Island Federal Credit Union
Residential Loan Processor
Island Federal Credit Union, Hauppauge, New York, United States, 11788
JOB DESCRIPTION
Residential Loan Processor
SUMMARY:
Responsible for processing First Mortgage loans in compliance with all Credit Union, investor (ex: Fannie Mae), and regulatory policies, procedures, and guidelines.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Processing and document preparation of First Mortgages. Efficiently utilize systems such as BytePro, FICS, Desktop Underwriter, and other relevant software to support servicing operations. Collect, verify, and analyze required documentation such as income, assets, credit reports, title searches, appraisals and insurance. Order and track third-party services (appraisals, title, flood certifications, verifications of employment/assets, etc.). Coordinate with Members, Team Members, and/or third parties, such as attorney's and title companies, to ensure timely loan closings and accurate preparation of closing documents. Ensure strict adherence to Credit Union, investor, and regulatory policies, procedures, and guidelines. Monitor loan files and borrower information for inconsistencies or red flags, actively identifying, reporting, and mitigating potential fraud in accordance with regulatory and internal guidelines. Monitor and meet all Departmental performance reporting and service goals. Interact with all necessary third-party vendors, Members, and Team Members. Provide data and reporting required to meet HMDA reporting requirements. Propose Lending Policy and procedural changes to the Team Lead and Centralized Lending Manager as required to enhance operational efficiencies and productivity or to meet regulatory or compliance mandates. Assist in resolving Member questions regarding the mortgage process in a clear, professional, and supportive manner. Cross-sell credit union products and services, including deposit accounts and loan products, to meet Members' financial needs and enhance their overall financial well-being. Work at various branch locations as required. Other duties as assigned. REQUIREMENTS:
Associate degree preferred or a combination of education and experience. 3-5 years working in a financial institution, preferably in a Credit Union setting. NMLS COMPENTENCIES :
Knowledge of consumer and real estate underwriting practices Knowledge of Island's products and services Excellent written and oral communication skills
Excellent organizational skills Ability to prioritize, pay close attention to detail, and coordinate various activities simultaneously. Ability to communicate with co-workers, management, and business contacts in a courteous and professional manner.
Residential Loan Processor
SUMMARY:
Responsible for processing First Mortgage loans in compliance with all Credit Union, investor (ex: Fannie Mae), and regulatory policies, procedures, and guidelines.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Processing and document preparation of First Mortgages. Efficiently utilize systems such as BytePro, FICS, Desktop Underwriter, and other relevant software to support servicing operations. Collect, verify, and analyze required documentation such as income, assets, credit reports, title searches, appraisals and insurance. Order and track third-party services (appraisals, title, flood certifications, verifications of employment/assets, etc.). Coordinate with Members, Team Members, and/or third parties, such as attorney's and title companies, to ensure timely loan closings and accurate preparation of closing documents. Ensure strict adherence to Credit Union, investor, and regulatory policies, procedures, and guidelines. Monitor loan files and borrower information for inconsistencies or red flags, actively identifying, reporting, and mitigating potential fraud in accordance with regulatory and internal guidelines. Monitor and meet all Departmental performance reporting and service goals. Interact with all necessary third-party vendors, Members, and Team Members. Provide data and reporting required to meet HMDA reporting requirements. Propose Lending Policy and procedural changes to the Team Lead and Centralized Lending Manager as required to enhance operational efficiencies and productivity or to meet regulatory or compliance mandates. Assist in resolving Member questions regarding the mortgage process in a clear, professional, and supportive manner. Cross-sell credit union products and services, including deposit accounts and loan products, to meet Members' financial needs and enhance their overall financial well-being. Work at various branch locations as required. Other duties as assigned. REQUIREMENTS:
Associate degree preferred or a combination of education and experience. 3-5 years working in a financial institution, preferably in a Credit Union setting. NMLS COMPENTENCIES :
Knowledge of consumer and real estate underwriting practices Knowledge of Island's products and services Excellent written and oral communication skills
Excellent organizational skills Ability to prioritize, pay close attention to detail, and coordinate various activities simultaneously. Ability to communicate with co-workers, management, and business contacts in a courteous and professional manner.