Mortgage Loan Processor in San Diego at Vaco

Date Posted: 2/13/2020

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    San Diego
  • Job Type:
  • Experience:
    At least 2 year(s)
  • Date Posted:
    2/13/2020
  • Job ID:
    MORTG13149

Job Description

Position Summary:

Responsible for the processing and maintenance of mortgage applications in compliance with applicable Federal, State and NCUA rules, regulations, laws and secondary market guidelines. Provide members applying for a mortgage loan with detailed guidance on product, pricing and the loan process from application to close.

Minimum Qualifications (Education, Experience, Skills):
 High school education or equivalent.
 A minimum of 2 years of prior experience in real estate lending processing
 Working knowledge of financial institution regulations and policies, including Reg Z, Reg B, TRID, FCRA & FACTA, and Equal Credit Opportunity Act (ECOA).
 Basic PC and Microsoft Office skills.
 Effective written, verbal, and organizational skills.
 Ability to work effectively under pressure and with large volumes.

Essential Duties and Responsibilities:
 Act as the main point of contact throughout the entire mortgage process, ensuring excellent levels of service by providing guidance on process, product and pricing in a detailed and comprehensive manner.
 Pre-qualify members to include discussing, rates, terms and/or financial options. Review initial mortgage application and ensure accurate data input in related information systems.
 Determine initial potential for qualification by evaluating credit history, income levels and assets/liabilities; calculate debt- to-income and loan-to-value ratios. Review and evaluate DU findings, credit reports, preliminary title reports, flood certifications, appraisals, and income and asset documentation prior to forwarding the file to the underwriter.
 Prepare Loan Estimate within required time frames and according to regulations. Ensure proper re-disclosures are prepared to the member within regulatory guidelines based on identified change in circumstances.
 Order third party reports including credit reports, flood certificates, homeowner's association certificates, title reports and appraisals.
 Communicate conditional approval letter or notice of incomplete to members according to established service level agreement and workflow process. Complete loan locks and communicates rate lock policy requirements to members.
 Ensure timely receipt and proper completion of all loan documents in accordance with established procedures; organizes documentation in established file order for underwriter review.
 Clear conditions within designated authority, make changes to loan if applicable, and update all related documentation in appropriate information systems.
 Prioritize workload to manage timely submission of loan files to underwriting; track files and clear underwriting conditions to meet all expected closing dates. Maintain communication with members, agents and vendors regarding the status of the loan process.
 Provide excellent service to members (external and internal) by completing the loan process timely, efficiently and with minimal errors.
 Improve current procedures by consistently reviewing system utilization and process workflows and provide recommendations to management.
 Assist team members and other departments with lending guidelines, process workflows and loan documentation questions.
 Keep current with knowledge of the credit union's lending updates, criteria, guidelines, procedures, policies and processes. Ensure loan documentation is complete and accurate according to credit union policy requirements, lending guidelines and compliance regulations.
 Participate in AML/BSA compliance training as assigned. Adhere to credit union AML/BSA policy and procedures including CTR rules and form preparation, identify and refer suspicious activity to the Compliance Department, perform OFAC comparisons, and properly identify individuals in accordance with Branch Operations procedures.

Physical Demands and Work Environment:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel objects, tools, or controls and talk or hear. The employee is frequently required to stand and reach with hands and arms. The employee is occasionally required to walk; sit; climb or balance; and stoop, kneel, crouch, or crawl.
The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.
The noise level in the work environment is usually moderate.