Mortgage Loan Processor

Marine Credit Union - Davenport, IA

Full-time - Entry Level

Davenport, IA

Credit Intermediation and Related Activities

About the position

The Mortgage Loan Processor serves as a crucial liaison between members, Mortgage Loan Representatives, and the credit union, responsible for processing mortgage loan applications and ensuring compliance with regulations. This role involves coordinating with third-party contractors and maintaining accurate records throughout the mortgage loan process.

Responsibilities

• Gather background information on loan applications and research discrepancies.
• Initial review of HMDA entries for accuracy and completeness.
• Accurately update mortgage loan tracking records.
• Verify employment, assets, and credit history of loan applicants.
• Review title work to ensure lien and ownership information is acceptable.
• Review appraisal and flood certificates to ensure value and location meet loan requirements.
• Maintain a filing system to monitor required documentation.
• Send out credit notices to spouses when necessary.
• Stack, review, and submit completed files to the underwriting department.
• Coordinate with Mortgage Loan Representatives to gather and clear underwriting conditions.
• Promote and provide excellent customer service by effectively communicating with customers.
• Audit physical and electronic files for completeness and compliance.
• Purge loan files by destroying out-of-date or unnecessary documents.
• Ensure accuracy and completeness of loan file information processed.
• Maintain compliance with policies and regulations.
• Stay updated on changes in policies and regulations applicable to the mortgage industry.

Requirements

• High School Diploma or GED required.
• 1+ years of mortgage loan processing experience desired.
• Knowledge of the mortgage loan process and associated documentation.
• Knowledge of regulations and laws associated with residential lending.
• Ability to determine incomplete, inaccurate, or missing information.
• Strong computer skills and attention to detail.

Nice-to-haves

• Associate's College Degree in Finance, Business, Math, Accounting, or related field is a plus.
• Certifications related to Lending and Loan Processing are desirable.
• Experience with consumer and commercial loan processes is a plus.

Benefits

• Full-time position with potential for career growth.
• Opportunity to work in a supportive team environment.