Mortgage Processor

EastRise Credit Union; South Burlington (VT); On-site; USD 55,000 - 75,000; Full time

Job summary

EastRise Credit Union is seeking a Mortgage Processor to efficiently handle a mortgage pipeline in line with guidelines and credit union policies. You will meet deadlines while keeping members satisfied and coordinating with the Mortgage Team to ensure accuracy and smooth closings.

Responsibilities include communicating with borrowers from conditional approval to closing, collecting and verifying documents, and ensuring TRID compliance while tracking key dates and timelines.

Qualifications

• One year of similar or related experience.
• High school diploma or equivalent; NMLS registration required.

Responsibilities

• Process mortgage applications efficiently per guidelines and deadlines.
• Maintain clear communication with borrowers from conditional approval to closing.
• Track pipeline dates, rate locks, appraisals and closing timelines.
• Collect and verify income, assets, and appraisal docs; update origination software.
• Explain loan qualifications, parameters, contingencies, costs and closing coordination.
• Issue required loan documents and notices within regulatory timeframes; coordinate third parties.
• Collaborate with attorneys, title companies, realtors, and vendors as needed.
• Comply with BSA, Patriot Act, OFAC and internal policies.

Skills

Mortgage processing

Customer service

Attention to detail

Communication

Time management

Education

High school diploma

NMLS licensing

Tools

Origination software

Job description

Role

The Mortgage Processor efficiently and accurately processes a mortgage pipeline, in accordance with mortgage and credit union guidelines, while meeting various deadlines and maintaining member satisfaction.

Major Duties And Responsibilities

• 20% Exhibits deep problem-solving and decision-making skills. Relies on various underwriting guideline resources and/or mortgage department manuals, as needed. Has awareness of when to brainstorm with fellow mortgage team members and/or third parties to resolve issues. Maintains knowledge of EastRise mortgage loan programs, secondary market guidelines, underwriting guidelines, and EastRise products and services.
• 20% Maintain constant communication with borrowers via phone, email and mail from conditional approval to closing. Ensures borrower satisfaction through efficient and accurate processing of the loan, timely responses and by properly setting and delivering on expectations. Works in conjunction with the Mortgage Team to achieve maximum efficiency and best practices. Incorporates Member Relationship Development (MRD) into their daily practices.
• 15% Exhibits attention to detail, organization, interpersonal and listening skills and has a strong customer service expertise. Tracks assigned mortgage pipeline to efficiently manage rate lock expiration dates, appraisal turn times, finance contingency dates, TRID compliance dates, and projected closing dates. Works overtime as needed to effectively manage the pipeline.
• 15% Collects supporting loan documentation and evaluates income documentation, asset documentation, and appraisal reports to ensure they meet underwriting guidelines. Upload all documentation and update all information in the mortgage origination software with accuracy.
• 15% Ability to explain and coordinate the loan qualification process, loan parameters, conditions required, alternatives available, deadlines to be met, the appraisal report and value, closing costs, cash due at closing, and the coordination of the loan closing via phone and email. Ability to explain complex scenarios and options via email, in an appropriate manner and tone, without grammatical or spelling errors.
• 10% Issues Commitment Letters, Stop-the-Clock Letters, Adverse Action Notices, Loan Estimates, Closing Disclosures and Appraisal reports to borrowers within required regulatory timeframes. Restructure loan programs and loan parameters within underwriting and compliance guidelines. Orders credit reports, appraisals, title work and title commitments electronically. Prepare and submit verification forms for income, deposits and rent via phone, email, fax and mail. Provides coverage to other Mortgage Processors, on all items referenced above, as needed.
• 5% Communicate effectively and maintain good working relationships with attorneys, title companies, realtors, appraisers, builders and other third-party vendors.

Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.

Knowledge And Skills Experience

One year of similar or related experience, including preparatory experience.

Education/Certifications/Licenses

A high school diploma or equivalent. Must maintain active/current registration with the National Mortgage Licensing System (NMLS) throughout employment.

Interpersonal Skills

A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of sensitive and/or highly confidential nature. Communication may involve motivating, influencing, educating, and/or advising others on matters of significance. Typically, it includes subject matter experts as well as first to middle level managers.

Other Skills

COMPETENCIES: Must be at least 18 years of age. Favorable Background, Credit, Criminal, Bondability, and Reference Checks required. (Motor Vehicle check depending on position.) Travel to other branches or locations may be required depending on position. Knowledge of State and Federal regulations affecting consumer loans. Knowledge of consumer loan policies, procedures, products, and services.

ADA Requirements

Physical Requirements

Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 5 lbs. Must be capable of climbing / descending stairs in emergency situation. Must be able to operate routine office equipment including CRTs, typewriters, telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours whenever required or requested by management. Must be capable of regular, reliable and timely attendance.

Working Conditions

Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.

Mental And/or Emotional Requirements

Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.