Job Title: Mortgage Specialist

Department: Mortgage

Reports To: Mortgage Manager

FLSA Status: Non-Exempt

Grade: 7

Summary

The Mortgage Specialist is responsible for performing job duties related to mortgage processing, closing, funding, and shipping as well as providing back up support for the servicing department. Primary job duties include: gathering paperwork related to mortgage loan applications in a timely manner and checking for accuracy; submitting files to underwriting for review; addressing and satisfying underwriting conditions; preparing closing documents; balancing CD with the title company; coordinating closing with members and the title company; perform post-closing reviews of files for compliance; preparing files for purchase by the investor (if sold); preparing for and assisting with loan fundings.  Must have the ability to prioritize, be highly organized and have solid problem solving and decision-making skills as well as be able to effectively communicate. Also, ensuring loan policy, HOEPA, TRID, and all Federal and State Lending Regulations are upheld. 

Essential Duties and Responsibilities include the following. Other duties may be assigned. This job description in no way implies that the duties listed here are the only ones the employee can be required to perform. The employee is expected to perform other tasks, duties and training as dictated by their supervisors.

Processing Responsibilities

• Ensure all loan documentation needed for underwriting approval is obtained
• Perform cursory review of credit, income, assets and property to prepare the file for underwriting
• Order Appraisals, Title Binders, Flood Determinations, hazard insurance, credit supplements and payoffs
• Maintain contact with borrowers and other parties as necessary for providing updates/status
• Prepare electronic files and submit files to underwriting for review
• Review title binder for requirements and address them with borrower and loan officer
• Ensure files meet all related regulatory and compliance requirements with regards to REG
• Monitor file dates and keep track of lock expirations and shipping deadlines
• Perform related follow-up tasks to assure problem solving and member satisfaction
• Review Preliminary Closing Disclosure from the Title company and update figures in the LOS prior to final submission
• Assist loan origination staff with follow up documentation needed from borrowers or other parties

Closing/Funding/Shipping Responsibilities

• Audit loan closing file to verify all necessary information is complete and accurate and all underwriting conditions have been met.
• Review hazard insurance policy to insure loan has adequate coverage and lenders interest in the property is protected.
• Verify the property address with the United States Postal Office being used as collateral for the loan.
• Review title commitment to ensure all liens have payoff statements or subordination agreements as applicable.  Review title commitment to ensure that all necessary exceptions are removed.
• Prepare closing package and send closing disclosure to title company to ensure it is balanced.
• Review closing disclosure for accuracy and completion and checks tolerance levels on fees with loan estimate.
• Coordinate loan closing by working with members, title companies, realtors and other interested parties pertaining to the loan.
• Check funding packages and request wire if all closing conditions have been met.
• Perform tracking and reporting functions to keep closed and funded loan status up to date.
• Ensure loans are funded correctly and disbursements are sent correctly.
• Maintain a log to track post closing documents.
• Prepare loans for shipping based on investor requirements.
• Establish and maintain systems that allow for the timely delivery of the loan package prior to the expiration of the lock date.
• Responsible for follow up with investor and clearing any suspense items within the allotted timeframe given by the investor.
• Ensure that loans are sent to the investor prior to lock expiration.

Servicing Support Responsibilities

• Position will assist the Servicing Department as needed with various Servicing functions
• Accurately identify all members using RGCU approved types of identification for all transactions. 
• Ensure that all CIP information for new accounts is complete prior to proceeding with a mortgage loan.
• Properly update all necessary CIP information in the core processor for prime and joint members and customers on all accounts for all transactions.
• Accurately perform OFAC during transactions such as but not limited to: opening new accounts; adding individuals to an account or shares; producing cashier’s checks or money orders; initiating wires, etc.
• Ensure that all accounts, loans, and transactions are reviewed for the appropriate red flags.

Member Service

• Come to work every day with a member focused, passionate, and dedicated mindset
• Approach every member situation from a caring, helpful, and open-minded position
• Proactively approach issues and offer creative solutions that will make doing business with RGCU easier
• Assists in any other areas as directed by Senior Management and/or President/CEO.
• Accurately identify all members using RGCU approved types of identification for all transactions. 
• Ensure that all CIP information for new accounts is complete prior to proceeding with a mortgage loan.
• Properly update all necessary CIP information in the core processor for prime and joint members and customers on all accounts for all transactions.
• Accurately perform OFAC during transactions such as but not limited to: opening new accounts; adding individuals to an account or shares; producing cashier’s checks or money orders; initiating wires, etc.
• Ensure that all accounts, loans, and transactions are reviewed for the appropriate red flags.
• Report all suspicious activity to the Risk Management department via the compliance group email

Supervisory Responsibilities       

This job has no supervisory responsibilities.

Competencies 

To perform the job successfully, an individual should demonstrate the following competencies:

Business Acumen - Understands business implications of decisions; Displays orientation to profitability; Demonstrates knowledge of market and competition; Aligns work with strategic goals and complies with all Federal and State compliance policies.

Oral Communication - Speaks clearly and persuasively in positive or negative situations; projects a positive and professional image; listens and gets clarification; responds well to questions; demonstrates group presentation skills; participates in meetings.

Written Communication - Writes clearly and informatively; edits work for spelling and grammar; varies writing style to meet needs; presents numerical data effectively; able to read and interpret written information.

Organizational Support - Follows policies and procedures; Supports organization’s goals and values; Ensures that loans are processed in accordance with the Credit Unions policies and procedures

Time Management - Determine priorities to ensure accomplishment of tasks.

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     

Experience- 6 months to 2 years related experience

Education- 2-year degree or completion of a specialized course of study OR 2 years of related experience.

Language Skills                                                      

Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals.  Ability to write routine reports and correspondence.  Ability to speak effectively before groups of customers or employees of organization.

Mathematical Skills                                                             

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.  Ability to apply concepts of basic algebra and geometry. Must be detail oriented.

Reasoning Ability                                                  

Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.  Ability to deal with problems involving several concrete variables in standardized situations.

Computer Skills                                                     

To perform this job successfully, an individual should have knowledge of Loan Origination software, DU (Desktop Underwriter), DO (Desktop Originator), Outlook, Microsoft Word and Excel, along with a general understanding of the Internet.

Certificates, Licenses, Registrations 

Mortgage License System number preferred

Pursuant to the SAFE Act policy, you must register and maintain a status in good standing. Failure to register successfully or to maintain a status in good standing under the SAFE Act will affect your eligibility for continued employment and may result in your immediate termination.

• I will not act as an MLO for Rio Grande Credit Union until I have received notification from the NMLS Registry that I have been registered and I have forwarded said notification to the Human Resources Department.
• If at any time I allow my NMLS registration to lapse, I will not be allowed to act as a MLO until the registration has been completed.                

Physical Demands 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this Job, the employee is regularly required to sit and use hands to finger, handle, or feel. The employee is frequently required to reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds.

Work Environment 

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually quiet.

Rio Grande Credit Union is an Affirmative Action and Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.