Mortgage Loan Processor

Partners In Recovery LLC; South Bend (IN); On-site; USD 55,000 - 75,000; Full time

Job summary

Notre Dame Federal Credit Union is seeking a Mortgage Loan Processor to support the origination process for mortgage loans, ensuring timely and accurate processing of applications and related documents.

The role requires knowledge of mortgage lending regulations, strong attention to detail, and the ability to coordinate with loan officers and members. Experience with secondary market guidelines and NMLS registration eligibility is preferred.

Qualifications

• Two (2) years’ mortgage loan processing experience in a financial institution.
• Advanced understanding of mortgage lending processes and regulations.
• Secondary market experience with Fannie Mae or Freddie Mac preferred.
• Eligible for NMLS registration.

Responsibilities

• Process mortgage loan applications and supporting documents.
• Input loan information into mortgage system for processing.
• Order third party verifications and services.
• Provide information to members about mortgage products and services.
• Perform loan funding and post-closing activities as needed.

Skills

Mortgage lending knowledge

Regulatory compliance

Effective communication

NMLS readiness

English proficiency

Education

College degree preferred

NMLS registration eligibility

Tools

Encompass

Job description

• Employee Type Full Time Nonexempt

Contact information

• Name Human Resources

Description

PRIMARY FUNCTION:

To perform all duties as required meeting the financial needs of the membership of the Notre Dame Federal Credit Union as it applies to origination process including processing mortgage loans. As authorized, and in accordance with sound interviewing practices as set out in policy and procedures, ensures borrower’s applications for credit or extension of credit secured by real estate property are processed in a prompt manner.

ESSENTIAL DUTIES & RESPONSIBILITIES:

This position must effectively carry out the essential duties of this position in a manner that consistently demonstrates the core values of Notre Dame Federal Credit Union in a positive manner. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The duties identified below are the essential functions of the position:

• PRIMARILY PERFORMS PROCESSING FUNCTIONS:
  • Supports the mortgage loan originators by processing applications and all supporting documents in a timely and accurate manner.
  • Inputs proper loan information into mortgage system for processing.
  • Provides information to members about mortgage loan services and products and helps them gather information to properly make timely and complete application.
  • Orders third party verifications/services necessary to review mortgage applications.
• Maintains high accuracy and low error rates on documentation related to lending activities.
• Prepares and reviews all loan documents necessary to extend mortgage credit to members.
• Reviews file documentation to ensure all items needed are requested, orders and coordinates loan documentation, and meets crucial deadlines.
• Performs loan funding and other post-closing activities in accordance with departmental procedures.
• Maintains a strong working knowledge of secondary market requirements as they apply to the origination and processing of real estate lending. Processes mortgage closing documents and, when necessary, performs the loan closing function.
• Maintains high accuracy and low error rates on documentation related to lending activities.
• Follows all Federal and State regulations applicable to the lending activities at Notre Dame Federal Credit Union.
• Becomes familiar with the operation of various other Credit Union departments.
• Performs other duties and projects as assigned.

SUPERVISORY RESPONSIBILITIES:

No requirement.

PERFORMANCE STANDARDS:

To perform this job successfully individuals must be accurate in the documentation, from application taking to closing documentation and following established policies, practices, and procedures for lending. In addition, such persons must be able to process loans in a timely manner and perform each essential duty satisfactorily.

Requirements

QUALIFICATION REQUIREMENTS:

The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION AND/OR EXPERIENCE:

• College degree preferred, however, an extensive financial institution background may be substituted.
• Must have a minimum of two (2) years’ experience in the processing of mortgage loans at a financial institution with additional experience in underwriting beneficial.
• Advanced understanding of mortgage lending processes including proper documentation and appropriate regulations necessary.
• Secondary market experience, either with Fannie Mae or Freddie Mac, preferred.
• Qualified persons must be eligible for registration with the NMLS.

LANGUAGE SKILLS:

Qualified individuals must be able to read and interpret documents such as credit bureau reports, debt to income ratio reports, policy and procedure manuals. The ability to write routine reports and correspondence is required, along with the ability to speak effectively with borrowers and other partners of the organization.

MATHEMATICAL SKILLS:

This position requires the ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. In addition, this person must be able to compute rates, ratios and percents and to draw and interpret bar graphs.

REASONING ABILITY:

Individuals must be able to solve practical problems and deal with a variety of concrete variables in situations where a considerable amount of standardization exists. Ability to interpret a variety of instructions furnished in written form, including but not limited to Loan Policy and Procedural Manuals, Regulation Z, The Fair Credit Reporting Act, and Mortgage Lending regulations is required.

OTHER SKILLS & ABILITIES:

• Thorough knowledge of federal and state regulations affecting mortgage lending.
• Computer proficiency/keyboard skills and knowledge of mortgage lending software (Encompass exposure a plus).

PHYSICAL DEMANDS:

The physical demands described here are representative of those that must be met by a partner to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the partner is regularly required to use hands to finger, handle or feel objects, tools, or controls and talk and hear. The partner frequently is required to walk and sit. The partner is occasionally required to stand, reach with hands and arms and stoop, kneel, crouch or crawl. Specific vision abilities required by this job include close vision, peripheral vision, and the ability to adjust focus. The partner must occasionally lift and/or move up to 15 pounds.

MENTAL DEMANDS:

The partner is frequently required to use alertness, precision, resourcefulness, problem solving, numeric, persuasiveness, auditory perception, memory, creativity, concentration, judgment, writing ability, reading ability, reasoning, imagination, initiative, patience, visual perception, comparing and analyzing.

WORK ENVIRONMENT:

The work environment characteristics described here are representative of those a partner encounters while performing the essential functions of this job. The noise level in the work environment is usually quiet to moderate.

REGULATORY COMPLIANCE & CONFIDENTIALITY:

Follows regulatory and policy compliance requirements, which would include those efforts in compliance with Bank Secrecy Act (BSA), Office of Foreign Asset Control (OFAC) and Anti-Money Laundering (AML) Regulations, and other compliance related Policies. Also, this position requires maintaining confidentiality with regard to non-public information about our members and Notre Dame Federal Credit Union.

Summary

Notre Dame Federal Credit Union humbly began in 1941 as a conversation between two professors from the University of Notre Dame. Now, over 75 years later, we have grown into a national, award-winning financial institution serving over 56,000 members worldwide. We consider our partners (employees) to be one of our greatest assets to this success. We strive to make great things happen for our members and partners by changing one life every day. If you share that same passion for making an impact on someone’s life, you should apply to join the Notre Dame FCU family.