Loan Processor Home Equity Lending

West Jordan, Utah, United States
Full-time
Posted

Description

To be effective, an individual must be able to perform each job duty successfully.

  • Shows understanding and application of MACU home equity lending processes, procedures and guidelines, and understanding of appropriate federal and state real estate lending regulations and how they apply to MACU’s processor role.
  • Works with Member Service Agents to ensure home equity loan applications are complete and accurate.
  • Orders all necessary property reports, e.g., tax notice, automated valuation, desktop appraisal, property inspection, flood certificate, title, and evidence of homeowners insurance.
  • Evaluates accuracy and completeness of tax notice, automated valuation, desktop appraisal, property inspection, flood certificate.
  • Works with borrower’s insurance companies to ensure the proper homeowners and flood insurances are accurate and in place, and that MACU is listed as lien holder.
  • Verifies borrower’s employment status in accordance with MACU guidelines and, when necessary, CFPB “Ability to Repay” regulations.
  • Works with borrowers’ other financial institutions to obtain accurate and timely pay-off information for loans that will be paid-off with the proceeds of the home equity loan.
  • Maintains confidentiality of credit union and member information.
  • Confirms each loan file is complete with all required loan documentation and prepared for further analysis and underwriting.
  • Be detail oriented and ensure the processing quality of home equity loans by achieving documentation accuracy, goals and standards.
  • Maintain quality turn times and self-management of workload/pipeline to hit strict deadlines and production standards.
  • Participate in ongoing training of home equity products.
  • Builds and maintains a cooperative working relationship with other home equity lending team members as well as vendors and branch/member service personnel.
  • Performs other duties as assigned.

KNOWLEDGE, SKILLS, & ABILITIES: The requirements listed are representative of the knowledge, skills, and/or abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential job functions.


EXPERIENCE:
Minimum 1 year experience in a financial setting required


EDUCATION:
Requires High School Diploma or equivalent


LICENSES, CERTIFICATIONS, REGISTRATIONS:
Must be able to qualify annually as a Mortgage Loan Originator under S.A.F.E Act Registration post hire.


MANAGERIAL RESPONSIBILITY:
Has no supervisory/managerial responsibilities.

OTHER SKILLS & ABILITIES:

  • Ability to work both autonomously and collaboratively in a fast-paced environment.
  • Self-starter with strong attention to detail, organizing and time management skills and the ability to work productively and efficiently with multiple projects and timelines.
  • Adaptive to change, responds positively to altered circumstances or conditions
  • Possess a desire and willingness to learn and continually update knowledge base on financial concepts, strategies, systems etc.
  • Take initiative to be a problem solver and provide suggestions to improve processes and efficiencies.
  • Excellent inter-personal and communication skills.
  • Intermediate skills with Microsoft Office Suite including Outlook, Word, and Excel.
  • Experience with Encompass or other financial lending software preferred.
  • Demonstrated ability to clearly express ideas, methodology, results and recommendations verbally, in writing and through insightful reports and graphic illustrations
  • Demonstrated ability to document outcomes and present information in a manner appropriate for key stakeholders and all levels of the organization.

PHYSICAL ABILITIES / WORKING CONDITIONS:

  • Ability to talk, hear, sit, use hands to handle or feel and reach with hands and arms consistently.
  • Close vision (clear vision at 20 inches or less)
  • Distance Vision (clear vision at 20 feet or more)
  • Ability to lift up to 10 pounds consistently and up to 50 pounds occasionally

ENVIRONMENTAL: There are no unusual environmental factors. Work is conducted in typical office setting with moderate noise (e.g., business office with computers and printers, light traffic).

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