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Real Estate Loan Processor

CA - San Diego

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POSITION OVERVIEW:

Are you Service-Driven and Detail Oriented? Do you thrive in a fast-paced environment? USE’s Real Estate Department is the perfect place for you! As a Real Estate Loan Processor, you’ll have the chance to create an effortless member expereince and help members achieve their dreams. Become part of a team that is key in delivering extraordinary experiences. Do you have what it takes?

SUMMARY
  • Conducts the lending activities related to the processing of real estate loans ( 1 st and 2 nd Trust
  • Deeds)
  • Primary responsibility is to timely processing of 1 st and 2 nd Trust Deed loan, in
  • accordance with credit union, conventional secondary market investors, mortgage insurance
  • company and federal and state regulators guidelines
  • Maintain quality service standards and service level agreements (SLA) set by the organization
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following.
  • Process 1 st and 2 nd Trust Deed loan applications according to credit union and secondary marketing lending standards; along with state and federal regulations
  • Proficiently maintain a loan pipeline of an average of 30 loans per month
  • Of the average pipeline, a minimum of 50% of the pipeline should fund monthly
  • Knowledge of RESPA and TRID guidelines
  • Proficient with credit union’s conventional and non-conventional loan products
  • Prepares revised Loan Estimates (LE) and ensures accurate accounting of all fees
  • Ordering and obtaining all required loan documentation from borrowers to satisfy underwriting
  • findings compiling the loan file in accordance with credit union and FNMA guidelines
  • This is be managed by working directly with loan officer, and or direct member contact
  • Request and review various file components including flood notification, credit report supplements, deposit statements, income verification and demands
  • Review the preliminary title report, escrow instructions and purchase contracts within LOS
  • Work with escrow and title companies to secure clear title and vesting on behalf of the lender
  • Order appropriate title policy endorsements, as applicable
  • Ability to read loan level price adjustments, rate sheets and determine correct rate, points and
  • add-ons when aplicable
  • Update borrowers, agents, and mortgage loan officers with loan status as stated in departments
  • SLA
  • Review all types of income verification to include: wage earners, paystubs, Schedule C,
  • corporate and rental income, etc.
  • Determine salability of loans to secondary market investors
  • Ensure loan applications adhere to property type, occupancy, loan to value and loan amount guideline established by FNMA, USE Credit Union and secondary market guideline
  • Render credit decisions in a fair and impartial manner to the best of his or her ability
  • Review and all appraisal reports, to ensure reports meet all conventional secondary market requirements
  • Submit all appraisal reports through FNMA Collateral Underwriter (CU) and Uniform Collateral Data Portal (UCDP)
  • Maintain strong working knowledge of current investor underwriting requirements, to include Fannie Mae, mortgage insurance companies, and other investors as business is developed
  • Perform processing tasks within the assigned service level agreements for position
  • Establish and maintain good working relationships with team members and retail network
  • Adhere to company policy and procedure, complete annual compliance training, comply with business continuity and vendor management policy
  • These are crucial to the success of the organization and have regulatory compliance and/or safety and soundness for the sustainability of the credit unión
  • Comply with all Anti Money Laundering laws such as the Bank Secrecy Act, OFAC and USA
  • PATRIOT Act and all related policies and procedures including accurate Member/Customer
  • Identification Program, member due diligence, accurate OFAC match processing, and reporting
  • unusual activities and suspected fraud
  • Other duties as assigned
QUALIFICATIONS
  • 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, skill, and/or ability required
  • Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions
EDUCATION and/or EXPERIENCE
  • Bachelor’s degree (B. A.) from four-year College or University; and/or equivalent combination
  • of education and experience
  • Minimum of 3-5 years recent (last five years is considered recent) experience processing conventional mortgages with a direct lender, mortgage insurance company
  • or mortgage bróker
  • Conventional full document processing a plus

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