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Mortgage Loan Processor in Memphis at Vaco

Date Posted: 10/9/2018

Job Snapshot

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    At least 3 year(s)
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Job Description

Responsible for preparing and processing all documents necessary for closing loans in accordance with Credit Union policies and procedures. Mails loan paperwork, disburses loans and coordinates closings with necessary personnel.


  • Process conventional and portfolio mortgage loans as well as Home Equity Lines of Credit and Second Mortgages to verify all documents and/or conditions are in the loan packet.
  • Review information to ensure completeness, accuracy and adherence to company policies and underwriter requirements. Documents reviewed/verified include income, employment, deposit, credit, appraisal, applications, debt ratios, interest rates, notes, security agreements, insurance documents, title documents, proper approvals, payments and disclosure items.
  • Gather background information on loan applicants, research discrepancies, communicate with members and loan officers to obtain missing or update documentation.
  • Consult with management to resolve issues on loans not meeting established guidelines.
  • Coordinate loan closing with members, loan officers and third parties. Contact members upon loan origination confirming loan terms and conditions, mails form letters and loan forms.
  • Enter information into mortgage loan operating system. Review data input to ensure all databases are properly updated. Audits the daily exception report to assume all exceptions are documented.
  • Ensure any necessary and critical changes which require re-disclosure have been accurately notated and checked in the loan origination system for compliance purposes.
  • Prioritize workflow in accordance with company's timeline expectations and adhere to all loan underwriting/processing policies and procedures.
  • Disburse all loan funding, close loans accurately and timely.
  • All other duties as assigned.



  • High school graduate or equivalent.

Experience Required

  • Four years lending experience with two years in indirect or residential first mortgage processing preferred.

Required Knowledge

  • Understanding of loan products and services. Knowledge of residential mortgage lending processing, related requirements, procedures and operations is essential. Knowledge of GAP, ACH, GL's.


  • Advanced ability to analyze complex tax returns and calculate income for all types of borrowers.
  • Advanced product knowledge of Conventional Mortgage loans, Home Equity Lines of Credit and Second Mortgages.
  • Working knowledge of Federal and State guidelines, rules and regulations such as RESPA, TILA, HMDA, etc.
  • Excellent written and oral communication skills.
  • Ability to work in a team environment.
  • Ability to manage as assigned pipeline in order to meet closing expectations. Excellent organizational skills, typing ability, and proficiency with Microsoft Word/Excel.