Mortgage Loan Processor

Location
Herndon, VA
Posted
Nov 18, 2020
Closes
Dec 18, 2020
Ref
2020-1574
Function
Finance
Hours
Full Time
Overview

For more than 70 years, Northwest Federal Credit Union has provided valuable financial products and services for our members. Northwest offers employees a comprehensive benefits program including: medical and dental plans, paid time off, a generous 401k match, student loan assistance, parental leave, and the opportunity to grow professionally through a wide range of job-based, classroom and online training resources. Northwest Federal Credit Union has been recognized as a 2020 Top Workplace by The Washington Post and we believe that our success is built upon the excellence and achievement of our employees. Together, we serve and inspire to transform lives.

The primary purpose of this position is to assist Northwest Credit Union in living out our vision to be the lifetime financial partner for our member-owners. To achieve this goal, the position must deliver the highest quality service to internal and external members. The primary responsibility of a Mortgage Loan Processor is to ensure the timely and accurate processing of all first mortgage and equity loans. A key component of service to our external members is to identify their financial needs and recommend an appropriate Northwest Credit Union solution.

Responsibilities

  • Serves as the point of contact with current members who have a loan application in process
  • Convey information effectively to the member and remain responsive to requests for information
  • Use in-depth knowledge of mortgage products and internal policies to determine viability of mortgage application
  • Convey policies for extension of credit in accordance with Credit Union and secondary investor guidelines
  • Explain benefits of each program the applicant; effectively explain and communicate the terms of each product
  • Meets mortgage appointment/walk-in scheduling requirements and production expectations as determined by the immediate supervisor
  • Complete accurate and thorough first mortgage and equity loan applications either in person, over the telephone or via the online application portal as needed
  • Obtain pertinent financial information to determine if the borrower(s) meet the minimum established criteria
  • Order and analyze credit reports and request applicable documentation needed to satisfy loan conditions
  • Ensure accuracy of disclosures and provide to member within specified regulatory compliance time-frames
  • Examines and analyzes supporting documentation and clarifies missing or questionable information
  • Ensure all loans are in compliance with all investor, regulatory and PMI guidelines
  • Notify members of loan decision and potential issues
  • Order updated credit reports, property appraisals, title work, flood determinations, mortgage insurance and hazard insurance for all loan types
  • Review documentation for accuracy and clarifies missing or questionable information and follow-up with member for outstanding documents
  • Ensure that all necessary items are available for underwriting review and prepare applicable loan conditions and provide to underwriting for review
  • Coordinate settlement between title company\u2019s, attorneys and members from scheduling through funding
  • Satisfy all conditions of approval ensuring a seamless transition of the file onto Mortgage Loan Closing Team
  • Periodic follow up of loan pipeline to ensure rate lock time frames are not exceeded and works to ensure all loan commitments are satisfied
  • Remains cognizant of and adheres to NWFCU policies and procedures as well as regulations pertaining to the Bank Secrecy Act (BSA)


Qualifications

  • High school graduate or equivalent
  • At least 1 year mortgage experience as a Junior Processor, Processor or Closer or at least 1 year experience in a mortgage related field
  • Knowledge of Credit Union Policies and Procedures relating to mortgage operations
  • Knowledge of federal regulations and compliance issues such as RESPA, REG Z, HMDA, etc.
  • Basic knowledge of secondary market guidelines. SAFE Act Licensing required


EEO Notice

Northwest Federal Credit Union is an Equal Opportunity Employer and will consider all qualified applicants without regard to race, color, age, religion, sex, sexual orientation, gender identity, genetic information, national origin, disability, protected veteran status or any other classification protected by law.

NWFCU complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact the Human Resources Department at 703-709-8900 or HRDepartment@nwfcu.org.

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