Mortgage Loan Processor Details

Mortgage Loan Processor

PenFed Credit Union - Guaynabo, PR

Employment Type : Full-Time

Overview
Are you looking to take your career from good to great? As an employee of PenFed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities. We exist to help our members realize their full potential, educate and encourage their dreams, and make every effort to follow our mission and help our members “do better.” Joining PenFed is more than being an employee; it’s about being a part of the PenFed family.
PenFed is hiring a Mortgage Loan Processor at our San Patricio, Puerto Rico location. The primary purpose of this position is to provide detailed guidance and advice on product and pricing to members applying for a refinance or a purchase mortgage loan, ensuring exceptional Member service for complete application processing from and providing on-going communication to Members and business partners.

Responsibilities
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.

• Review all loans and registrations for completeness and accuracy. Serve as both originator and processor on loans. Responsible for generating Account Condition Letter (ACL) per Regulation B requirements.
• Act as Members main point of contact throughout the entire mortgage process, ensuring excellent levels of member service by providing guidance/advice/counsel on process, product and pricing in a detailed and comprehensive manner.
• Determine initial potential for qualification by evaluating credit history, income levels and assets/liabilities; calculate debt- to-income and loan-to-value ratios.
• Restructure loan request and recommend for adverse action as needed.
• Responsible for reviewing and addressing items involving loan product, credit, occupancy and employment verifications and order verbal verification of employment (VVOE) for pay-off accounts.
• Request action from Disclosure Desk and other internal partners as required by valid change in circumstances.
• Collect, analyze and ingest document to clear ACL conditions.
• Update loan origination system with the information from collected documents and re-run Desktop Underwriter (DU) or Strata as appropriate.
• Maintain a working knowledge of both originating systems for home equity loans and lines of credit.
• Assemble and submit completed file to Underwriting (UW); clear manual conditions, cure title issues, resolve appraisal discrepancies with appraisal review group as needed.
• Clear any prior-to-fund conditions that arise after final UW approval before passing loan to Closing.
• Remain main point of contact with borrower through closing and funding and answer any questions that borrower may have (e.g. questions on the HUD).
• Manage and cure any QC loan issues that require borrower communication.
• As required, ensure proper re-disclosures are prepared and delivered to the member within regulatory guidelines based on identified change in circumstances

Qualifications
Education and ExperienceEquivalent combination of education and experience is considered.

• Bachelor’s degree or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions.
• Minimum of one (1) year of experience preferably in residential mortgage lending in 1st Trust Mortgage or Home Equity processing/closing is preferred.

Work EnvironmentWhile performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise. *Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*
TravelAbility to travel to various worksites and be on-call is required.
Special Message Regarding COVID 19PenFed is continuing to hire and train exceptional individuals to help us serve our 2 million members both here and around the world. In light of the current situation with novel coronavirus (COVID-19), we have modified our hiring, onboarding, training, and deployment protocols in order to comply with current local and state guidance around social distancing.

About Us
Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 2 million members and over $26 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico and Okinawa. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.
We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.
Equal Employment OpportunityPenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.
PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 531-444-8329.