Mortgage Loan Processor III - External Real Estate
Redwood Credit Union, Napa, CA, United States
Redwood Credit Union is seeking an External Real Estate Mortgage Loan Processor III, who will support the external real estate sales group with the coordination, organization, and preparation of up to the most complex real estate loan transactions. This role is responsible for ensuring accurate and expeditious loan closings while providing superior Member service and working accurately and efficiently in a fast-paced environment.
Key Responsibilities Loan Officer Support
Collaborate and communicate directly with Member when External Loan Officer is not able, to ensure loan is progressing and service is not impacted due to unavailability of ELO
Coordinate and effectively communicate with the External Loan Officer to ensure Member expectations are understood and met
Inform Members on the status of their loan applications, at least on a weekly basis, or more frequently as necessitated by Member expectations
Proactively interface with affiliates and vendors on purchase transactions to obtain contracts, addendums, inspection reports and confirm that deadlines are met and escrows are closed subject to contract dates
Utilize Lending Authority to approve and/or make recommendations for loan approval up to established limits
Issue compliance documents, exhibits and disclosures (Loan Estimate, Closing Disclosure, Appraisals, etc.) when necessary
Assist with locking loans within the LFC once pricing is confirmed with the Member and the External Loan Officer
Report daily of any problem or concerns with specific loan files to direct supervisor or Mortgage Manager
Propose new or improved processes that will increase efficiencies or improve the Member experience
Identify difficult, complex loan issues at or before application and apply RCU’s portfolio philosophy to structure loan, make recommendations and present to direct supervisor or Mortgage Manager; attend or support external mortgage business development events as needed
Loan Processing
Review mortgage loan applications to ensure accuracy, completeness, compliance with government, internal and investor standards
Accurately read and interpret underwriting /DU findings and Transmittal Summaries
Arrange for opening of escrows through title companies; order and review preliminary title reports for accuracy and acceptability
Order appraisal and all other third-party documents (e.g., tax service, flood certification and credit report as applicable) and review all such documents for accuracy and acceptability
Review appraisal reports to ensure that required level of appraisal fieldwork has been completed; that they are professional quality and are prepared in a way that is consistent with FNMA and RCU requirements
Verify all types of borrower income from basic paystubs to complex personal and business tax returns as required in DU messages and RCU procedures
Request and review proper documentation on all mortgage loans and work directly with borrower/Member to satisfy the requirements of the loan
Promptly identify issues raised in processing documents received that may impact qualifying and alert the External Loan Officer or Manager of potential issues and solutions
Prepare and submit a complete and accurate file to underwriting
Work directly with the Member to satisfy any underwriting conditions and all other relevant information necessary to complete the file
Take ownership of processing highly sensitive or uniquely complex loan files
Review Denials for opportunities to restructure or counteroffer loan applications
Identify expired counteroffers and send out Statement of Credit Denial and Adverse Action Letters as required
Answer and respond to telephone calls within established performance and service guidelines
Cross‑Sell other Credit Union products and services that are appropriate to each Member on an as needed basis
Take actions necessary to address Member service requests after the loan has closed
Loan File Management & Other Functions
Develop and utilize frequent pipeline management and reporting system in partnership with the External Loan Officer and managers to ensure superior Member service
Work with management in developing, implementing and maintaining effective daily operation of Loan Processing for the External Loan Officer Team
Review and respond to any quality control reports and findings on mortgage loans and recommend corrections
Ability to train staff on the process and flow of the Real Estate Sales group
Provide general assistance to management in completing tasks and projects
Attend Sales Meetings to stay apprised of Loan Officer trends and feedback
Minimum Qualification: Knowledge, Skills and Abilities
Thorough knowledge of Internet-based loan origination software
Knowledge of secondary market investor requirements, compliance requirements, selling procedures and guidelines
Knowledge of Federal and State laws, rules, and regulations related to real estate lending and credit unions
Knowledge of all residential mortgage loan products offered by RCU
In‑depth knowledge of processing real estate loan files to meet RCU and Fannie Mae standards
Skill in the operation of a PC with Word, Excel, Loan Origination Systems (Mortgage Cadence, etc.), Symitar, Desktop Underwriter
Ability to analyze situations and recommend workable solutions
Ability to communicate effectively both verbally and in writing
Ability to establish and maintain effective working relationships with diverse group of people, including vendors and other Credit Union team members
Ability to use judgment and discretion in making decisions
Ability to act independently and confidentially
Licenses and Certifications
Ability to obtain and maintain registration with the National Mortgage Licensing System and Registry in compliance with the requirements of Federal Law, including the SAFE ACT and NCUA part 761
Compensation Base starting range: $34.00 to $46.00 hourly commensurate with experience.
Benefits package
Competitive medical, dental, and vision insurance, mental health offerings
Employee performance incentive plan
Salary Advancement – Merit increase based on performance
401(k) program with employer match
Time Off – Competitive PTO accrual plus 11 paid company holidays and your birthday off
RCU Discounts and Perks
RCU employees are eligible for a 0.75% discount off RCU standard collateral auto loans
RCU employees are eligible for a 1% discount on all recreational or boat loan products
2% discount off Visa and LOC Loans through RCU
0% interest loan to support employees with various immigration related expenses such as visa application fees and relocation costs. Loan amount up to $1,000
0% interest loan to support employees with expenses associated with the naturalization process. Loan amount up to $15,000
0% interest on garment, fitness, or home office equipment loan of up to $500
100% financing for employee purchased homes
Physical Requirements
Ability to stand, bend, stoop, sit, walk, twist, and turn
Ability to lift up to 20 pounds occasionally
Ability to use a computer keyboard, calculator, and telephone
Work environment is indoors, majority of time is spent sitting at a workstation
Ability to work efficiently and quickly in a fast-paced environment
Redwood Credit Union is not offering Visa transfers and/or sponsorships for this position
Equal Opportunity Employer We are an Equal Opportunity Employer
#J-18808-Ljbffr
Key Responsibilities Loan Officer Support
Collaborate and communicate directly with Member when External Loan Officer is not able, to ensure loan is progressing and service is not impacted due to unavailability of ELO
Coordinate and effectively communicate with the External Loan Officer to ensure Member expectations are understood and met
Inform Members on the status of their loan applications, at least on a weekly basis, or more frequently as necessitated by Member expectations
Proactively interface with affiliates and vendors on purchase transactions to obtain contracts, addendums, inspection reports and confirm that deadlines are met and escrows are closed subject to contract dates
Utilize Lending Authority to approve and/or make recommendations for loan approval up to established limits
Issue compliance documents, exhibits and disclosures (Loan Estimate, Closing Disclosure, Appraisals, etc.) when necessary
Assist with locking loans within the LFC once pricing is confirmed with the Member and the External Loan Officer
Report daily of any problem or concerns with specific loan files to direct supervisor or Mortgage Manager
Propose new or improved processes that will increase efficiencies or improve the Member experience
Identify difficult, complex loan issues at or before application and apply RCU’s portfolio philosophy to structure loan, make recommendations and present to direct supervisor or Mortgage Manager; attend or support external mortgage business development events as needed
Loan Processing
Review mortgage loan applications to ensure accuracy, completeness, compliance with government, internal and investor standards
Accurately read and interpret underwriting /DU findings and Transmittal Summaries
Arrange for opening of escrows through title companies; order and review preliminary title reports for accuracy and acceptability
Order appraisal and all other third-party documents (e.g., tax service, flood certification and credit report as applicable) and review all such documents for accuracy and acceptability
Review appraisal reports to ensure that required level of appraisal fieldwork has been completed; that they are professional quality and are prepared in a way that is consistent with FNMA and RCU requirements
Verify all types of borrower income from basic paystubs to complex personal and business tax returns as required in DU messages and RCU procedures
Request and review proper documentation on all mortgage loans and work directly with borrower/Member to satisfy the requirements of the loan
Promptly identify issues raised in processing documents received that may impact qualifying and alert the External Loan Officer or Manager of potential issues and solutions
Prepare and submit a complete and accurate file to underwriting
Work directly with the Member to satisfy any underwriting conditions and all other relevant information necessary to complete the file
Take ownership of processing highly sensitive or uniquely complex loan files
Review Denials for opportunities to restructure or counteroffer loan applications
Identify expired counteroffers and send out Statement of Credit Denial and Adverse Action Letters as required
Answer and respond to telephone calls within established performance and service guidelines
Cross‑Sell other Credit Union products and services that are appropriate to each Member on an as needed basis
Take actions necessary to address Member service requests after the loan has closed
Loan File Management & Other Functions
Develop and utilize frequent pipeline management and reporting system in partnership with the External Loan Officer and managers to ensure superior Member service
Work with management in developing, implementing and maintaining effective daily operation of Loan Processing for the External Loan Officer Team
Review and respond to any quality control reports and findings on mortgage loans and recommend corrections
Ability to train staff on the process and flow of the Real Estate Sales group
Provide general assistance to management in completing tasks and projects
Attend Sales Meetings to stay apprised of Loan Officer trends and feedback
Minimum Qualification: Knowledge, Skills and Abilities
Thorough knowledge of Internet-based loan origination software
Knowledge of secondary market investor requirements, compliance requirements, selling procedures and guidelines
Knowledge of Federal and State laws, rules, and regulations related to real estate lending and credit unions
Knowledge of all residential mortgage loan products offered by RCU
In‑depth knowledge of processing real estate loan files to meet RCU and Fannie Mae standards
Skill in the operation of a PC with Word, Excel, Loan Origination Systems (Mortgage Cadence, etc.), Symitar, Desktop Underwriter
Ability to analyze situations and recommend workable solutions
Ability to communicate effectively both verbally and in writing
Ability to establish and maintain effective working relationships with diverse group of people, including vendors and other Credit Union team members
Ability to use judgment and discretion in making decisions
Ability to act independently and confidentially
Licenses and Certifications
Ability to obtain and maintain registration with the National Mortgage Licensing System and Registry in compliance with the requirements of Federal Law, including the SAFE ACT and NCUA part 761
Compensation Base starting range: $34.00 to $46.00 hourly commensurate with experience.
Benefits package
Competitive medical, dental, and vision insurance, mental health offerings
Employee performance incentive plan
Salary Advancement – Merit increase based on performance
401(k) program with employer match
Time Off – Competitive PTO accrual plus 11 paid company holidays and your birthday off
RCU Discounts and Perks
RCU employees are eligible for a 0.75% discount off RCU standard collateral auto loans
RCU employees are eligible for a 1% discount on all recreational or boat loan products
2% discount off Visa and LOC Loans through RCU
0% interest loan to support employees with various immigration related expenses such as visa application fees and relocation costs. Loan amount up to $1,000
0% interest loan to support employees with expenses associated with the naturalization process. Loan amount up to $15,000
0% interest on garment, fitness, or home office equipment loan of up to $500
100% financing for employee purchased homes
Physical Requirements
Ability to stand, bend, stoop, sit, walk, twist, and turn
Ability to lift up to 20 pounds occasionally
Ability to use a computer keyboard, calculator, and telephone
Work environment is indoors, majority of time is spent sitting at a workstation
Ability to work efficiently and quickly in a fast-paced environment
Redwood Credit Union is not offering Visa transfers and/or sponsorships for this position
Equal Opportunity Employer We are an Equal Opportunity Employer
#J-18808-Ljbffr