Mortgage Production Assistant
Job Description
Assist Mortgage Origination Loan Officer with production and gain mortgage loan origination knowledge as trainee. Assist Loan Officer with tasks related to origination as directed which includes timely, accurate review of mortgage loan applications received through branch, phone and online application channels. Ensures applications meet secondary investor guidelines and that mortgage systems reflect accurate transaction specific details. Ensures member and related industry professionals receive prompt contact and are provided relevant transaction information. Responsible for effective and efficient loan application pipeline management.
Ensures that all member, realtor and builder contact is conducted with extreme professionalism. Support loan officers with the origination for long term, construction, lot, home equity and consumer credit loan products as needed or requested by manager. Understands and completes lending operations within applicable regulations. Provides support to branch and department staff, promoting Credit Union goals and objectives.
Responsibilities:
1. Assumes responsibility for production support for Loan Officers to effectively and professionally complete a variety of mortgage loan application review and pipeline management functions.
a Possesses knowledge and understanding of home loan products and property types as well as home loan related software systems including investor automated underwriting systems.
b. Support loan officers with an evaluation of initial loan application information. Reconciles application information to credit report and AUS findings. Analyzes member provided documentation including income. Works to resolve any conflicting data between sources. Ensures loan request meets investor documentation and underwriting guidelines. Pursues all possible loan alternatives including loan officers second review, when appropriate.
c. Enters additional information into Credit Union and mortgage processing system giving special attention to documenting conversations via electronic notes, early disclosure dates and loan progression statuses.
d. Promptly contacts members to discuss loan application, answer questions, convey documentation requirements, loan status and next steps so as to gain a shared understanding as directed by loan officer. Maintains contact within specified intervals and application progresses into the processing stage or loan request cancels.
e. Possesses an in depth understanding of interest rate lock policies and procedures. Able to thoroughly explain policies, discuss procedures and answer questions. Ensures rate lock protection requests are completed promptly in accordance with established policies and procedures.
f. As directed by loan officers promptly contact realtors or builders to discuss appropriate transaction details or maintain contact within specified intervals until loan closes or transaction cancels.
g. Proactively supports loan officer to cultivate and maintain positive realtor and builder relationships.
h. Completes pipeline management reports as specified by loan officer.
i. Ensures that every contact with Member, Realtor or Builder is fully documented and annotated in notes and the file reflects appropriate documentation.
j. Understands and completes lending operations in accordance with mortgage regulations both federal and state. Ensures that NCUA and established Credit Union policies, procedures and requirements are followed. Stays informed as to changes thereto.
2. Assumes responsibility for production assistance and support for the effective and professional completion of assigned mortgage loan origination functions.
a. Participates in Loan officer production with application documents and analyzes preliminary documentation for loan requests. Gain knowledge for alternative lending, credit criteria, interest rates and loan documentation. Explains mortgage process, time frames to expect and interest rate lock procedures thoroughly as directed by loan officer. All in such a manner as to elicit a shared understanding and positive responses from members.
b. Supports loan officer with initial application submission quality standard as well as member service and realtor survey expectations.
3. Promotes and supports the Loan Officer in establishing and maintaining effective and professional business relations with members, realtors, builders and mortgage industry professionals.
a. Responds to requests and questions promptly and courteously.
b. Counsels members regarding money management and financial matters as it relates to mortgage lending as directed by Loan Officer.
c. Projects the Credit Union's professional image by maintaining a clean, secure and well maintained desk/work area, and follows Credit Union dress code.
d. Stays informed regarding changes and trends in the local real estate and competitive lending market.
4. Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel and with management.
a. Coordinates and assists with production functions with related departments and branches, providing support as needed.
b. Functions as an essential constituent of branch and mortgage department teams.
c. Keeps Loan Officer and management informed of area activities and of any significant problems.
d. Attends and participates in meetings and committees as required.
e. Completes reports and paperwork accurately and promptly.
5. Assumes responsibility for related duties as required or assigned.
a. Actively and professionally cross-sells Credit Union services, stays informed of policies and requirements.
b. Stays informed on all pertinent legal and regulatory changes.
c. Completes special projects as assigned.
Qualifications:
Training/Education/Certification:
- High school graduate or equivalent.
- Complete MOLO Production Assistant training
- Complete required Development Center courses:
New Employee Orientation
Experience Required:
- Consumer lending experience.
- Familiarity of credit review and income analysis.
Skills/Abilities:
- Excellent verbal and written communication skills.
- Professional appearance, dress and attitude.
- Solid math skills.
- Ability to operate related computer and business equipment including copy machine, and telephone.
- Good typing skills.
- Willingness to assist others.
Knowledge and Experience to be Acquired as trainee:
- Thorough understanding of the foundation of determining credit worthiness.
- Knowledge of Credit Union and mortgage lending policies, procedures, products, processing, secondary market investor requirements, pricing and underwriting guidelines.
- Familiarity with title reports, insurance, and appraisals.Estimated Salary: $20 to $28 per hour based on qualifications.
Assist Mortgage Origination Loan Officer with production and gain mortgage loan origination knowledge as trainee. Assist Loan Officer with tasks related to origination as directed which includes timely, accurate review of mortgage loan applications received through branch, phone and online application channels. Ensures applications meet secondary investor guidelines and that mortgage systems reflect accurate transaction specific details. Ensures member and related industry professionals receive prompt contact and are provided relevant transaction information. Responsible for effective and efficient loan application pipeline management.
Ensures that all member, realtor and builder contact is conducted with extreme professionalism. Support loan officers with the origination for long term, construction, lot, home equity and consumer credit loan products as needed or requested by manager. Understands and completes lending operations within applicable regulations. Provides support to branch and department staff, promoting Credit Union goals and objectives.
Responsibilities:
1. Assumes responsibility for production support for Loan Officers to effectively and professionally complete a variety of mortgage loan application review and pipeline management functions.
a Possesses knowledge and understanding of home loan products and property types as well as home loan related software systems including investor automated underwriting systems.
b. Support loan officers with an evaluation of initial loan application information. Reconciles application information to credit report and AUS findings. Analyzes member provided documentation including income. Works to resolve any conflicting data between sources. Ensures loan request meets investor documentation and underwriting guidelines. Pursues all possible loan alternatives including loan officers second review, when appropriate.
c. Enters additional information into Credit Union and mortgage processing system giving special attention to documenting conversations via electronic notes, early disclosure dates and loan progression statuses.
d. Promptly contacts members to discuss loan application, answer questions, convey documentation requirements, loan status and next steps so as to gain a shared understanding as directed by loan officer. Maintains contact within specified intervals and application progresses into the processing stage or loan request cancels.
e. Possesses an in depth understanding of interest rate lock policies and procedures. Able to thoroughly explain policies, discuss procedures and answer questions. Ensures rate lock protection requests are completed promptly in accordance with established policies and procedures.
f. As directed by loan officers promptly contact realtors or builders to discuss appropriate transaction details or maintain contact within specified intervals until loan closes or transaction cancels.
g. Proactively supports loan officer to cultivate and maintain positive realtor and builder relationships.
h. Completes pipeline management reports as specified by loan officer.
i. Ensures that every contact with Member, Realtor or Builder is fully documented and annotated in notes and the file reflects appropriate documentation.
j. Understands and completes lending operations in accordance with mortgage regulations both federal and state. Ensures that NCUA and established Credit Union policies, procedures and requirements are followed. Stays informed as to changes thereto.
2. Assumes responsibility for production assistance and support for the effective and professional completion of assigned mortgage loan origination functions.
a. Participates in Loan officer production with application documents and analyzes preliminary documentation for loan requests. Gain knowledge for alternative lending, credit criteria, interest rates and loan documentation. Explains mortgage process, time frames to expect and interest rate lock procedures thoroughly as directed by loan officer. All in such a manner as to elicit a shared understanding and positive responses from members.
b. Supports loan officer with initial application submission quality standard as well as member service and realtor survey expectations.
3. Promotes and supports the Loan Officer in establishing and maintaining effective and professional business relations with members, realtors, builders and mortgage industry professionals.
a. Responds to requests and questions promptly and courteously.
b. Counsels members regarding money management and financial matters as it relates to mortgage lending as directed by Loan Officer.
c. Projects the Credit Union's professional image by maintaining a clean, secure and well maintained desk/work area, and follows Credit Union dress code.
d. Stays informed regarding changes and trends in the local real estate and competitive lending market.
4. Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel and with management.
a. Coordinates and assists with production functions with related departments and branches, providing support as needed.
b. Functions as an essential constituent of branch and mortgage department teams.
c. Keeps Loan Officer and management informed of area activities and of any significant problems.
d. Attends and participates in meetings and committees as required.
e. Completes reports and paperwork accurately and promptly.
5. Assumes responsibility for related duties as required or assigned.
a. Actively and professionally cross-sells Credit Union services, stays informed of policies and requirements.
b. Stays informed on all pertinent legal and regulatory changes.
c. Completes special projects as assigned.
Qualifications:
Training/Education/Certification:
- High school graduate or equivalent.
- Complete MOLO Production Assistant training
- Complete required Development Center courses:
New Employee Orientation
Experience Required:
- Consumer lending experience.
- Familiarity of credit review and income analysis.
Skills/Abilities:
- Excellent verbal and written communication skills.
- Professional appearance, dress and attitude.
- Solid math skills.
- Ability to operate related computer and business equipment including copy machine, and telephone.
- Good typing skills.
- Willingness to assist others.
Knowledge and Experience to be Acquired as trainee:
- Thorough understanding of the foundation of determining credit worthiness.
- Knowledge of Credit Union and mortgage lending policies, procedures, products, processing, secondary market investor requirements, pricing and underwriting guidelines.
- Familiarity with title reports, insurance, and appraisals.Estimated Salary: $20 to $28 per hour based on qualifications.
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