Mortgage Operations Specialist II

Raiz Federal Credit Union; El Paso (TX); On-site; USD 27,000 - 41,000; Full time

Job summary

Raiz FCU is seeking a Mortgage Operations professional in El Paso, TX to educate and assist members, acting as a trusted mentor throughout the loan process. You will guide and support the team and members, ensuring accurate processing and compliance with TRID and credit union policies.

The position reports to the Mortgage Operations Manager, requires strong communication, multi-tasking, and a customer-focused approach to close loans efficiently and maintain regulatory standards.

Qualifications

• Education – High school or equivalent. College degree preferred.
• Minimum 3 years of processing experience or certifications, and or technical skills in residential mortgage lending
• Bilingual and previous credit union experience is a plus but not a requirement
• Work experience should consist of loan processing, loan closing, and loan funding, reading title work, loan estimates, closing disclosures and appraisal reports
• Demonstrated leadership and interpersonal abilities
• Must have good communication and interpersonal skills
• Critical thinking, problem-solving skills
• Detail-oriented, and ability to multi-task
• Proficient in Microsoft Office and web-based applications
• Examine all loan applications and disclosures for discrepancies and ascertain all the information is true and consistent with credit union policies and guidelines
• Understanding of financial industry concepts, related laws, and regulations
• meet regulatory and compliance guidelines
• Review and analyze borrower documentation to determine income, repayment capacity for self-employed borrowers. Perform due diligence to identify possible fraudulent activity

Responsibilities

• Requires a high level of organizational skills, excellent communication skills, a thorough understanding of Credit Union lending programs, policies, procedures, and professionalism.
• Ability to Multi task, process, audit and maintenance all closed mortgage loan files.
• Communicate with Loan Officers and members to ensure member needs are met, provide them with overview of the process and inform the Loan Officer of information necessary to process loan.
• Strong understanding of various mortgage documents such as Uniform Residential Loan Application (URLA), Underwriter Transmittal Summary, Loan Product Advisor (LPA), Desktop Underwriter (DU); Ability to read and interpret such documents.
• Welcome call and welcome letter to the borrower within 24 hours of file being assigned.
• Insure initial Loan Estimate is complete and accurate and follow compliance guidelines. This includes review of change of circumstance, redisclosures, and updated lock rate form pursuant to TILA RESPA Integrated Disclosure (TRID).
• Ability to read and interpret purchase agreements, draw schedules, surveys, tax returns, pay stubs, assets, retirement accounts and Mortgage Insurance.
• Review credit report as needed to address any inconsistencies identified in the Desktop Underwriter findings and meet credit union guidelines.
• Verify address through USPS look up, verify businesses, and employers thru Bing and or other internet providers.
• Retrieve Soft pulls, Tax transcripts, and Authorization for the Social Security Administration (SSA-89) verifications through third party vendor.
• Review Appraisal report for inaccuracies such as gross adjustments based on comparables, property repairs, foundation damage, property value, etc., and request Scorecard.
• Conduct follow up with outside sources for outstanding documentation to ensure receipt within turn-around time standards.
• Manage pipeline to reflect accurate closing dates, pursuant to lock expiration, estimated close date, and appraisal due date.
• Review title report/commitment prior to ensure all matters have been cleared and easements are within the investor guidelines before submitting to Underwriter.
• Complete a final evaluation and analysis of the completed loan file to include all compliance alerts and either upload all documentation and conditions with updated AUS and send file for underwriting approval.
• Assist the mortgage loan closer to prepare closing instructions, finalize closing disclosures and request legal documents from attorneys.
• Ability to assist the mortgage loan closer on the funding functions related to the loan closing.
• Communicate to borrower, closer and mortgage loan originator when closing disclosure is ready for review and meet all lock in expirations dates or process requests for extensions in accordance with Credit Union policy.
• Ensure all incomplete, denied, or withdrawn loans meet regulatory requirements while in processing status.
• Assist with collecting and gathering loan documents for internal and external audits.
• Create, update, read, and interpret the processing procedure manual and training guides.
• Successful in completing courses and/or webinars related to mortgage processing and underwriting.
• Knowledgeable expert who is well diverse on mortgage loan types offered by the credit union (Conventional, Construction, VA, FHA, etc.) A mentor to provide guidance to our members, team members, and building trust. Demonstrate the ability to give sound advice considering our members’ best interests. Knowledge of Credit Union products and services are a plus.
• A natural communicator who picks up on member’s concerns- and expresses things in a way they can relate to – and who helps them understand complex or intimidating topics, so they feel more knowledgeable.
• Comply and attend annual Bank Secrecy Act (BSA), Customer Identification Program (CIP) training in addition to compliance training.
• Follow TILA/ RESPA, ECOA, FNMA, FHMC, and FHLB processes and guidelines to ensure quality assurance as well other regulation laws. An understanding of real estate terminology, mortgage lending practices, and mortgage loan requirements (Conventional, ARM, FHA, VA, USDA, etc.)
• All other duties as assigned or identified.

Skills

Processing experience

Bilingual

Communication skills

Leadership abilities

Analytical thinking

Detail oriented

Microsoft Office

Education

High school or equivalent

College degree preferred

Tools

Microsoft Office

Loan processing software

Job description

Raiz FCU is seeking a Mortgage Operations professional in El Paso, TX to educate and assist members, acting as a trusted mentor throughout the loan process. You will guide and support the team and members, ensuring accurate processing and compliance with TRID and credit union policies.

The position reports to the Mortgage Operations Manager, requires strong communication, multi-tasking, and a customer-focused approach to close loans efficiently and maintain regulatory standards.