Tower Federal Credit Union
Home Equity Loan Processor
Tower Federal Credit Union, Laurel, Maryland, United States, 20724
Home Equity Loan Processor
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Tower Federal Credit Union
Overview The Home Equity Loan Processor (HELP) is responsible for processing home equity loans by ordering, obtaining and analyzing documentation required to move loans from application to closing as efficiently and timely as possible. The HELP communicates with internal and external parties to ensure accurate information exchange and timely closings in their loan pipeline.
Key Details
Hours: Monday – Friday, 8:00am – 4:30pm
Hiring Range: $28.42/hr – $35.52/hr
Typical sign-on incentives may apply per current policy
Responsibilities
Process home equity loans from application to Close, ensuring all requirements are met and regulatory guidelines are followed (CFPB, Dodd-Frank ATR/QM, investor overlays).
Order and collect documentation required to complete loan files and submit them to underwriting in a timely, accurate manner.
Verify and analyze documents (credit report, pay stubs, tax returns, bank statements, appraisals, AUS findings, etc.) to ensure adherence to guidelines and overlays.
Update the LOS with accurate data and resubmit as needed for review and decisioning.
Prepare and deliver the Loan Estimate (LE) and Closing Disclosure (CD) in compliance with CFPB, RESPA, and Reg Z; communicate requirements to members.
Document Changes in Circumstance (COC) for fee updates; ensure regulatory compliance.
Maintain regular contact with Loan Advisors, Underwriters, members, real estate agents, title companies, appraisers, and other stakeholders to support timing and closing goals.
Price loans, review product variations, and confirm loan data in the LOS.
Assess income, assets, debt-to-income, and loan-to-value; ensure alignment with all guidelines and overlays.
Thoroughly evaluate appraisals and collateral; confirm compliance with internal and investor requirements (USPAP, MI, etc.).
Monitor loan pipeline to meet rate locks, contingencies, settlement dates and service levels.
Collaborate with Real Estate Lending Team and maintain knowledge of TFCU and MI guidelines.
Perform related duties as assigned.
Qualifications
High school diploma or equivalent;
Three years of experience as a home equity loan processor or mortgage loan processor;
PC proficiency (Word, Excel, Outlook, mortgage origination software);
Thorough knowledge of home equity loan products and required documentation for credit risk and approval decisions;
Knowledge of real estate lending practices, regulatory requirements, and guidelines (Tower FCU and MI);
Successful registration with the Nationwide Mortgage Licensing System and Registry (SAFE Act).
Knowledge, Skills & Abilities
Analytical decision making with strong attention to detail
Ability to learn quickly in a fast-paced environment and multi-task effectively
Strong organizational ability to manage loan files and deadlines
Excellent communication with members and professionals (agents, title companies, etc.)
Ability to work independently, solve problems, and escalate as needed
Ability to interpret and apply lending guidelines and requirements
Commitment to protecting member confidential information and adhering to BSA/USA PATRIOT Act/OFAC
Working Conditions
Hours may extend beyond the defined schedule when operating conditions dictate
Physical ability to lift up to 15 lbs as required
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at
Tower Federal Credit Union
Overview The Home Equity Loan Processor (HELP) is responsible for processing home equity loans by ordering, obtaining and analyzing documentation required to move loans from application to closing as efficiently and timely as possible. The HELP communicates with internal and external parties to ensure accurate information exchange and timely closings in their loan pipeline.
Key Details
Hours: Monday – Friday, 8:00am – 4:30pm
Hiring Range: $28.42/hr – $35.52/hr
Typical sign-on incentives may apply per current policy
Responsibilities
Process home equity loans from application to Close, ensuring all requirements are met and regulatory guidelines are followed (CFPB, Dodd-Frank ATR/QM, investor overlays).
Order and collect documentation required to complete loan files and submit them to underwriting in a timely, accurate manner.
Verify and analyze documents (credit report, pay stubs, tax returns, bank statements, appraisals, AUS findings, etc.) to ensure adherence to guidelines and overlays.
Update the LOS with accurate data and resubmit as needed for review and decisioning.
Prepare and deliver the Loan Estimate (LE) and Closing Disclosure (CD) in compliance with CFPB, RESPA, and Reg Z; communicate requirements to members.
Document Changes in Circumstance (COC) for fee updates; ensure regulatory compliance.
Maintain regular contact with Loan Advisors, Underwriters, members, real estate agents, title companies, appraisers, and other stakeholders to support timing and closing goals.
Price loans, review product variations, and confirm loan data in the LOS.
Assess income, assets, debt-to-income, and loan-to-value; ensure alignment with all guidelines and overlays.
Thoroughly evaluate appraisals and collateral; confirm compliance with internal and investor requirements (USPAP, MI, etc.).
Monitor loan pipeline to meet rate locks, contingencies, settlement dates and service levels.
Collaborate with Real Estate Lending Team and maintain knowledge of TFCU and MI guidelines.
Perform related duties as assigned.
Qualifications
High school diploma or equivalent;
Three years of experience as a home equity loan processor or mortgage loan processor;
PC proficiency (Word, Excel, Outlook, mortgage origination software);
Thorough knowledge of home equity loan products and required documentation for credit risk and approval decisions;
Knowledge of real estate lending practices, regulatory requirements, and guidelines (Tower FCU and MI);
Successful registration with the Nationwide Mortgage Licensing System and Registry (SAFE Act).
Knowledge, Skills & Abilities
Analytical decision making with strong attention to detail
Ability to learn quickly in a fast-paced environment and multi-task effectively
Strong organizational ability to manage loan files and deadlines
Excellent communication with members and professionals (agents, title companies, etc.)
Ability to work independently, solve problems, and escalate as needed
Ability to interpret and apply lending guidelines and requirements
Commitment to protecting member confidential information and adhering to BSA/USA PATRIOT Act/OFAC
Working Conditions
Hours may extend beyond the defined schedule when operating conditions dictate
Physical ability to lift up to 15 lbs as required
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