Mortgage Processor I

About the Role

The Mortgage Processor I at Commonwealth Credit Union plays a crucial role in ensuring the smooth, accurate, and compliant processing of loans within the Mortgage Department. This role supports the entire loan journey from application to approval, prioritizing compliance with secondary market investor standards like Freddie Mac and the Federal Home Loan Bank (FHLB), alongside federal regulations like RESPA, TILA, and HMDA.

Key Responsibilities

• Serve as the primary contact for members applying for Home Equity Line of Credit (HELOC) loans, guiding them throughout the loan process with clarity and professionalism.
• Communicate effectively with management, peers, and various cross-functional teams to ensure transparency and collaboration in all loan-related activities.
• Calculate income using prescribed guidelines and manage the ordering of essential loan services such as credit reports and verifications.
• Verify accuracy and completeness of loan documents including income and credit records to prepare files suitable for underwriting.
• Process and originate HELOC loans by gathering necessary documentation and ensuring compliance, all while delivering a positive experience to members.
• Stay updated on current regulations and compliance requirements, completing mandated training and maintaining up-to-date National Mortgage Licensing System (NMLS) certification.
• Adhere to departmental policies, procedures, investor guidelines like Freddie Mac, and organizational overlays.
• Organize daily responsibilities to meet all compliance and loan processing deadlines efficiently and precisely.
• Maintain proficiency in mortgage operational software systems including MortgageBot POS/LOS, Meridian Link, and Servicing Director.
• Expand professional knowledge by attending relevant conferences, obtaining certifications, and engaging in internal and external learning and leadership development programs.

Additional Information

Registration with the National Mortgage Licensing System (NMLS) is mandatory for this position due to the nature of providing detailed information on Home Equity and Mortgage Loans. Candidates not currently registered will need to pass a background screening—which may exceed regular employment screening standards—to obtain registration.