In this role you will be responsible for ensuring effective mortgage processing and servicing functions. You’ll be responsible for the work-flow processes to achieve maximum productivity, assure smooth and efficient processing and servicing functions, and ensure legal compliance. Additional duties include monitoring existing programs, ensuring that services are delivered professionally and efficiently, and members’ problems are resolved promptly.
- Professional, well-developed knowledge of credit union policies, some knowledge of NCUA Rules and Regulations pertaining to Home Mortgage Disclosure Act.
- Work required knowledge of real estate loan policy, credit granting criteria, interest rates and how they are computed, and required documentation for each type of loan. These characteristics are normally acquired through completion of a high school education plus completion of additional course work in lending or bookkeeping. At least three years of experience in a lending department or branch office of a credit union or financial institution required.
- Intermediate mathematical skills required (calculations and concepts involving decimals, percentages, fraction, etc.)
- Work required sitting for the majority of the day. Work also requires occasional lifting of up to 35 pounds and occasional bending, squatting, reaching and kneeling in order to access credit union records.
Duties and Responsibilities:
- Process loans to include verification of employment, deposit accounts, and all liabilities in order to prepare application of verified information, for both in house and secondary market loans.
- Request, track and review real estate appraisals.
- Request flood certification to determine if a property is or is not in a flood zone.
- Order title work from attorney. Review Title Commitment when received for liens and correct names.
- Obtain a copy of current homeowner’s insurance and flood insurance (if applicable) and make sure mortgage clause is in favor of the credit union or secondary lender. Ensure proper coverage.
- Assist Mortgage Loan Officer prepare closing package, researching and resolving all items in the closing package to ensure closing process is on-time and documentation is complete and accurate.
- Set up loans on the Data Processing System.
- Set up escrow accounts.
- Handle paying of all escrow accounts and perform needed maintenance.
- Request pay-offs for loan closings.
- Complete loan files after closings.
- Perform monthly maintenance on mortgage loans, including all mortgage loan servicing functions such as annual escrow account reviews.
- Prepare and file cancellations on paid off mortgage loans.
- Prepare HMDA reporting.
- Collect assessment numbers on all real estate properties mortgaged to the credit union and track tax status of the mortgaged property on an annual basis.
- Other duties as assigned.