc, while maintaining borrower confidentiality
Participate in training and continuing education to stay abreast of changing Laws and Regulations regarding processing and underwriting of Fannie Mae and FHA Loans.
Answer incoming calls, assisting applicants with questions about loan files in process; or re-directing the caller to appropriate staff in other areas of MLSI or the Credit Union.
Maintains up to date knowledge and adheres to all regulations, policies, procedures and standards that pertain to this position.
Capable of handling a pipeline of 50-75 loan files, with an average processing time to approval that meets current department goals.
Prepare and submit reports as assigned
Perform other duties/projects as assigned
Train other processors so they are capable of doing FHA, VA, and USDA loans.
Monitor other processors effectiveness on FHA, VA, and USDA loans.
Clear all stipulation on FHA, VA, or USDA submitted to outside lenders.
Major Skills and Competencies
· Knowledge of mortgage product and underwriting guidelines, and regulatory requirements; with emphasis on
FHA, VA, and USDA loans.
· Must possess excellent oral and written communication skills
· Maintain a high level of business acumen with the ability to develop strong relationships with borrowers, branch personnel and industry partners
· Ability to identify and facilitate change in a deadline driven, highly regulated environment
· Competency in basic math skills such as calculating interest and mortgage payments
· Attention to detail and problem solving skills are essential
· Comfortable working with and balancing data in a variety of loan systems
· Must work well under pressure and be able to meet externally influenced deadlines
· Solid time management skills and the ability to organize, prioritize and perform multiple tasks simultaneously
Physical Job Requirements
Frequent periods are spent standing or sitting in the same location with some opportunity to move about; occasionally there may be a need to stoop or lift light objects (typically less than 8 pounds).
· Ability to accomplish the described responsibilities through the use of computers and technology.
· Ability to sit and/or stand for extended periods of time.
· Ability to work in a changing, challenging and fast paced work environment.
· Variable stress levels.
· Ability and willingness to work overtime as needed
· Provide own transportation
Environmental Job Requirements
Typically located in a comfortable, quiet indoor area. There may be regular exposure to mild physical discomfort from factors such as dust, fumes or odors, temperature extremes, strong drafts, or bright lights.
· 4-year college degree or equivalent work experience in the mortgage lending field is required
· Minimum of 5 year’s experience in FHA, VA, USDA and Conventional and portfolio loan processing.
· Pass the pre-employment Drug Test and Background Check
· Must meet standards for financial institution bonding.