Loan Operations Specialist

Description

University of Virginia Community Credit Union Members deserve the best, which is why we seek to engage talented and enthusiastic people who have a passion for excellence and a commitment to the credit union ideal of service and financial education. Be a part of something special – a not-for-profit financial cooperative with the social purpose of ‘people helping people.’

Summary:

The purpose of the Loan Operations Specialist role is to manage and oversee the administration of construction loans to ensure compliance with credit policies, regulations and risk management practices. This position will also assist with underwriting FHA, VA, USDA, Portfolio and Conventional Loans. 

Successful Loan Operations Specialists will possess the ability to adhere to deadlines and effectively partner with interdepartmental associates to ensure smooth and efficient processing of all loans in the pipeline. Courtesy, tact, and diplomacy are essential elements of the job.

Duties & Responsibilities:

• Act as the primary liaison with borrowers, inspectors, and title company representatives during the loan process
• Administer all aspects of the construction loan process to include the draw process, obtain accurate & compliant documentation, provide approval recommendations, disburse funding, reconcile and file maintenance.
• Conduct pre-construction conferences with borrowers, general contractors, sub-contractors, and mortgage loan originator to discuss use of Land Gorilla and disbursement process.
• Keep a detailed account of any updates/delays to construction progress and inform management as needed
• Update ledgers, budgets, and the funding log.
• Initiate the loan conversion/modification process at the end of construction and work closely with Servicing and Management when completed.
• Provide assistance when necessary with FHA, VA and Conventional loans underwriting process including clearing of minor conditions, ensuring all regulatory disclosures are provided, review & analyze Land surveys, environmental assessments, and building inspection reports.
• Review and evaluate information on mortgage loan documents to determine if buyer, property, and loan conditions meet FHA, VA, USDA, Portfolio and Conventional loan standards
• Ensure compliance with the Credit Union’s credit policies and regulatory requirements such as BSA, RESPA and Fair Lending requirements.
• Keep abreast of the latest updates in regulatory, investor and credit union guidelines and effectively communicate the updates to all mortgage division team members.

Requirements

Qualifications

• Five years to eight years of similar or related experience. 
• Minimum of five years in the mortgage/construction industry, with five years of experience in an underwriting role.
• Clear understanding of guidelines and regulatory requirements related to mortgage lending
• Experience with Desktop Underwriter (DU), Loan Prospector (LP), and Government Underwriting System (GUS) preferred
• Ability to identify and resolve potential issues during the construction process preferred
• Understanding of project timelines, milestones, and the ability to manage multiple construction projects simultaneously preferred
• Ability to analyze inspection reports to identify any potential issues, cost overruns, or compliance concerns and communicating them to the borrower and relevant parties preferred

We offer an attractive suite of benefits to employees who work an average of 20 hours per week or more, including: Health, Dental, Vision, a Company Retirement Plan Contribution of up to 7% after the first year of employment. Employees are eligible for Life Insurance, Long-Term Disability, Health & Wellness Spending Account, Tuition Reimbursement, and Employee Loan Discounts. Full-time employees accrue Paid Time Off starting with 18 days accrual annually, and 13 company paid holidays. Employees are also eligible for Family Forming Leave, and Volunteer Time Off. 

Equal Employment Opportunity has been, and will continue to be, a fundamental principle at the University of Virginia Community Credit Union, where employment is based upon personal capabilities and qualifications without regard to race, color, gender, gender identity, religion, sexual orientation, pregnancy, childbirth, or a medical condition related to pregnancy or childbirth, national origin, citizenship, disability, age, genetic information, marital status, amnesty or status as a covered veteran in accordance with applicable federal, state, and local laws.

Salary : $28 - $32