Sr. Loan Processor

NIH Federal Credit Union
Rockville, MD
Nov 24, 2020
Dec 02, 2020
Accountant, IT
Full Time
Description:We are looking for more than just an employee, we are looking for a true team member dedicated to enhancing the member experience! Come join the credit union movement and Discover Banking With Heart at NIHFCU!Be a part of our team where commitment to members with exceptional service and banking solutions that enhances their lives is our mission. If helping people and making a difference appeals to you, this is the place for you!At NIHFCU, one of our core values is investing in our employees, which is why we offer perks like these:* Benefit Package for all Full time employees includes health, dental, vision, Life insurance benefits* 401(K) and profit sharing* Tuition Reimbursement* Career Advancement and development* Credit Union Membership with discounted services and productsGENERAL SUMMARYProcess 1st trust mortgage and home equity loans by gathering and analyzing documentation required to facilitate the movement of those loans through to Underwriting and Closing as efficiently and timely as possible. To be a leader within the department and to help Management achieve department goals and objectives.MAJOR DUTIES AND RESPONSIBILITIESEvaluate complex transactions and different types of loans including but not limited to, Conventional, FHA, VA, HOC, MI companies and NIHFCU portfolio and Agency specific products.Ability to effectively manage an average pipeline of 30 plus files to ensure the timely moving of files in order to meet deadlines for rate locks, purchase contracts and any other applicable dates that must be met. Respond to general and specific questions from borrowers/members and Loan Officers as it pertains to the status of their loans in progress and communicate any outstanding documents or issues that have arisen on the loanMaintain a working knowledge of agency guidelines, government, and portfolio products.Re-disclosure of LE and CD to members as applicable throughout the loan process ensuring compliance with TRID.Calculate housing debt to income and loan to value ratios independent of the information found in the mortgage system to verify accuracy and update if necessaryConfirm that the terms of the loan and the applicants eligibility requirements conform to NIHFCU credit overlaysVerify and analyze documentation received to include; credit, paystubs, w-2s, personal tax returns, business tax returns, bank statements, retirement statements, property appraisals, Review AUS findings and Drive Report along with any other necessary documents to determine adherence to FNMA/FHLMC/NIHFCU/Investor and AUS guidelines and requirementsReview 1003, credit report and sales contract in their entirety for accuracy and completeness, and all supporting documents against the information entered in LOS.Upon initial review of loan file, order any necessary documents to ensure complete loan file for submission to underwriting including but not limited to an appraisal, Drive Report, SS# verification, verification of rental history, 3rd party verification of self-employed business, HOA fee amount and frequency, employer verification, condominium questionnaire/budget, flood cert, tax transcripts, title work, COI and Home Owners insurance. Collect appraisal and condominium fees, if applicable.Review any changes to the loan transaction throughout processing and underwriting phases of the loan, determine if changes affect loan, resubmit to AUS, Secondary and Underwriting as necessaryInteract closely with management, underwriting, closing, loan officers, members, title companies, real estate agents, and our AMCs to provide and obtain regular updates to achieve goals for production time, pull through and customer satisfactionCollaborate with Underwriting and Closing to ensure loans are underwritten and closed by contract or rate lock expiration dates, whichever is soonerAccess Member or Associate personal and financial information only as required by the job. Maintain confidentiality and security of all Member or Associate personal and financial information.Serve as back up to the closer for closing and funding first and Home Equity LoansBe responsible for compliance with Federal, State, County, NCUA, NIHFCU, Private Investors, Freddie Mac/Fannie Mae and MI guidelines..Requirements:EDUCATION & EXPERIENCEA minimum of 10+ years processing conventional, MI and Agency specific products. A college degree in a pertinent field is preferred or equivalent work experience needed. Demonstrate a working knowledge of Fannie Mae/Freddie Mac and FHA guidelines as well as credit union lending policies, procedures, and regulations. Possess a thorough understanding of the requirements and features of the mortgage loan programs offered by NIHFCU, other private investors, and the secondary mortgage market. Demonstrate the ability to conduct a thorough review of a loan file, analyze the requested transaction and quickly identify problems that may exist as early in the process as possibleJob Skills:* Effectively communicate via telephone, e-mail or fax* Analytical attention to detail* Ability to learn and work in a fast paced environment* Ability to multi-task and prioritize work as required* Knowledge of mortgage loan origination and processing softwareREQUIRED COMPLIANCE COURSESEnsure that work results and processes comply with relevant laws and with established NIHFCU policies, procedures, and practices, including, but not limited to, the Bank Secrecy Act (BSA).Attend all required training or complete and pass all online required training courses as applicable.NIHFCU is an Equal Opportunity Employer and does not discriminate against employees or applicants based on race, color, religion, sex/gender, national origin, disability, age, or any other category protected by law.PM18

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