Mortgage Loan Processor or Senior - (Depending on Experience) - Bilingual (Spanish) Preferred at Ent Credit Union in Colorado Springs, Colorado

Job Description:

Company Description

Bilingual English -Spanish speaking candidates preferred

Ent Credit Union exists to improve the financial quality of life of the people we serve. This mission drives us every day, but we are more than our mission. We're also individuals using our unique abilities to make our organization, and the communities we serve, better than they were yesterday. We're a not-for-profit that puts people above profits and actively invests in our community. Our rapidly growing team is expanding our reach to serve more people throughout Colorado. To spread our mission far and wide, we need people like you. If you're interested in a paycheck with a purpose, apply with us today. Our people make the difference, and we truly believe you are our greatest asset.

Job Description

Mortgage Loan Processors are on the Mortgage Production Team and are tasked with these critical objectives: Analyzing mortgage applications and determining all documentation requirements based upon the uniqueness of the property, borrower's credit profile, employment type and history and/or income source(s), asset portfolio, source of down payment, and the loan type being requested and the corresponding investor standards. Organizing the borrower(s) and vendors (title companies, appraisal management co. HOA's, etc.) and communicating the requirements of approval. Retrieval and analysis of documentation, and compilation of a file to be submitted to mortgage underwriting for Conditional Approval Providing service to borrowers and REALTORs that supports ongoing business development activities of the MLO. Achieving (in partnership with Mortgage Underwriters, Mortgage Closers and other mortgage business units) industry leading NPS scores and industry leading turn times. Achieving compliant and salable mortgage loan production

Senior Mortgage Loan Processors are on the Mortgage Production Team and are tasked with the following critical objectives: Analyzing mortgage applications and determining all documentation requirements based upon the uniqueness of the property, borrower's credit profile, employment type and history and/or income source(s), asset portfolio, source of down payment, and the loan type being requested and the corresponding investor standards. Organizing the borrower(s) and vendors (title companies, appraisal management co. HOA's, etc.) and communicating the requirements of approval. Retrieval and analysis of documentation, and compilation of a file to be submitted to mortgage underwriting for Conditional Approval. Providing service to borrowers and REALTORs that supports ongoing business development activities of the MLO. Achieving (in partnership with Mortgage Underwriters, Mortgage Closers and other mortgage business units) industry leading NPS scores and industry leading turn times. Achieving compliant and salable mortgage loan production. Act as a mentor to all processors, assisting with problem solving and questions. Serve as a leader in the department.

Essential Functions at the Mortgage Loan Processor level:

• To ensure the timely and accurate processing of all assigned mortgage loans while maintaining quality standards and timelines. Conduct a detailed analysis of all loan file documentation for credit granting purposes including but not limited to application, credit report, DU Finding, pay stubs, tax returns, asset statements, and third party vendor documentation. Professionally and proactively communicate to all parties to ensure a positive member experience. Analyze all loan documentation for compliance with GSE and Ent portfolio guidelines. Evaluate and independently resolve complications that arise related to loan guidelines, member requests, regulatory requirements, etc. Communicate loan status with members, Mortgage Loan Officer (MLO) and industry partners. Act as the point person for the loan application. Professionally and proactively communicate with members to ensure a positive member experience.


• Setup loan file by ordering all required services from third-party vendors, such as appraisals, VOEs, VOMs, title commitments, flood certificates, tax transcripts, etc. to meet all required timelines. Update system with accurate closing costs.


• Conduct pipeline review no less than weekly with MLOs. Keep leadership and MLO informed of progress of mortgage loan file and advise them immediately of any problems that arise. Conduct daily review and follow-up with borrowers and vendors regarding outstanding items; gather necessary documentation as needed. Manage key dates and deadlines and document expiration dates.


• Research and maintain an updated knowledge of progressing loan program guidelines. Understand and meet all regulatory guidelines to guarantee loan compliance (i. e. points and fees tests, APR, QM, ATR, etc. )


• Bank Secrecy Act: Remains cognizant of and adheres to Ent policies and procedures, and regulations pertaining to the Bank Secrecy Act.

Essential Functions at the Mortgage Loan Processor Senior level:

• To ensure the timely and accurate processing of all assigned mortgage loans while maintaining quality standards and timelines. Conduct a detailed analysis of all loan file documentation for credit granting purposes including but not limited to application, credit report, DU Finding, pay stubs, tax returns, asset statements, and third party vendor documentation. Professionally and proactively communicate to all parties to ensure a positive member experience. Analyze all loan documentation for compliance with GSE and Ent portfolio guidelines. Evaluate and independently resolve complications that arise related to loan guidelines, member requests, regulatory requirements, etc. Communicate loan status with members, Mortgage Loan Officer (MLO) and industry partners. Act as the point person for the loan application. Professionally and proactively communicate with members to ensure a positive member experience.


• Setup loan file by ordering all required services from third-party vendors, such as appraisals, VOEs, VOMs, title commitments, flood certificates, tax transcripts, etc. to meet all required timelines. Update system with accurate closing costs.


• Conduct pipeline review no less than weekly with MLOs. Keep leadership and MLO informed of progress of mortgage loan file and advise them immediately of any problems that arise. Conduct daily review and follow-up with borrowers and vendors regarding outstanding items; gather necessary documentation as needed. Manage key dates and deadlines and document expiration dates.


• Act as a mentor to all processors, assisting with problem solving and questions. Serve as a leader in the department and assist with files when processors are out of the office.


• Research and maintain an updated knowledge of progressing loan program guidelines. Understand and meet all regulatory guidelines to guarantee loan compliance (i. e. points and fees tests, APR, QM, ATR, etc. )

Qualifications

Minimum Formal Qualifications at the Mortgage Loan Processor level:

• High School Diploma/G.E.D.


• 3+ years' experience in the financial services industry to include:


• 2+ years' mortgage loan processing experience.


• 1+ years' experience processing government loans. Pref

Minimum Formal Qualifications at the Mortgage Loan Processor Senior level:

• High School Diploma/G.E.D.


• 4+ years' experience in the financial services industry to include:


• 3+ years' mortgage loan processing experience.


• 2+ years' experience processing government loans. Pref

Each year of relevant work experience may be exchanged for a year in a relevant degree program or vice versa. For example, a requirement of a bachelor's degree in accounting and 2+ years of account experience could be substituted for a high school diploma and 6 years of relevant accounting work experience or a master's degree in accounting and 0 years of work experience.

Technical or Specialized Knowledge/Skills at the Mortgage Loan Processor level:

• Working knowledge of first mortgage products, terminology, and process flow.


• Working knowledge of investor and lending regulations.


• Ability to analyze member provided documentation (i.e. paystubs, credit reports, assets, tax returns, etc.), purchase contracts, title commitments, and recognize potential red flags/fraud.


• Strong problem solving ability.


• Strong win/win focus on coordinating member service and external pressures to create positive outcomes for all interested parties.


• Ability to prioritize/manage files and allocate resources


• Organized, detail oriented, flexible and able to multi- task in an ever-changing environment


• Display positive, professional demeanor and work independently with little supervision


• Self-motivated


• Initiative to meet and/or exceed job standards and willingness to take on other tasks that support the goals of the Credit Union


• Effective verbal and written communication skills


• Strong mathematical skills.


• Proficient with the Microsoft Office Suite of tools (Word/Excel/Powerpoint/Outlook).

Technical or Specialized Knowledge/Skills at the Mortgage Loan Processor Senior level:

• Extensive knowledge of first mortgage products, terminology, and process flow.


• Extensive knowledge of investor and lending regulations.


• Expert knowledge to analyze member provided documentation (i.e. paystubs, credit reports, assets, tax returns, etc.), purchase contracts, title commitments, and recognize potential red flags/fraud.


• Exceptional ability to maintain a win/win focus on coordinating member service and external pressures to create positive outcomes for all interested parties. to create positive outcomes for all interested parties.


• Effective written and verbal communication skills with the ability to match conversation styles to the intended audience.


• Able to provide guidance and constructive feedback to other team members.


• Ability to professionally handle employee loans while maintaining confidentiality at all times


• Advanced conflict resolution skills.


• Initiative to meet and/or exceed job standards and willingness to take on other tasks that support the goals of the Credit Union.


• Strong mathematical skills.


• Strong problem solving ability


• Ability to prioritize/manage files and allocate resources


• Organized, detail oriented, flexible and able to multi- task in an ever-changing environment


• Display positive, professional demeanor and work independently with little supervision


• Self-motivated


• Initiative to meet and/or exceed job standards and willingness to take on other tasks that support the goals of the Credit Union


• Proficient with the Microsoft Office Suite of tools (Word/Excel/Powerpoint/Outlook).

Certifications Required:

• None

Environmental, Physical and Psychological Requirements

• Standing - Occasionally


• Walking - Occasionally


• Sitting - Frequently


• Lifting - Rarely (40 Lbs)


• Carrying - Rarely


• Pushing - Rarely


• Pulling - Rarely


• Balancing - Rarely


• Stooping - Rarely


• Kneeling - Rarely


• Crouching - Rarely


• Crawling - Rarely


• Reaching - Occasionally


• Handling - Occasionally


• Grasping - Occasionally


• Feeling - Occasionally


• Talking - Frequently


• Hearing - Frequently


• Repetitive Motions - Frequently


• Eye/Hand/Foot Coordination - Occasionally


• Noises louder than normal speaking volume - Occasionally


• Temperature Changes - Rarely


• Atmospheric Conditions - Rarely

Additional Information

The pay range at the Mortgage Loan Processor level is: $20.41 to $25.82 per Hour (S12)

The pay range at the Mortgage Loan Processor Senior level is: $22.02 to $28.90 per Hour (S13)

Final compensation for this position will be determined by various factors such as relevant work experience, specific skills and competencies, education, certifications, and internal pay equity.

This position is eligible for an incentive plan.

We anticipate this position to close on 07/07/2024. Please submit your application at your earliest convenience to be considered.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.

Benefits Summary Sheet - 2024

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

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