Apple Federal Credit Union
Licensed Mortgage Loan Processor
Apple Federal Credit Union, Fairfax, Virginia, United States, 22032
Overview
Mortgage Loan Processor position in Fairfax, VA. Under general supervision, but following established policies and procedures, is responsible for originating and processing fixed rate home equity loans, home equity lines of credit, and fixed rate, conforming and non-conforming first trust mortgage loan applications. Performs related file maintenance. Coordinates processing, closing and disbursement of mortgage loans. Works closely with Branch Staff, Mortgage Processor/Underwriter, Mortgage Servicer, Home Equity Processor/Underwriter, and Credit Committee. Adheres to credit union policies and procedures and relevant regulations. Essential Functions & Responsibilities
Process home equity loan and line of credit mortgage applications and fixed rate, conforming and non-conforming first trust mortgage loan applications originated through MortgageBot by members of Apple Federal Credit Union and Apple FCU Mortgage Loan Originators. Include verification of income, employment, assets, down payments, debts and property values to calculate debt-to-income ratios and loan-to-value. Review credit reports, appraisals, preliminary title reports and all other required documentation. Resolve title issues, appraisal issues, and ensure collateral meets product and policy requirements. Manage subordination agreements. Ensure applications are complete and disclosures are issued within compliance timelines. Submit loans through Freddie Mac Loan Prospector automated underwriting or to Apple FCU underwriters. Order private mortgage insurance, appraisal, HVE/AVM, final inspections, title commitments, flood certification, VOE, VOM and all other required documentation. Maintain accurate data in the loan origination system and HMDA data on all files. Maintain tracking reports for weekly review of the Home Equity pipeline to ensure timely processing. Consult with members/originators to determine the correct mortgage product in the member’s best interest, qualifying as a Mortgage Loan Originator (MLO) under the SAFE Act. Maintain professional relationships with members and vendors to ensure timely processing. Coordinate with AFCU Home Advisor Agents for timely processing of Home Advisor purchase loans. Review loans per Apple FCU, FHLMC and NCUA guidelines; preliminarily approve loans according to Freddie Mac Loan Prospector findings; ensure all requirements are met per product guidelines and regulatory standards. Review calculations of debt and LTV, credit reports, appraisals, budgets, mortgage insurance, title commitments, surveys, inspections and all other required documents. Prepare files for submission to the Mortgage Underwriter for preliminary/final approval. Obtain all conditions from members, Realtors, Title Companies, Attorneys, private mortgage insurance, or other sources. Coordinate and prepare pre-closing documentation. Work with realtors, title companies and attorneys during closing; perform file maintenance and assist Mortgage Servicing Specialist with servicing file setup as needed. Provide back-up support for other processors as needed. Assist and train staff on mortgage loan origination and processing; review policies and procedures and suggest improvements. Knowledge And Skills
Experience:
Minimum three years mortgage processing experience. Previous credit training required. Knowledge of mortgage loan products and features. Education:
HS degree or equivalent. Obtain and maintain a valid NMLS license number as required by the SAFE Act. Interpersonal Skills:
Excellent interpersonal skills. Other Skills:
Analytical ability to conduct preliminary analysis of an applicant’s financial condition; strong attention to detail; excellent written and telephone skills. Proficiency with MS Windows, MS Office Suite and mortgage LOS software. Physical Requirements:
Ability to use standard office equipment (PC, fax, copier, telephone, etc.). Work Environment:
Ability to function in a financial institution environment. Schedule:
Hybrid Location:
Fairfax, VA Apple Federal Credit Union values, encourages, and implements diversity in the workplace. As an equal opportunity employer, Apple Federal Credit Union does not discriminate in employment with regard to race, color, religion, national origin, citizenship status, ancestry, age, sex (including sexual harassment), sexual orientation, marital status, physical or mental disability, military status or unfavorable discharge from military service or any other characteristic protected by law. All selected candidates will be subject to credit and background checks to determine employment eligibility. Seniority level
Mid-Senior level Employment type
Full-time Job function
Finance and Sales Industries Banking
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Mortgage Loan Processor position in Fairfax, VA. Under general supervision, but following established policies and procedures, is responsible for originating and processing fixed rate home equity loans, home equity lines of credit, and fixed rate, conforming and non-conforming first trust mortgage loan applications. Performs related file maintenance. Coordinates processing, closing and disbursement of mortgage loans. Works closely with Branch Staff, Mortgage Processor/Underwriter, Mortgage Servicer, Home Equity Processor/Underwriter, and Credit Committee. Adheres to credit union policies and procedures and relevant regulations. Essential Functions & Responsibilities
Process home equity loan and line of credit mortgage applications and fixed rate, conforming and non-conforming first trust mortgage loan applications originated through MortgageBot by members of Apple Federal Credit Union and Apple FCU Mortgage Loan Originators. Include verification of income, employment, assets, down payments, debts and property values to calculate debt-to-income ratios and loan-to-value. Review credit reports, appraisals, preliminary title reports and all other required documentation. Resolve title issues, appraisal issues, and ensure collateral meets product and policy requirements. Manage subordination agreements. Ensure applications are complete and disclosures are issued within compliance timelines. Submit loans through Freddie Mac Loan Prospector automated underwriting or to Apple FCU underwriters. Order private mortgage insurance, appraisal, HVE/AVM, final inspections, title commitments, flood certification, VOE, VOM and all other required documentation. Maintain accurate data in the loan origination system and HMDA data on all files. Maintain tracking reports for weekly review of the Home Equity pipeline to ensure timely processing. Consult with members/originators to determine the correct mortgage product in the member’s best interest, qualifying as a Mortgage Loan Originator (MLO) under the SAFE Act. Maintain professional relationships with members and vendors to ensure timely processing. Coordinate with AFCU Home Advisor Agents for timely processing of Home Advisor purchase loans. Review loans per Apple FCU, FHLMC and NCUA guidelines; preliminarily approve loans according to Freddie Mac Loan Prospector findings; ensure all requirements are met per product guidelines and regulatory standards. Review calculations of debt and LTV, credit reports, appraisals, budgets, mortgage insurance, title commitments, surveys, inspections and all other required documents. Prepare files for submission to the Mortgage Underwriter for preliminary/final approval. Obtain all conditions from members, Realtors, Title Companies, Attorneys, private mortgage insurance, or other sources. Coordinate and prepare pre-closing documentation. Work with realtors, title companies and attorneys during closing; perform file maintenance and assist Mortgage Servicing Specialist with servicing file setup as needed. Provide back-up support for other processors as needed. Assist and train staff on mortgage loan origination and processing; review policies and procedures and suggest improvements. Knowledge And Skills
Experience:
Minimum three years mortgage processing experience. Previous credit training required. Knowledge of mortgage loan products and features. Education:
HS degree or equivalent. Obtain and maintain a valid NMLS license number as required by the SAFE Act. Interpersonal Skills:
Excellent interpersonal skills. Other Skills:
Analytical ability to conduct preliminary analysis of an applicant’s financial condition; strong attention to detail; excellent written and telephone skills. Proficiency with MS Windows, MS Office Suite and mortgage LOS software. Physical Requirements:
Ability to use standard office equipment (PC, fax, copier, telephone, etc.). Work Environment:
Ability to function in a financial institution environment. Schedule:
Hybrid Location:
Fairfax, VA Apple Federal Credit Union values, encourages, and implements diversity in the workplace. As an equal opportunity employer, Apple Federal Credit Union does not discriminate in employment with regard to race, color, religion, national origin, citizenship status, ancestry, age, sex (including sexual harassment), sexual orientation, marital status, physical or mental disability, military status or unfavorable discharge from military service or any other characteristic protected by law. All selected candidates will be subject to credit and background checks to determine employment eligibility. Seniority level
Mid-Senior level Employment type
Full-time Job function
Finance and Sales Industries Banking
#J-18808-Ljbffr