Job Summary:
Educate, advise and guide potential borrowers through the mortgage loan application process.
Duties & Responsibilities:
- Handle incoming phone calls from members regarding types of mortgages available; including equity loans, equity lines of credit and conventional residential loans.
- Interview members and takes applications, provides preapproval letter (if applicable) for residential loans or submits loan to Manager for possible override, exception or adverse action process.
- Communicate with members on an ongoing basis throughout the loan process to provide overview of process, collect necessary information, and inform members of underwriting decision.
- Discuss in detail, as needed, loan denials, counteroffers, credit underwriting criteria, and tax statements with members. Refer members to Credit Counseling if necessary.
- Assess loan alternatives in making loan decisions, using industry accepted analytical techniques.
- Responsible for obtaining documentation as per Fannie Mae Desktop Underwriter.
- Review loan conditions to ensure that they are prepared professionally and consistent with Fannie Mae requirements.
- Maintain working knowledge of secondary market guidelines and software applications.
- Create and set up new loan applications on Symitar for Equity Lines of Credit. Pull credit report, verify income, order title insurance and appraisal, if required, and request update of insurance endorsement as necessary.
- Request pay-off details for accounts to be closed.
- Manually prepare final closing documents. Conduct loan closings with members on Equity Loans and Equity Lines of Credit. If loan was taken at a branch, ship closing documentation to them for closing and review closed file for completeness.
- Process loan advance requests from members on Equity Loans and/or Equity Lines of Credit.
- Maintain compliance with laws and regulations applicable to mortgages.
- Maintain personal information up-to-date in the NMLS registry within 30 days of a change.
- Performs other duties as assigned by management.