Position Purpose
Position is responsible for planning, preparing and organizing real estate loan files to ensure accurate and expeditious loan closings/fundings, ensuring all documentation is in compliance to secondary market, TRID, and OFCU requirements, service standards, and values.
Essential Functions And Basic Duties
Review all loan documents for completeness and accuracy.
Act as the secondary market coordinator for loan delivery, validation of rate locks, pricing, rate sheet distribution from all investors and distribution of funding advice memorandum to management.
Complete pre‑closing review of all documents for delivery to investors. Ensure that the specific loans are in the proper stacking order for the individual investors.
Complete post‑closing review for submission to third party mortgage reviewer pursuant to the Orion FCU quality control policy.
Act as a liaison between Orion FCU and the various investors for post‑closing issues impacting the sale of the loan on the secondary market. Requires timely response and rebuttal to investors to ensure loan pricing is completed within lock period.
Prepare rebuttal to the investor to clear their objections; prepare report of all funding advice received for management to track net gain on sale to various investors versus locked projections.
Deliver loans to investors in accordance with best efforts rate lock timing. Ensure Orion FCU is not penalized financially for late loan delivery. Confirm timely delivery with investors.
Act as a liaison between Member, Mortgage Loan Originator, Processing Team Lead, Closing Agents, Realtors and Title Companies as it relates to the loan closing.
Register loans through MERS system. Act as an Administrator for MERS within Orion FCU.
Adhere to complex regulatory oversight with the implementation of the TRID Regulation.
Ensure quality and compliance of work with OFCU’s policies and procedures and Investor (Fannie Mae) guidelines.
Maintain a thorough working knowledge of OFCU’s and regulatory changes that affect the funding process.
Contact closing agent(s) and member(s) to schedule closings and determine all parameters/fees of the closing agent. Ensure underwriter or manager sign off prior to funding and resolve any pre‑funding items. Maintain thorough working knowledge of Sales Contract, Title Commitment, Appraisal, Flood Certification, HOI, 1003, Rate Lock Sheet, Payoff Statements, TRID Closing Disclosure (CD) and all other applicable documentation involved in a Real Estate Mortgage Loan Closing.
Verify and prepare wire transfer instructions as well as verifying loan amounts, fees, rates, discount points, rebates and other funding amounts.
Input funding information into the mortgage loan origination system (LOS) and export to create tracking records to member accounts.
All other related duties as assigned.
Qualifications EDUCATION/CERTIFICATION: High school graduate or equivalent. Bachelor’s degree preferred.
Experience Required Two or more years’ mortgage closing and funding experience under current CFPB’s TRID regulatory requirements. Experience in secondary market a plus.
Knowledge, Skills, and Abilities
Knowledge of real estate principles, practices, rules, regulations, sales, and ability to interpret mortgage, title, escrow, insurance and legal documents.
Understanding of TRID requirements.
Thorough attention to detail as last person to review and fund loans.
Thorough knowledge in the use of Internet‑based loan origination software.
Knowledge of investor guidelines and compliance requirements.
Skill in the operation of personal computers with Intranet and Internet access, and office equipment.
Ability to communicate effectively both verbally and in writing.
Ability to establish and maintain effective work relationships with internal and external contacts including vendors and other Credit Union employees.
Ability to act independently and confidentially, using discretion and tact.
Ability to analyze situations and recommend workable solutions.
Ability to coordinate a variety of activities simultaneously and prioritize work.
Ability and desire to work in a team environment.
Working Conditions Typical office environment.
Other Requirements Successful candidates must pass pre‑employment credit checks, background checks, and drug screens.
Equal Opportunity Statement Orion Financial is an equal opportunity at‑will employer and does not discriminate against any employee or applicant for employment because of age, race, religion, color, disability, sex, sexual orientation, national origin or any other federal or state protected class. We maintain a drug‑free workplace and perform pre‑employment substance abuse testing. If you are unable to complete this application due to a disability, contact us to ask for an accommodation or an alternative application process.
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Essential Functions And Basic Duties
Review all loan documents for completeness and accuracy.
Act as the secondary market coordinator for loan delivery, validation of rate locks, pricing, rate sheet distribution from all investors and distribution of funding advice memorandum to management.
Complete pre‑closing review of all documents for delivery to investors. Ensure that the specific loans are in the proper stacking order for the individual investors.
Complete post‑closing review for submission to third party mortgage reviewer pursuant to the Orion FCU quality control policy.
Act as a liaison between Orion FCU and the various investors for post‑closing issues impacting the sale of the loan on the secondary market. Requires timely response and rebuttal to investors to ensure loan pricing is completed within lock period.
Prepare rebuttal to the investor to clear their objections; prepare report of all funding advice received for management to track net gain on sale to various investors versus locked projections.
Deliver loans to investors in accordance with best efforts rate lock timing. Ensure Orion FCU is not penalized financially for late loan delivery. Confirm timely delivery with investors.
Act as a liaison between Member, Mortgage Loan Originator, Processing Team Lead, Closing Agents, Realtors and Title Companies as it relates to the loan closing.
Register loans through MERS system. Act as an Administrator for MERS within Orion FCU.
Adhere to complex regulatory oversight with the implementation of the TRID Regulation.
Ensure quality and compliance of work with OFCU’s policies and procedures and Investor (Fannie Mae) guidelines.
Maintain a thorough working knowledge of OFCU’s and regulatory changes that affect the funding process.
Contact closing agent(s) and member(s) to schedule closings and determine all parameters/fees of the closing agent. Ensure underwriter or manager sign off prior to funding and resolve any pre‑funding items. Maintain thorough working knowledge of Sales Contract, Title Commitment, Appraisal, Flood Certification, HOI, 1003, Rate Lock Sheet, Payoff Statements, TRID Closing Disclosure (CD) and all other applicable documentation involved in a Real Estate Mortgage Loan Closing.
Verify and prepare wire transfer instructions as well as verifying loan amounts, fees, rates, discount points, rebates and other funding amounts.
Input funding information into the mortgage loan origination system (LOS) and export to create tracking records to member accounts.
All other related duties as assigned.
Qualifications EDUCATION/CERTIFICATION: High school graduate or equivalent. Bachelor’s degree preferred.
Experience Required Two or more years’ mortgage closing and funding experience under current CFPB’s TRID regulatory requirements. Experience in secondary market a plus.
Knowledge, Skills, and Abilities
Knowledge of real estate principles, practices, rules, regulations, sales, and ability to interpret mortgage, title, escrow, insurance and legal documents.
Understanding of TRID requirements.
Thorough attention to detail as last person to review and fund loans.
Thorough knowledge in the use of Internet‑based loan origination software.
Knowledge of investor guidelines and compliance requirements.
Skill in the operation of personal computers with Intranet and Internet access, and office equipment.
Ability to communicate effectively both verbally and in writing.
Ability to establish and maintain effective work relationships with internal and external contacts including vendors and other Credit Union employees.
Ability to act independently and confidentially, using discretion and tact.
Ability to analyze situations and recommend workable solutions.
Ability to coordinate a variety of activities simultaneously and prioritize work.
Ability and desire to work in a team environment.
Working Conditions Typical office environment.
Other Requirements Successful candidates must pass pre‑employment credit checks, background checks, and drug screens.
Equal Opportunity Statement Orion Financial is an equal opportunity at‑will employer and does not discriminate against any employee or applicant for employment because of age, race, religion, color, disability, sex, sexual orientation, national origin or any other federal or state protected class. We maintain a drug‑free workplace and perform pre‑employment substance abuse testing. If you are unable to complete this application due to a disability, contact us to ask for an accommodation or an alternative application process.
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