What are the responsibilities and job description for the MORTGAGE LOAN PROCESSOR position at Hope Credit Union?
About Us
Recognized as one of the most successful Black and Women owned credit unions in the nation, HOPE continues to build its brand and impact by expanding access to financial services and engaging in advocacy to mitigate the extent to which factors such as race, gender, birthplace and wealth limit one's ability to prosper. Since 1994, HOPE has generated more than $3.6 billion in community development financing that has benefitted more than 2 million people in Alabama, Arkansas, Louisiana, Mississippi, Tennessee and nationwide. This work has supported small business owners struggling to gain access to capital, families seeking to own homes and individuals looking for a better way to manage their hard-earned money with a financial institution they can trust.
Job Summary
The Mortgage Loan Processor is responsible for processing loan files by verifying the information the applicants supply on the application, documenting it in accordance with the terms and conditions of the loan approval, and providing the information necessary for the closing of the mortgage loan. This involves the verifying of the applicant's income, assets, liabilities and collateral value. It may also involve gathering additional documentation required to qualify applicant for various grant programs.
Primary and Essential Functions
- Review file received from originator / correspondent lender for necessary documentation and disclosures.
- Review the file input in mortgage software and any grant specific software.
- Follow-up on any documentation that has not been received, including ordering the appraisal, FHA / VA case numbers, and alternative documentation if required, etc.
- Follow-up on any grant specific documentation that is needed.
- Order Credit Alert Interactive Voice Response System (CAIVERS), check Limited Denial of Participation (LDP) / General Services Administration lists.
- Evaluate documentation received for correctness and completeness.
- Prepare file for submission to underwriting and grant program underwriter or coordinator.
- Follow-up on any additional requirements by underwriter and / or grant program underwriter or coordinator.
- Complete information necessary for the closing of the loan including contacting the attorney for setting the closing date, insurance agent for insurance policy, flood cert, etc.
- Provide the loan closing documents for grant programs.
- Communicate with the originator and applicant concerning the progress of the loan file.
- Complete denial / cancellation procedures on all files that are denied or cancelled.
- Deliver post-closing documents to grant providers as required.
- Provide excellent internal and external customer service.
Secondary Functions
Regulatory Compliance Requirements
Accountability for Business Results
Specified Authority Level
Competencies / Skills
Desired Qualifications
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
