What are the responsibilities and job description for the Mortgage Loan Processor position at Maui County Federal Credit Union?
POSITION PURPOSE
Primary purpose is to provide clerical support and loan monitoring assistance for the mortgage department. Secondary purpose is to provide assistance in the origination, processing, closing, and servicing of mortgage loans. Provides prompt and professional service to members and prospective members in the branch, via telephone calls, and through electronic communication. Assists in other areas of the loan department as needed and as directed by loan managers.
NATURE AND SCOPE
This position requires a high level of organization skills to ensure the proper recording and dissemination of required information. Efficiency and accuracy as well as professionalism in communication are vital to the successful execution of this position.
This position requires excellent public relations skills and a thorough understanding of lending programs, policies, and procedures, as well as related legal requirements. Tact, good organizational abilities, and a willingness to assist others is also critical to the successful execution of this position. Incumbents should be able to handle the most complex lending functions within assigned limits.
ESSENTIAL FUNCTIONS AND BASIC DUTIES
1. Assumes responsibility for providing effective clerical and loan monitoring support for all phases of loan processing activities and promotions.
- One of the primary persons to receive loan department phone calls and inquires. Responds promptly, professionally, and appropriately to member’s or other party’s requests. Records, directs, and relays messages and questions to the appropriate personnel. Follows up to make sure that matters are resolved.
- Assists in the booking and funding of loans.
- Assists in the preparation of loan closing documents.
- Assists in the scanning, stacking, filing, and transferring of loan documents.
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Assists in creating, maintaining, and updating loan files.
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Responsible for servicing duties including, but not limited to:
- Preparing and processing payoff requests
- Preparing and monitoring release of mortgages, vehicle titles, and other collateral releases
- Preparing and processing subordination requests
- Monitoring the expiration of HELOC draw periods
- Preparing and processing requests to extend HELOC draw periods
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Assists in monitoring duties including, but not limited to:
- Monitoring and tracking receipt of title insurance policies
- Monitoring and tracking receipt of recorded mortgage documents
- Monitoring and tracking receipt and filing of vehicle titles
- Insurance tracking and monitoring including the placement of forced placed insurance
- Follows up on pending items
- Assists in problem loan workout arrangements,
- Assists in address changes, payment extensions, and payment due date changes.
- Assists in the credit review function.
- Assists in processing mail and distributing to branches and appropriate personnel.
- Types and mails adverse action letters.
- Assists in correspondence for loan product promotions.
- Completes duties in accordance with policies, procedures, and regulations.
2. Assists in effectively receiving, reviewing, processing, and closing loans.
- Interviews potential borrowers, takes loan inquiry information, gathers information and documentation, makes
photo copies of documentation. Verifies loan documentation. Requests additional information if required.
- Properly informs members of Credit Union policies, products, and services.
- Receives and inputs loan applications in the loan origination software.
- Runs and analyzes credit reports
- Calculates income and debt to income ratios.
- Calculates loan terms, finance charges, and insurance on loans for proper disclosure on promissory notes.
- Assists in preparing early disclosures.
- Assists in loan closings/signings as needed.
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3. Assumes responsibility for establishing and maintaining effective and professional business relationships with members and external contacts.
- Resolves (or refers) requests and problems promptly and courteously. Answers member questions pertaining
to promotions, loans, balances and payoffs. Assists walk-ins.
- Keeps members properly informed of Credit Union policies and procedures.
- Maintains and conveys the Credit Union’s mission, vision, and professional reputation.
- Actively and professionally cross-sells Credit Union services.
4. Serves as a Notary Public for the credit union.
5. Assumes responsibility for establishing and maintaining effective coordination and communication with area personnel and with management.
- Supports and assists area personnel as needed.
- Attends and participates in meetings and training as required.
- Keeps management informed of area activities and of any significant problems.
6. Assumes responsibility for related duties as required or assigned.
- Performs miscellaneous clerical and secretarial functions as needed
- Keeps desk, equipment, and work area clean, secure, and well-maintained.
- Protects and secures confidential non-public information.
- Substitutes and acts as a back-up for other personnel as assigned.
- Performs any other duties as assigned.
PERFORMANCE MEASUREMENTS
1. Records, reports, files, and related documents are accurate, current, and up-to-date.
3. Credit applications and related financial data are accurately and effectively analyzed and evaluated.
4. Good business relations exist with members. Problems and questions are courteously and promptly resolved or referred.
5. Good working relationships and coordination exist with area personnel and with management. Assistance and support are provided as needed. Management is properly informed.
6. Functions are completed in accordance with established policies and procedures.
7. The Credit Union’s professional reputation is maintained and conveyed.
QUALIFICATIONS
Education/Certification: High school graduate or equivalent.
Required Knowledge: Understanding of consumer and mortgage loan products and services.
Knowledge of Credit Union loan services, policies, and procedures.
Understanding of related legal and regulatory standards, and required loan documentation.
Knowledge of loan processing functions and related requirements and procedures.
Experience Required: Two years of office experience required. Credit union experience preferred.
Skills/Abilities: Excellent verbal and written communication skills.
Excellent interviewing and public relations skills.
Strong analytical and financial skills.
Ability to operate related computer applications and other business equipment including calculators, typewriter, printer, telephone, and notary calculators, typewriter, printer, telephone, and notary stamp.
Well organized.
PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION
Finger Dexterity: Using primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together.
Talking: Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.
Average Hearing: Able to hear average or normal conversations and receive ordinary information.
Repetitive Motion: Movements frequently and regularly required using the wrists, hands, and/or fingers.
Average Visual Abilities: Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.
Physical Strength: Sedentary work; sitting most of the time. Exerts up to 10 lbs of force occasionally. (Almost all office jobs.)
WORKING CONDITIONS
None: No hazardous or significantly unpleasant conditions (such as in a typical office).
MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION
Reasoning Ability: Ability to deal with a variety of variables under only limited standardization.
Able to interpret various instructions.
Mathematics Ability: Ability to compute discount, interest, profit, and loss; commission markup and selling price; ratio and proportion and percentage.
Able to perform very simple algebra.
Language Ability: Ability to read a variety of books, magazines, instruction manuals, atlases and encyclopedias.
Ability to prepare memos, reports, and essays using proper punctuation, spelling and grammar.
Ability to communicate distinctly with appropriate pauses and emphasis; correct punctuation (or sign equivalent), and variation in word order; using present, perfect, and future tenses.