Mortgage Loan Processor

4 weeks ago

Metairie, United States XPLORE FEDERAL CREDIT UNION Full time

Role:

The Mortgage Loan Processor is responsible for the end-to-end management of mortgage and real estate loan processes. This includes interviewing and assessing loan applications, underwriting loans, processing applications, and servicing loans throughout their lifecycle. The role requires comprehensive knowledge of lending programs, policies, procedures, and regulatory requirements, ensuring compliance and maintaining a high level of member service.

Essential Functions & Responsibilities:
  • Loan Application & Processing:
  • Conduct interviews with loan applicants to assess financial needs and explain loan options.
  • Gather and review necessary documentation for underwriting and processing.
  • Pull credit reports, verify debts, and estimate unlisted payments.
  • Ensure accuracy of loan amounts, repayment terms, and disbursement processes.
  • Prepare and send documents for signatures, ensuring all paperwork is complete and organized.
  • Credit Analysis & Decision-Making:
  • Analyze financial data to assess credit risk and calculate financial ratios.
  • Recommend loan approvals within assigned limits or escalate to management as needed.
  • Establish and review loan terms with applicants, offering alternatives for denied or countered loans.
  • Cross-sell loan and credit products when applicable.
  • Pipeline & Documentation Management:
  • Manage a pipeline of active loans, ensuring timely progress and organization.
  • Conduct thorough reviews of loan files to ensure accuracy and compliance before underwriting or closing.
  • Oversee pre- and post-closing activities, including funding loans, processing payments, and disbursing escrow funds.
  • Scan, file, and organize closed loan packages, trailing documents, and insurance records.
  • Assist in Quality Control Audits and report the status of title work to department managers.
  • Title & Appraisal Coordination and Review:
  • Order appraisals and other property valuation reports as required.
  • Review appraisal reports to ensure accuracy, compliance, and alignment with loan terms.
  • Address discrepancies or concerns in appraisal findings with appraisals and underwriters.
  • Order title commitments and other property abstract reports as required.
  • Review title documents to verify ownership, lien status, and compliance with requirements.
  • Ensure all mortgage liens are satisfied through the transaction process.
  • Regulatory Compliance:
  • Maintain up-to-date knowledge of federal, state, and local mortgage regulations.
  • Ensure all processes comply with applicable laws, including HMDA reporting.
  • Participate in compliance training and uphold professional ethics.
  • Dispute & Escrow Management:
  • Investigate and process disputes through the e-OSCAR dispute management system.
  • Oversee escrow administration, including insurance verification, disbursements, and addressing complex issues.
  • Customer Communication & Service:
  • Proactively communicate loan status updates to members and address concerns.
  • Deliver exceptional service by understanding member needs and providing clear explanations of loan terms.
  • Collaboration & Support:
  • Work with underwriting and compliance teams to resolve discrepancies and advance loans.
  • Provide administrative support to Commercial Lending as needed.
  • Serve as a backup for Consumer Loan Underwriter duties when required.
  • Additional Duties:
  • Conduct light collections activities, such as contacting past-due accounts and mailing demand letters.
  • Stay informed of trends in consumer credit and participate in relevant training.
  • Complete other tasks as assigned to support operational goals.
Requirements:
  • Experience: Two years to five years of similar or related experience.
  • Education: A high school education or GED.
  • Licensing: This position is subject to SAFE Act registration requirements. Candidates must register with the federal registry system and remain in good standing.
  • Interpersonal Skills: Significant level of trust and diplomacy required, with extensive personal contact involving sensitive matters.
  • Other Skills: Attention to detail, ability to interpret financial documents, and proficiency with office equipment and software.

Experience with Calyx Point and Fiserv XP2 preferred. Self-starter with the ability to work with little supervision.

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