HELOC Processor I

PenFed is hiring a (Hybrid) HELOC Processor I at our Phoenix, Arizona Mortgage Office.  The primary purpose of this job is to provide detailed guidance and advice in order to fulfill all loan qualification requirements in a compliant manner while ensuring exceptional member service by ongoing communication to members and business partners. The incumbent is responsible for evaluating and validating all information provided on the residential loan application and communicating to members about any additional requirements.  This position will serve as the members and real estate agents’ primary point of contact throughout the real estate transaction.

Start Date: 9/14/26

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.

• Review all loans and registrations for completeness and accuracy.
• Responsible for generating communicating and obtaining the Account Condition Letter (ACL) per Regulation B requirements.
• Act as members and real estate agents’ main point of contact throughout the mortgage process, ensuring excellent levels of service by providing guidance/advice/counsel in a detailed and comprehensive manner.
• Evaluate credit history, income levels and assets/liabilities; calculate debt-to-income and loan-to-value ratios.Restructure loan requests and recommend adverse action as needed.
• Review and address items involving loan product, credit, occupancy and employment verifications and order verbal verifications of employment (VVOE) for pay-off accounts.

• Request action from Disclosure Desk and other internal partners as required by valid change in circumstances.

• Collect, analyze and ingest document to clear ACL conditions.

• Update loan origination system with the information collected from documents and re-run Desktop Underwriter (DU) as appropriate.

• Maintain a working knowledge of both originating systems for home equity loans and lines of credit.

• Assemble and submit completed file to Underwriting (UW); clear manual conditions, cure title issues, resolve appraisal discrepancies with appraisal review group as needed.

• Clear any prior-to-fund conditions that arise after final UW approval before passing loan to Closing.

• Remain main point of contact with borrower through closing and funding and answer any questions that borrower may have (e.g. questions on the Closing Disclosure).

• Manage and cure any QC loan issues that require borrower communication.

• As required, ensure proper re-disclosures are prepared and delivered to the member within regulatory guidelines based on identified change in circumstances.

Equivalent combination of education and experience is considered.

• Bachelor’s degree or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions.
• Minimum of one (1) year of experience preferably in residential mortgage lending in 1st Trust Mortgage or Home Equity processing/closing is required.
• Encompass Experience preferred
• Outstanding communication and problem-solving skills.
• Strong attention to detail and organization
• Diligent and resourceful in finding solutions
• Ability to perform quality work and adhere to timeliness standards established by management.
• Ability to manage a high-volume pipeline
• Able to work independently and proactively, prioritizing workload and handle multiple tasks
• Experience using A.I. tools preferred.

Supervisory Responsibility

This position will not supervise employees.

Licenses and Certifications

There are no additional certifications required.

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*

Travel

Ability to travel to various worksites and be on-call may be required.

Pay Transparency
The anticipated starting hourly range for this role is $18.56 - $28.52
This position is eligible for an organizational performance based annual bonus, subject to board discretion and approval.
This position includes commission/incentive plan compensation.

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