Mortgage Loan Processor

HOPE Overview

HOPE (Hope Enterprise Corporation, Hope Credit Union and Hope Policy Institute) provides financial services; leverages resources; and engages in advocacy that strengthens the financial health of people in under-resourced Deep South communities. Since 1994, these efforts have benefited more than three million people in Alabama, Arkansas, Louisiana, Mississippi and Tennessee, and influenced billions in persistent poverty communities across the nation. Learn more at https://www.hopecu.org.

Title: Mortgage Loan Processor

Department: Mortgage Processing

Reports To: AVP Mortgage Processing Manager

Supervises: N/A

Job Classification: Full-time, Non-Exempt

Location: Birmingham, AL (Hybrid)

Job Summary

The Mortgage Loan Processor is responsible for processing loan files by verifying the information the applicants supply on the application, documenting it in accordance with the terms and conditions of the loan approval, and providing the information necessary for the closing of the mortgage loan. This involves the verifying of the applicant's income, assets, liabilities and collateral value. It may also involve gathering additional documentation required to qualify applicant for various grant programs.

Primary and Essential Functions

• Review the file received from the loan officer for necessary documentation and disclosures
• Collecting and verifying the necessary information and documents for a loan application, such as income verification, bank statements, tax returns, appraisal, etc.
• Thorough knowledge and understanding of agency (Fannie Mae, Freddie Mac) and portfolio guidelines.
• Knowledge of federal and state mortgage lending regulations.
• Review the file input in mortgage software and any grant-specific software.
• Ability to adhere to tight deadlines and work effectively under pressure.
• Follow-up on any documentation that has not been received, including ordering the appraisal, FHA/VA case numbers, and alternative documentation if required, etc.
• Follow-up on any grant-specific documentation that is needed.
• Order Credit Alert Interactive Voice Response System (CAIVRS), check Limited Denial of Participation (LDP)/General Services Administration (GSA) exclusionary lists.
• Evaluate documentation received for correctness and completeness.
• Prepare and submit all loan files to the loan underwriter for a credit decision.
• Complete information necessary for the closing of the loan by making sure the closing date is on the shared calendar, flood certifications are in the file, and evidence of all insurances (HOI, wind/hail, flood, etc.). Checking all insurance policies for adherence to product guidelines.
• Follow up on any additional requirements or conditions requested by the loan underwriter.
• Provide excellent internal and external customer service.
• Create strong and lasting relationships with clients and referral partners.
• Ability to work collaboratively and as a liaison for the loan officer, underwriter, closer, settlement agent, and real estate agent (if applicable) on all loan files.
• Perform general administrative duties such as attending meetings, report production, etc.
• Complete all tracking data of the loan file in the mortgage loan software.
• Communicate effectively with the loan officer throughout the loan cycle to ensure closing deadlines are met.
• Work with other departments as needed on projects related to the mission of HOPE.

Regulatory Compliance Requirements

• Must comply with registration requirements with National Mortgage Licensing System (NMLS)
• Must comply with provisions of the Bank Secrecy Act (BSA).
• Must comply with the provisions of the Privacy of Consumer Financial Information regulations.
• Must comply with the provisions of the Right to Financial Privacy Act.
• Must comply with the provisions of the Equal Credit Opportunity Act (Regulation B).
• Must comply with the provisions of the Fair Credit Practice Rule.
• Must comply with the provisions of the Fair Credit Reporting Act.
• Must comply with the provisions of the Fair Housing Act.
• Must comply with the provisions of the Flood Disaster Protection Act.
• Must comply with the provisions of the Home Mortgage Disclosure Act (Regulation C).
• Must comply with the provisions of the Homeowners Protection Act.
• Must comply with the provisions of the National Flood Insurance Act.
• Must comply with the provisions of the Real Estate Settlement Procedures Act (Regulation X).
• Must comply with the provisions of the Servicemembers' Civil Relief Act.
• Must comply with the provisions of the Truth in Lending Act (Regulation Z).
• Must comply with the provisions of the Mortgage Disclosure Information Act.
• Must comply with the provisions of Appraisal Independence Interim Final Rule
• Must comply with the Interagency Appraisal and Evaluation Guidelines
• Must comply with the Dodd-Frank Act
• Must comply with the Consumer Financial Protection Bureau

Accountability for Business Results

• Timeliness and quality of the loan process
• Loan closing cycle time
• Timeliness of grant funding

Specified Authority Level

• Run Desktop Underwriter
• VA/FHA Connection
• Approve HUD-1 Form for grant closings
• Approve loans for grant compliance according to program guidelines

Qualifications

Required

• A minimum of three years of recent experience in residential mortgage loan processing

Preferred

• Demonstrated strength in the ability to manage multiple projects at once while maintaining appropriate attention to details
• A bachelor's degree in finance or a relevant field is preferred.

Competencies/Skills

• Excellent Customer Service, written and verbal communications skills
• Keen analytical skills
• Working knowledge of word processor, spreadsheet, other PC applications, or mainframe applications to produce non-standard, creative products
• Ability to read and interpret documents, write routine reports and correspondence
• Ability to compute rate, ratio, percent, and interpret data
• Ability to effectively use DU/Total Scorecard & GUS
• Ability to apply commonsense understanding to carry out detailed but uninvolved written or oral instructions
• Ability to deal with problems involving a few concrete variables in standardized situations
• Knowledge of regulations and requirements of investors, federal regulations and compliance in mortgage lending

Work Environment:

• Employee spends the majority of time in an office environment, generally accessible to the public, customers, and potential customers
• Noise level in the work environment is usually moderate
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• Hybrid work option is available

Physical Demands:

• Employee is regularly required to sit, stand, and walk.
• Employee will use hands to finger, handle, or feel, reach with hands and arms, and talk or hear.
• Employee must regularly lift and move up to 10 pounds and frequently lift and/or move up to 25 pounds.
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Comprehensive Benefits Package:

• Paid Vacation and Sick Time
• 11 Paid Holidays
• 401(k) with Company Match
• Medical, Dental, and Vision Benefits
• Flexible Spending Account (FSA)
• Disability Benefits
• Life Insurance, Critical Illness, Accident
• Employee Assistance Program (EAP)
• Tuition Reimbursement, Professional Development

Hope Enterprise Corporation does not participate in or engage in any form of visa sponsorship, including employment-based visa applications or extensions (e.g., H-1B, TN, O-1, OPT, STEM OPT, etc.). Candidates must be legally authorized to work in the United States at the time of application and throughout the duration of employment.

We are an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.