Real Estate Lending (Mortgage) Processor II

Michigan-Schools-; Troy (MI); On-site; USD 27,000 - 39,000; Full time

Benefits offered by this job

Healthcare benefits on day one

401(k) matching

Paid holidays

Paid time off (PTO)

Discounts on loans and services

Job summary

Michigan Schools & Government Credit Union (MSGCU) in Michigan is seeking a dedicated real estate loan processor to join our team. You will review applications, verify asset and income documents, and coordinate with underwriting to move loans toward closing.

Base pay starts at $24/hour with full benefits from day one, including medical, dental and vision. MSGCU provides a 401(k) match, 12 paid holidays, and generous PTO, along with a supportive, member-focused work culture.

Qualifications

• High school diploma or GED; 2 years mortgage processing or 3 years real estate lending experience.
• FHA lending experience and Encompass experience preferred.

Responsibilities

• Review and process loan applications for accuracy and completeness.
• Verify asset documentation, income verification, property valuation, and credit reports.
• Prepare disclosures in compliance with TILA and TRID.
• Coordinate with underwriting and closing teams to resolve conditions.
• Schedule closings with members, title companies, and realtors.
• Maintain accurate loan notes and communicate loan status to members.

Skills

Member Focus

Action Oriented

Communicates Effectively

Instills Trust

Self-Development

Interdepartmental Communication

Education

High school diploma or GED

Tools

Encompass

Job description

Founded by a small group of educators, Michigan Schools & Government Credit Union (MSGCU) has been providing quality financial services to the community for more 70 years and welcomes everyone in Michigan to bank with us. We are financial champions committed to helping our members achieve financial success by rallying behind them and their goals. As the sixth largest Credit Union in Michigan, MSGCU has 24 branch offices in south east Michigan, over 450 team members, 150,000 members, $4 billion in assets, and a 97% member satisfaction rating for two decades.

If you have a passion for helping people and providing exceptional and dependable service, we want you on our team!

Information about our comprehensive total rewards package can be found here.

Overview of Responsibilities:

Performs a broad range of real estate processing activities, including receiving, evaluating, and reviewing loan applications. Obtains and verifies necessary information, prepares documents for underwriting and closing review, and communicates loan status to all involved parties.

• Review and Process Applications: Verifies loan applications for accuracy, completeness, and compliance. Ensures all necessary documents (asset documentation, income verification, property valuation, and credit reports) are submitted.
• Documentation Requirements: reviews third-party documents including title reports, appraisals, purchase agreements, condo documents, surveys, flood certifications, and homeowners insurance. Follows up with vendors and members to ensure documents are obtained and reviewed in a timely manner.
• Ensure Regulatory Compliance: Prepares member specific disclosures in compliance with federal laws and regulations, including Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (TRID). Maintains accurate records for Home Mortgage Disclosure Act (HMDA) reporting and ensures all documentation meets regulatory requirements.
• Coordination with Underwriting and Closing: Submits applications to underwriting and coordinates with consultants to ensure conditions are resolved. Schedules and coordinates closings with members, title companies, and realtor after receiving final approval.
• Interdepartmental Communication and Collaboration: Serves as a point of contact for members, team members, and vendors throughout the loan process. Manages a pipeline of home equity and mortgage loans to ensure timely progression and a seamless member experience. Maintains accurate, up-to-date notes within loan files to ensure effective communication and keep members informed of their loan status throughout the process.

Core Competencies:

• Member Focus: Uses effective listening skills to gain insight into the needs of members in order to ensure an efficient real estate lending experience.
• Action Oriented: Takes on new opportunities and tough challenges with a sense of urgency and enthusiasm. Possesses strong organizational skills and the ability to prioritize multiple responsibilities simultaneously in a fast-paced environment.
• Communicates Effectively: Effectively communicates the real estate loan process to audiences with different needs and abilities.
• Instills Trust: Builds relationships and gains the confidence of others by modeling honesty, integrity, authenticity, and behaviors that align with organizational values. Exemplifies courage by stepping up to address difficult issues.
• Self-Development: Actively seeks new ways to grow and be challenged using formal and informal development channels.

Education and Experience Requirements:

• High school diploma or GED; and
  Either:
  o 2 years of mortgage processing experience; or
  o 3 years of relevant real estate lending experience.
• Federal Housing Administration (FHA) lending experience and Encompass experience preferred.

Working Conditions:

• Office and branch location environment with little discomfort from noise, extreme temperature, dust, or other factors.
• Occasionally required to travel throughout MSGCU's service area as business needs require.
• Exposed to potentially hazardous conditions, such as robbery. Receives detailed instructions and security procedures on an annual basis to minimize risk.
• This work involves sitting most of the time with brief periods of walking or standing and may occasionally require lifting and/or moving up to 10 pounds.

Compensation and Benefits:

Competitive salaries are just the starting point for MSGCU team members. We also champion our team members with generous vacation time, retirement plan contributions and discounts on loans and phone service also come with the job.

• Base hourly pay begins at $24/hour
• Medical, dental and vision on your first day! You can choose the most generous Health Savings Account (HSA)-eligible medical plan with no monthly premium for you (and your family)
• If you are at least 21 years old, you will receive a 3% contribution from MSGCU, and a 100% match for the next 7% you contribute to your 401(k)
• You will enjoy 12 paid holidays and up to 120 hours of PTO your first year of service (pro-rated based on start date)