Posting ID: 7339356
We are looking to hire multiple loan processor to join a growing lending team within CT's largest community credit union, offering generous benefits and career longevity and growth!
Manages and processes a pipeline of first mortgage and home equity loans while providing superior member service. Ensures legal compliance procedures and Credit Union lending policies are consistently maintained and applied.
Essential Duties and Responsibilities:
- Reviews loan pipeline on a regular basis to ensure files progress thoroughly and accurately toward closing prior to expiration of contingency dates, including loan commitment and rate lock dates.
- Works with borrowers to gather adequate documentation to pre-underwrite, income, credit, asset, etc. in order to submit to underwriting for a loan decision to be made according to Credit Union and investor guidelines.
- Provides high-level support for all internal and external stakeholders, including branch retail staff, Loan Originators, borrowers and team members.
- Re-discloses loans in accordance with federal regulations as needed. Receives and verifies accuracy of any changed circumstances from original application request that result in redisclosure. Fees must be categorized in the correct tolerance buckets.
- Determines level of appraisal and title work needed on home equity loan and line of credit applications and works with third party vendors when corrective action is required.
- Determines acceptability of collateral by reviewing home equity appraisals, valuations and property condition reports to ensure collateral is sufficient.
- Ensures accuracy of HMDA reportable information in Credit Union loan origination software.
- Ensures delivery of appraisals to borrowers within three days of closing in accordance with Regulation Z.
- Verifies loan data meets HPML and HOEPA threshold Regulation Z guidelines.
- Ensures all loan documentation are accurate, complete, and meet federal regulations and investor guidelines in order to avoid loan buybacks in the secondary market prior to submitting to underwriting.
- Reviews and interprets AUS findings to pre-determine borrower's ability to repay has been evaluated and documented prior to submitting to underwriting.
- Receives and clears administrative underwriting conditions needed after loan approval.
- Coordinates with all applicable parties when conditions have been satisfied so that file can be moved to clear to close status.
- Counsels borrowers on purchase and refinance transactions. Addresses any/all mortgage-related questions including rates, products, and disclosures.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Associate's degree and a minimum of three to five years of related experience or an equivalent combination of education and experience.
Your success starts with the right career opportunity. Aerotek uses a people-focused approach to connect job seekers to incredible opportunities with leading organizations. Established in 1983, we've grown to become a consistent Best of Staffing® winner for talent satisfaction because of our dedication to exceptional service. Serving over 300,000 contract workers every year, we specialize in placing workers with engineering, scientific, professional and industrial skill sets. Aerotek is proud to offer competitive benefits, including contributory medical, dental and vision insurance, weekly pay, discounts on consumer goods and services and more.
Recruiter: Dora Aranibar