- Plymouth, MN
TruStone Home Mortgage is a dedicated and specialized division of TruStone Financial Federal Credit Union. This division is focused on the fast-paced and highly-regulated home mortgage market. Loans originated in this division are originated and underwritten to national standards established by divisions of the federal government (e.g. USDA, VA, FHA), government-sponsored enterprises (e.g. FNMA and FHLMC) and large institutional investors. This position is responsible for reviewing first mortgage loans for completeness, updating information in the computer system, ordering documentation including credit, appraisal, title work, income/asset verification, etc. required to meet portfolio and investor program guidelines. Complete package first mortgage loan requests and submit to the Underwriting department for approval. Provides quality customer service between and for internal and external customers.
Essential Functions, Duties and Responsibilities:
- Order documentation from the borrower or external sources that are needed to facilitate a loan decision, including income and asset documentation, appraisals, title work, etc.
- Review income documentation, performing complex analysis of tax returns when needed, to compute borrowers qualifying income
- Review asset documentation to insure assets are sourced and seasoned per program guidelines and the borrower has sufficient funds to close the transaction
- Review the appraisal to insure compliance with HVCC and the TFFCU guidelines
- Review title work and resolve any issues to insure no material defects will encumber the property
- Review credit information to insure the borrower meets program guidelines
- Submit first lien loan packages to Underwriting for approval.
- Prepare loan package for submission to closer
- Work with Loan Originator, Underwriter and Closer to resolve issues and facilitate a smooth loan process and closing for the borrower
- Communicate with borrower, Realtor, Closing Agent regarding documentation required, file progress, closing arrangements, etc, while maintaining borrower confidentiality
- Participate in training and continuing education to stay up-to-date of changing Laws and Regulations regarding processing and underwriting of Fannie Mae, Freddie Mac and FHA Loans.
- Answer incoming calls, assist applicants with questions about loan files in process; or re-direct the caller to appropriate staff in other areas of department or the Credit Union.
- Maintain up to date knowledge and adheres to all regulations, policies, procedures and standards that pertain to this position.
- Capable of handling a pipeline of 50-75 loan files, with an average processing time to approval that meets current department goals.
- Prepare and submits reports as assigned.
- Responsible for regular and reliable attendance at the workplace.
- Perform other duties and projects as assigned.
Major Skills and Competencies
- Knowledge of mortgage product and underwriting guidelines, and regulatory requirements.
- Must possess excellent verbal and written communication skills.
- Maintain a high level of business acumen with the ability to develop strong relationships with borrowers, branch personnel and industry partners.
- Ability to identify and facilitate change in a deadline driven, highly regulated environment.
- Competency in basic math skills such as calculating interest and mortgage payments.
- Attention to detail and problem solving skills are essential.
- Comfortable working with and balancing data in a variety of loan systems.
- Must work well under pressure and be able to meet externally influenced deadlines.
- Solid time management skills and the ability to organize, prioritize, and perform multiple tasks simultaneously.
- Bachelor's Degree in Finance, Business Administration or a related field, or four years of equivalent work experience in the mortgage lending field.
- Two years of processing experience in conventional, FHA, VA and USDA loans.
- Satisfactory completion of pre-employment screening.
- FHA/VA experience desired.
- Experience working with the Encompass system.
Frequent periods are spent standing or sitting in the same location with some opportunity to move about; occasionally there may be a need to stoop or lift light objects (typically less than 8 pounds).
- Ability to accomplish the described responsibilities through the use of computers and technology.
- Ability to sit and/or stand for extended periods of time.
- Ability to work in a changing, challenging and fast paced work environment with variable stress.
Typically located in a comfortable, quiet indoor area. There may be regular exposure to mild physical discomfort from factors such as dust, fumes or odors, temperature extremes, strong drafts, or bright lights.
We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law.
In Unit Classification
This position is currently accepting applications.
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