Processing Specialist

Job Description

Title: Lending Processing Specialist

Job Classification: Full Time

FLSA Status: Non-Exempt

Department: Lending Operations

Reports To: Manager of Lending Operations

Job Overview

Assist in the loan process by preparing applications for approval or other disposition, ordering documents needed to complete the files, updating information on the lending systems, preparing documents for closing, calculating and disbursing funds in accordance with the BHCCU’s policies/procedures and in compliance with pertinent regulatory requirements.

Major Tasks, Responsibilities and Key Accountabilities

The Lending Processing Specialist will be required to perform the following functions within 48 hours of the receipt of the new application from the Loan Officer:

• Request and verify accuracy of incoming data and coordinates any problems or discrepancies with members and Loan Originators.
• Review/fulfill loan information, tracking items, and any necessary documentation for proper processing and underwriting of loan requests. Including but not limited to; assisting in gathering/collecting/processing all required loan documentation according to the Credit Union’s policies and procedures.
• Prepare verification forms for income, deposits, rent, etc. to mail, email, fax or telephone as needed.
• Order appraisals, flood determinations, title commitments, tax transcripts, etc. as needed by sending appropriate order forms to vendors.
• Request and verify accuracy of incoming data and coordinates any problems or discrepancies with members and Loan Originators.
• Adhere to critical regulation requirements regarding compliance for disclosures and timelines.
• Update information in computer system and review for accuracy.
• Assemble and analyze borrower data and compute ratios for submission to loan underwriters. (Rerun’s DU (Desktop Underwriting) findings and completes Underwriter Transmittal).
• Present loan file to Underwriting for an additional credit decision, if needed.
• Prepare and send commitment letters or Adverse Action Notices.
• Assist as needed to obtain additional information to complete the loan transaction to closing. (Obtain payoff statements; obtain HO insurance information, etc.)
• Completes instruction forms for closing and complete data entry for loan.
• Assists in following up on outstanding loan documentation.
• Assists with other department activities and member mortgage inquiries as needed.
• Promotes all services available at BHCCU.
• Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act and the Office of Foreign Assets Control.
• Perform special projects and other duties as assigned.

Major Skills and Competencies

• Experience with different types of mortgage loans, escrow and ARM requirements.
• Familiar with various online origination and loan system software.
• Must possess strong interpersonal skills, a positive attitude, and a desire to help people.
• Must possess effective verbal and written communication skills.
• Must possess good judgment.
• Must possess basic math skills.
• Ability to organize and prioritize work and maintain accurate records.
• Projects a professional image.

Physical Job Requirements

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 communicate with a diverse membership and employee group.
• 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.
• Variable stress levels.
• Provide own transportation.
• Occasional business travel.

Environmental Job Requirements

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.

Minimum Qualifications

• Pass the pre-employment drug test and background check.
• Associate degree or an equivalent level of knowledge, skills, and abilities typically acquired through work experience.
• Must be at least 18 years of age.
• Two years of previous Mortgage Processing Experience.

Preferred Qualifications

• Previous experience recommending products and plans to improve a customer’s financial position.
• Knowledge of banking and/or credit union regulations.