Mortgage Loan Processor / Junior Underwriter

Description

The Mortgage Loan Processor / Junior Underwriter performs a dual role, managing comprehensive administrative processing duties while simultaneously developing foundational underwriting skills under the guidance of the VP Mortgage Lending and mortgage underwriting staff. This position ensures residential mortgage loan files are fully compiled, verified, and analyzed in conformance with established policies, procedures, and secondary market guidelines. 

Primary Responsibilities:

Performs functions, within scope of authority and expertise, to provide the highest level of service and responsiveness to members served by the Credit Union.

1. Processes real estate loan applications fully utilizing the processing software (LOS) in a timely and professional manner to ensure loans meet contract deadlines and rate lock expiration dates.

2. Compiles, verifies, and reviews all credit, income, asset, and supplemental information used to qualify the prospective borrower. Responsible for keeping the LOS up to date based on documentation received.

3. Responsible for related administrative tasks upon receipt of residential loan applications, including issuing initial loan disclosures and document requests, as well as tracking e-consent. 

4. Processes required third-party orders including verification of employment (VOE), verification of deposit (VOD), flood determination, and tax validation. 

5. Orders and tracks mortgage appraisals to minimize delays. Collects non-refundable fees, uploads critical documents required by the appraiser, and communicates relevant information to all parties as required by Regulation B. 

6. Conducts initial structural reviews of residential mortgage loans to evaluate compliance with Credit Union, conventional, and secondary market standards. 

7. Reviews qualifying factors and applicant documentation to ensure data is correct for approval under automated underwriter findings (DU) and Private Mortgage Insurance (PMI) guidelines.

8. Performs preliminary quality and value reviews on completed appraisals, preparing findings for final underwriting validation. 

9. Monitors the loan pipeline. Tracks critical dates for purchase transactions and monitors rate lock expirations on refinance transactions. 

10. Orders title services from approved closing attorneys utilizing the established rotation schedule. Tracks applications, assigned attorneys, and documents any deviations from the rotation.

11. Works closely with originators and members throughout the workflow to obtain, track, and upload signed disclosures, outstanding loan conditions, and necessary borrower funds and works to obtain and track outstanding loan commitment conditions to successfully meet closing deadlines. 

12. Prepares, documents, and assists in reviewing files flagged for adverse action or counteroffers, collaborating with underwriting staff before finalization. 

13. Reviews purchase transactions to determine if applicants qualify for grant funding, actively training on FHLB grants to master the process. 

14. Keeps up to date on mortgage industry trends, actively attends training on investor/secondary market guidelines, and participates in internal employee mortgage training.

15. Adheres to All One Credit Union policies and procedures. Responsible for compliance with the following regulations: BSA, OFAC, and other regulations as required.

Secondary Responsibilities:

1.  Serves as back-up to the Mortgage Closing Specialist in preparing and sending closing disclosures and loan packages. Quality checks closing documents for accuracy and compliance, and coordinates delivery to closing attorneys or loan officers. 

2.  May assist in the packaging and selling of mortgages on the secondary market, including the assembly of folders and preparation of assignments.

3.  Provides general administrative, clerical, and member support as directed. 

Supervisory Responsibility:

N/A.

Work-Life Balance, Benefits & Compensation:

We understand the importance of work-life balance, and our programs give employees peace of mind. Employees at All One Credit Union are offered a comprehensive, affordable, and competitive benefits package including a rich 401K plan offering 100% of the first 5% 401K Match contribution and 3% 401K Safe Harbor contribution. Please review our full benefits package at all-onecu.com/about/careers/.

This position is eligible to work remotely up to 2 days per week after 3 months of hire in accordance with the Work From Home Policy. 

The salary range for this role is between $24.02 - $36.03. Actual compensation will be determined based on experience and other factors as permitted by law.

Requirements

High School Diploma or equivalent. A minimum of one to three years’ experience in a financial institution is required and experience working in a branch with direct responsibility for member intake of loan applications is a plus! Candidates should have foundational knowledge of mortgage lending regulations and ability to learn CFPB guidelines. Proficiency in Microsoft Office Suite is required. Strong mathematical and analytical skills with the ability to calculate income, analyze asset statements, and review credit reports for risk indicators is required. Exceptional organizational skills, attention to detail, time management with the ability to adapt to changes and meet deadlines, excellent verbal and written communication skills, and proven ability to multitask is required. Must be able to be registered with the Nationwide Mortgage Licensing System (NMLS).

Employees are expected to embody All One Credit Union’s core values in all interactions, fostering partnerships, trust, and community both internally and externally. This commitment supports a culture of inclusion and drives the achievement of All One’s goals. 

All One Credit Union is an Equal Opportunity Employer – Vets/Disabled.