Real Estate Loan Processor II
Frontwave Credit Union is Now Hiring!!!
We are seeking an experienced Real Estate Loan Processor II to join our Frontwave Credit Union team. If you have experience processing all 1ST, 2nd and Home Equity Lines of Credit loan applications according to underwriting conditions and secondary market standards; and can efficiently and accurately process mortgage loan applications in compliance with Credit Union guidelines, FNMA and industry standards, this job may be for you!
About Frontwave Credit Union:
Frontwave Credit Union is a member-owned not-for-profit financial institution serving San Diego, Riverside, and San Bernardino counties. Founded in 1952, we have grown to 14 branches with 87,000 members and manage over $820 million in assets. At Frontwave Credit Union, we are focused on creating consumer solutions to provide our members and the communities we serve with products and services that enhance the quality of life for our members through exceptional service and the progressive application of technology.
The Real estate Loan Processor II is responsible for efficiently and accurately processing mortgage loan applications in compliance with Credit Union guidelines, FNMA and industry standards. Maintain quality service standards set by the organization.
Essential Duties and Responsibilities:
Includes the following non-inclusive list. Other duties may be assigned. All duties are to be performed in compliance with applicable laws, regulations, and Credit Union policies and procedures.
- Process all 1ST, 2nd and Home Equity Lines of Credit loan applications according to underwriting conditions and secondary market standards.Obtain all necessary loan documentation.
- Review and analyze all types of income to include paystubs, rental income, Schedule C, personal and business tax returns, etc.
- Update and verify accuracy of data input into LOS for processing.
- Review disclosures and Loan Estimates for accuracy.
- Analyze application, loan-to-value, debt-to-income, income and assets, source(s) of down payment funds.
- Analyze and review DU findings for accuracy and ensure proper documentation obtained.
- Examine supporting documentation to identify possible issues, potential fraud or misrepresentation.
- Review third party documentation (credit reports, title reports, appraisals, tax returns, etc.) to identify and address potential issues.
- Ability to work with real estate agents, escrow and title companies to secure clear title and vesting.
- Update borrowers and agents with loan status.
- Obtain and clear all outstanding loan conditions as set by underwriter.
- Provide information and assistance to members and staff, handle telephone inquiries, research and resolve member issues.
- Keep abreast of policies, products and rates.
- Ability to maintain and manage a pipeline of 30-40 loans.
- Knowledgeable in regulations and compliance including, REG B, REG Z, HMDA, TRID, RESPA and Flood.
Education and/or Experience:
- High School Education or General Education Degree (GED).
- Two to Three years processing experience with full documentation, conventional loans.
- Broad knowledge of real estate terminology and real estate principals.
- Effective interpersonal, written and verbal communication skills.
- Ability to work effectively under pressure and with large volumes.