Sr Equity Loan Processor
May act as a “Floater” covering responsibilities assigned to other staff while they are out of the office.
Assists assigned team in daily tasks and may handle more complex loans.
Will assist the supervisor in conducting quality assurance monitoring of assigned Processors.
Acts as a Team Lead for selected group of Equity Processors.
Serves as a first level of support for Equity Processors, Funders and other Equity Staff.
Assist in maintaining the daily workflow of processors, funders and assistants in the equity department.
Will assist the supervisor as a designated trainer for new or existing staff as needed.
Maintains production reports as needed.
Provides input to Supervisors and Managers for feedback to the Processors.
Will assist in handling equity phone calls from members and operations staff.
On assigned loans, incumbent will evaluate and review initial loan application and all supporting documentation to determine product and underwriting compliance for accuracy and completeness. Inputs the loan documentation information into the system with pended loans sent to the Underwriter for review.
Maintains contact with members answering inquiries concerning the equity loan process. Determines and requests the essential documents and information required and conducts regular follow-up to ensure all documentation is received.
Orders property valuation through tax assessments, AVM’s, and appraisals as required by regulations and policy. Orders flood certification, property and judgment report and other necessary documents. Performs in-depth evaluation of the data received to ensure that all documentation is in order and PenFed's interests are protected.
Notifies members of final loan decision on assigned loans, informs member of requests to close the loan and sets up settlement appropriate to the member's individual situation.
Acts as liaison with appraisal vendors to ensure that full FNMA appraisals are performed as required with responses submitted to PenFed in a timely manner and documentation filed appropriately.
Notifies the supervisor of any deviation from standard processing time for other processors and will help in providing assistance and alternatives to ensure members receive timely service.
Maintains the necessary records in Penguin to ensure that PenFed is in compliance with HMDA and RESPA reporting requirements.
Serves in a support function to PenFed Operations employees in answering inquiries and providing information on equity loan programs.
Maintains a working knowledge of equity products to accurately respond to member questions and handles member calls.
Compiles the completed loan application package and prepares the file for final approval and coordinates closing date with member and sends out closing documents.
Ensures compliance with all PenFed policies and procedures as well as all regulatory requirements including but not limited to RESPA, REG Z, ECOA, & HMDA. Updates systems and completes required paperwork for compliance where applicable.
Assists with maintaining PenFed’s compliance with all applicable federal, state and local laws, regulations and ordinances by abiding by PenFed compliance program and all policies, procedures, rules and regulations.
Assists with special projects as assigned.
Researches problems and files documents as required.
Assists and cross trains in other positions as required.
Performs duties of other staff members as required.
This is not intended to be an all-inclusive list of job duties.
Bachelor’s Degree in Business, Finance, Accounting or a related field is required and/or accounting/payroll certifications or direct payroll PeopleSoft HR experience.
Minimum of two (2) years’ of experience in accounting and financial reporting is required.
Familiar with a variety of the payroll concepts, practices, and procedures.
This position will not supervise employees
There are no additional certifications for this position.
Bending, Stretching or Reaching
Talking on the phone, person-to-person & in group
XHearing on the phone, person-to-person & in group
XVision for near, mid-range, far, peripheral, depth and color
XUse of computer
XUse of telephone
XUse of office equipment
XPushing/pulling/lifting/ carrying from 5 to 50 lbs.
Travel Limited travel to various worksites is required.
Founded in 1935, and still growing, we began as the War Department Federal Credit Union. Today, PenFed is one of the country’s strongest and most stable financial institutions with over 1.5 million members and over $21 billion in assets. We serve members in all 50 states and the District of Columbia, as well as on military bases in Guam, Puerto Rico and Okinawa.
Our mission isn’t simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, and to encourage. We exist to usher their dreams into the land of reality.
We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.
PenFed is an Equal Opportunity Employer
PenFed will maintain and observe personnel policies which will prohibit discrimination or harassment against a person because of race, color, creed, age, sex, gender, religion, national origin, ancestry, genetic information, military or veteran status or obligation, the presence of a physical and/or mental disability and all other statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same. PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 703-838-1568.