Senior Mortgage Loan Processor

Job Summary

The Senior Mortgage Loan Processor reviews and gathers documentation, verifies information, and orders loan-related documents to submit for underwriting of mortgage loans within UFCU and industry guidelines. This role assumes primary responsibility for the loan file and loan documentation from the receipt of the contract through closing/funding.

The Senior Mortgage Loan Processor reports to the Senior Manager, Mortgage Loan Operations.

About UFCU

Our Credit Union was founded in 1936 and has grown to serve members throughout Texas and beyond. At UFCU, we are more than just a financial institution, and our people are more than just employees. We are dedicated to our purpose of empowering our Members to achieve financial success and build brighter futures.

In pursuit of our aspiration that UFCU is loved by millions of Members and built to thrive for generations, we are guided by our values:

Purposefully Member-Obsessed

We are driven by a profound sense of empathy to deeply understand our Members’ needs and preferences, what brighter futures means to them, and the obstacles in their way. We act in our Members’ best interests, forever seeking to empower their financial success.

Possibilities Reimagined

We are inspired to courageously experiment, learn, and iterate in pursuit of positive impact for our Members, UFCU, and coworkers. We challenge assumptions, embrace diverse perspectives, and make use of data and insights.

Performance Excellence Rooted in Unwavering Integrity

We do the right thing, always. We champion teamwork, accountability, continuous improvement, and celebrate successful outcomes of others, fostering an inclusive environment of excellence and collaboration.

 

Essential Functions

Loan File Evaluation and Documentation

• Evaluates loan applications and accompanying documents to determine compliance with Automated Underwriting System (AUS) results and guidelines; conducts further due diligence and re-evaluates based on AUS as needed
• Performs thorough review of credit report
• Reviews employment information and collects necessary supporting documentation
• Reviews asset statements and financial information and collects necessary supporting documentation
• Communicates with members and maintains effective follow-up to ensure receipt of documents necessary for loan processing
• Evaluates appraisals for accuracy, making sure any corrections, adjustments, and repairs are completed prior to underwriting submission
• Orders property information including title, flood certification, and homeowner’s insurance documents
• Reviews title documents for valid ownership, chain of title, taxes, subordinate liens, liens and judgments, and current mortgage holder
• Performs due diligence on loan package to ensure it is complete and thorough before submitting for underwriting approval
• Verifies that Underwriter receives and clears all underwriting conditions and prepares the file for submission to the Closing Department
• Stays current on all underwriting guidelines and quality control policies

 

Communication

• Performs timely follow up with key individuals to resolve problems and/or responds to inquiries
• Works collaboratively with Loan Officers, Underwriters, and Closers to resolve problems.
• Handles all member communication during the processing of the mortgage loan.

 

Other

• Adheres to all company policies, procedures and business ethics codes.
• Completes required regulatory training as assigned.
• Maintain strict adherence and compliance to all laws, rules, regulations and internal controls specific to your role, including but not limited to Bank Secrecy Act, Anti-Money Laundering, USA Patriot Act, OFAC and Fair Lending regulations.

 

Knowledge/Skills/Abilities    

Knowledge

• Advanced knowledge of current mortgage lending laws and regulations for Fannie Mae, FHA, VA, USDA
• Thorough knowledge of all aspects of the federal and state regulations dealing with Home Equity lending
• Advanced knowledge of the mortgage process, documentation, requirements, and terminology
• Proficient in use of computers and MS Office software suite (e.g., Outlook, Word, Excel)

 

Skills

• Excellent analytic skills, attention to detail, and ability to work within time constraints

• Excellent interpersonal, written and verbal communication skills

 

Abilities

• Demonstrated ability