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Home Equity Loan Processor
Position Description
Department: Mortgage
Reports to: Mortgages Sales Manager
Supervises: None
Position Purpose
The primary purpose of this position is to assist Associated Credit Union in living out its Mission: To offer members financial products that fulfill their needs, service that exceeds their expectations, and relationships that inspire their trust.
The Equity Product Processor will be responsible for assisting the Equity Product Originator with the origination, processing, and closing of Equity line/ loans. It will be necessary to have strong working relationships with the mortgage team and provide superior member service to ensure a positive member experience.
Essential Functions & Core Duties
- Work as a team with Equity product originator.
- Work with the members and interested parties to receive and index documentation that is required for each file.
- Work with Equity product Originator to ensure that files have the required documents for underwriting.
- Ensure all data in the LOS (OA) is complete and accurate.
- Work with vendors for mortgage processing to ensure that due dates are met on each file.
- Communicating statuses with the Equity product Originator of what is needed for the file and communicate with the members and other interested parties to the transaction.
- Keep the Equity product Originator, borrower, and third-party vendors updated on the loan status, items needed to fund, and any foreseeable issues or delays.
- Answer hunt group calls to mortgage for existing and new mortgage members.
Other Duties & Responsibilities
- Assist the Mortgage Team with vendors, payments, filing, and seminars as needed to ensure a positive member experience.
Qualifications
Education: High School graduate or equivalent. Some college is preferred.
Experience: Minimum of two (2) years in a financial institution, preferably in mortgage lending. Working knowledge of the mortgage industry.
Core Competencies:
- Strong analytical, research and problem-solving skills.
- Ability to build effective working relationships inside and outside the credit union.
- Ability to handle multiple files and tasks during the day.
- Ability to communicate clearly and effectively via in-person, email and telephone.
- Extremely organized and deadline driven.
- Self-starter and have the ability to work with limited supervision, be proactive and flexible.
- Extensive knowledge of the mortgage process and products.
- Proficient with Microsoft Word and Excel.
General Operational Requirements:
- Must be able to participate in business development opportunities such as working with Other ACU Departments, Realtors, CPAs, attorneys, and real estate organizations.
Performance Metrics
- Number of Equity product applications in process.
- Number of Equity products applications funded:
- Minimum expectation: 20 loans per month
- Goal: 30+ loans per month
- Quantity of errors and/or omissions when sending a file to underwriting.
- To help Equity Product Originator reach minimum goal of 20+ closed equity products/month with a goal of 30+ closed equity products/month.
- Log-in and answer hunt group phone calls for 75% of your work day, each day.
- Follow ACU Mortgage procedures as well as meet Fannie Mae Guidelines.
This job description is not intended to provide an all-inclusive listing of related job activities. Management may request the incumbent to perform other related activities in place of or in addition to those representative activities noted in this job description.
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