Job Information
Wright-Patt Credit Union Inc. Mortgage Loan Coordinator I in Beavercreek, Ohio
The Mortgage Loan Coordinator I uses expertise in the preparation and processing of conventional mortgage loans under various loan programs in accordance with investor guidelines for completeness, accuracy and compliance while providing our partner credit unions with a thrilling, five-star service experience.
Pre-underwrites loan files by obtaining and assembling complete loan packages for underwriting. Analyzes and records all incoming documents for compliance with loan eligibility. Verifies and validates supporting income, assets and liabilities. Reviews and verifies credit reports, credit supplements, property appraisals and title documents. Validates and/or updates data for accurate and complete mortgage applications. Identifies and anticipates additional conditions that the underwriter may require. Reviews a minimum number of files per day as determined by management to meet allotted turn times. (30%)
Verifies documentation provided by partner credit unions to clear outstanding conditions required by the underwriter. The MLC has the ability to clear a subset of conditions approved by management. The MLC is also permitted to clear a loan to close once all conditions are met. Reviews a minimum number of files per day as determined by management to meet allotted turn times. Maintains current and fluid knowledge of investor guidelines. Ensures proper policies, procedures, risk mitigation activities, and operating controls are followed. Reports gaps in policies, procedures, and operating controls to leadership to ensure member impact and risk is mitigated. (30%)
Provides expert guidance and thrilling, five-star service to myCUmortgage experts and partner credit unions. Develops and maintains a vast knowledge of multiple loan product guidelines for quick and accurate answers to partner credit unions. Maintains open and proactive communication with partner credit unions to ensure proper and timely processing and submission of mortgage files. The MLC is the main contact throughout the entire loan process until the loan is cleared. The Partner Credit Union contacts the MLC with any questions throughout the process, and the MLC is the main contact for the title company and AMC. Communicates and explains underwriting conditions in easy-to-understand terms for partner credit unions. Provides status updates on each mortgage-indicating process to partner credit unions. (20%)
Reviews loans for compliance within all state and federal mortgage-related regulations (e.g., RESPA, TILA, HMDA, Reg B, KBYO, QM, etc.). Validates and/or updates data for accurate and complete mortgage applications. Ensures system input is accurate, that LOS data matches the Automated Underwriting System and all required ULDD fields are complete and accurate. (20%)
Required Skills
The Mortgage Loan Coordinator I possesses the following knowledge and skills:
A high school diploma or equivalent is required.
Minimum of three years’ previous experience with pre-underwriting first mortgage loans or underwriting of home equity loans is required.
Demonstrated ability to provide thrilling, five-star service to partner credit unions.
Demonstrated ability to analyze credit reports, automated underwriting decisions, property appraisals, title commitments, purchase agreements and other mortgage-related documents as well as prepare mortgage closing packages.
Excellent telephone manners and techniques.
Demonstrated ability to learn and adhere to federal and state regulations/laws as they pertain to mortgage lending.
Must be familiar with Microsoft Office products.
Required Experience