What are the responsibilities and job description for the Real Estate Loan Processor position at Frontwave Credit Union?
Overview
The Real Estate Loan Processor is responsible for organizing and executing processes related to mortgage loans. Provide support to External and Internal Home Loan Consultants to ensure accurate, efficient and timely loan processing. Provide clerical support to the mortgage department, assisting with loan setup by preparing and reviewing loan documents, ordering third party services, providing Initial Loan Disclosures and originating/processing First mortgage refinance and equity loans. Effectively manage a small pipeline of First mortgage refinances and home equity (closed and open ended) loans[KS1] . Responsible to uphold and abide by Frontwave’s core values and service expectations
About Frontwave Credit Union:
Frontwave Credit Union is a member-owned not-for-profit financial institution serving San Diego, Riverside, and San Bernardino counties. Founded in 1952, we have grown to 14 branches with 100,000 members and manage over a billion in assets. At Frontwave Credit Union, we are focused on creating consumer solutions to provide our members and the communities we serve with products and services that enhance the quality of life for our members through exceptional service and the progressive application of technology.
What’s In It For You:Competitive pay, 401k matching, mortgage and auto discounts.9-27 days of PTO per year (based on tenure) and 10 paid holidays.Affordable medical, dental, vision health plans, and Flexible Spending Account.Employee Assistance Program with a variety of services.Career development, training, and coaching, mentoring; tuition reimbursement up to $4,000/year.Culture of excellence and continuous improvement.We strive to be the best place you’ve ever worked!
Responsibilities
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Includes the following non-inclusive list. Other duties may be assigned. All duties are to be performed in compliance with applicable laws, regulations and Credit Union policies and procedures.
- Work closely with Home Loan Consultants, Processors and Managers to Set-Up newly submitted mortgage applications
- Prepare and set up loan files and issue initial loan disclosures (both Mail & Electronic versions)
- Order third party services such as escrow, title, credit and appraisal/Automated Valuations
- Review incoming documentation for accuracy, completeness and compliance
- Order government Certificate of Eligibility for VA loans
- Maintain both internal and external communication, keep loan notes updated with current loan information
- Order 4506 Transcripts
- Order and/or obtain all verifications for loan borrowers as needed: Employment Verifications (VOE), Verification of Deposits (VOD), mortgage/rental payment, Flood Certs, verbal verifications for all loan files
- Order various types of appraisals, maintain relationship with AMC
- Assist with processing cancelled/withdrawn/denied files
- Maintain a thorough understanding of state and federal laws and regulations related to mortgage compliance including BSA, RESPA, TILA and TRID laws appropriate to the position.
- Manage pipeline in accordance with the credit union’s service standards
- Continually work files for member follow up and note all interactions and updates within the loan origination system
- Awareness of personal turn times always striving for efficiency on moving files through the pipeline
- Demonstrate a sense of urgency to work files, receive member conditions and prepare loans for closing, send loans to closing with minimal errors
- Perform income calculations, introductory knowledge of self-employed cash flow analysis
- Clearing conditions if applicable to internal procedures
- Research and respond to audit related requests
- Ability to research investor guidelines and interpret AUS findings
- Review appraisal for value and be able to understand the impact to CLTV
Qualifications
EDUCATION and/or EXPERIENCE:
High School Diploma or general education degree (GED). Minimum one year processing experience in a real estate loan processing, a related financial field and/or training; or equivalent combination of education and experience.
Service Excellence Standards
When joining Frontwave Credit Union, you can expect to be a part of a workforce committed to the following Service Excellence standards: • We see it. We own it. We get it done. • We ignite positive experiences. • We do things right every time. • We are collaborators – united, cohesive and engaged. • We innovate and evolve. • We create memorable experiences for life. • We starts with me.
