Mortgage Loan Processor

Mortgage Loan Processor

Bellwether Community Credit Union (BCCU)

Merrimack, NH

Full-time - Non-Exempt

Pay - $25-$29 based on experience

Overview

Bellwether Community Credit Union (BCCU) is seeking an experienced professional for the position of Mortgage Loan Processor. For over 100 years, we've made New Hampshire our home and have provided thoughtful guidance and customized solutions to help our members. As one of the "Best Places to Work" in New Hampshire for 10+ years, BCCU is a community-based credit union with a strong commitment to "people helping people".

The Job

The Mortgage Loan Processor is responsible for loan file computer set up and ordering of all loan documentation required on residential loan applications which are in first lien position and collection and evaluation of all documented information required. This person will verify through alternate documentation or outside sources, the validity of the application information, calculate debt-to-income and loan-to-value ratios, and assemble a completely documented file for submission to underwriting with a letter of recommendation. The Loan Processor will also be responsible for scheduling mortgage closings with all stakeholders, reviewing mortgage files to ensure required documents are complete and accurately meeting all applicable federal regulatory and compliance standards.

Key Priorities Include

• Have a thorough knowledge of first mortgage real estate lending practices, including federal regulatory requirements, state regulations, and agency requirements.
• Have a thorough knowledge of conventional, FHA, VA, USDA, and special mortgage loan programs; and the necessary documentation for processing and obtaining underwriting approval.
• Obtain all information necessary from borrowers and other third party resources to process loans and obtain underwriting approval as needed.
• Set up files on system, order credit reports, appraisals, and necessary verification forms and conduct follow up with outside sources for outstanding documentation on non-automatic underwriting files.
• Review and analyze all documentation received and determine ratios and credit acceptability after documentation is received. Log documents into the loan file and computer system.
• Process the approved, withdrawn and rejected files by communicating oral and written underwriting decisions and conditions to the Loan Representative for further communication to members and realtors on property and loan.
• Ensure regulatory requirements are met in processing the approved, cancelled, and rejected loan application.
• Maintain and update loan files on the loan origination software as the loan flows through the system from processing to closing.
• Maintain effective communication with all Credit Union employees to ensure coordination and exchange of information for accomplishing Credit Union goals.

Qualifications

• Professional, well-developed interpersonal skills essential for interviewing loan applicants and projecting a positive image as representative of the Credit Union.
• Knowledge of underwriting guidelines (FNMA, FHLMC, FHA) and other investors used by BCCU. Knowledge of all state and federal regulations affecting mortgage lending including but not limited to Reg Z, ECOA, Reg B, and HMDA. General knowledge of NH Real Estate Law.
• A minimum of two to three years' experience as a mortgage loan processor, with an emphasis on conventional, FHA, VA products, and other loan products.

• Intermediate mathematical skill required (calculations and concepts involving decimals, percentages, fractions, etc.). The ability to perform income analysis to compute income to payment and debt to income ratio and Loan to Value.

Work Environment

As part of the Bellwether Team, you'll experience our commitment to your personal and professional success through our "Best Places" culture, training opportunities, competitive salary, and benefits package.