Mortgage Processor

  • Michigan Schools and Government Credit Union
  • 4555 Investment Drive, Troy, MI, USA
  • Nov 23, 2021
Full time Banking Finance General Business Other Professional Services

Job Description

Overview of Responsibilities: Performs all mortgage loan processing activities including: receiving, evaluating, and reviewing loan applications; obtaining and verifying necessary information; preparing documents for underwriting and closing review; and communicating loan status to all involved parties.

Essential Duties and Responsibilities:

  • Reviews loan application files to ensure compliance with disclosure requirements.
  • Verifies applicant information including employment, salary, assets, and liabilities. 
  • Orders appraisals, credit reports, title reports, and other essential documentation.
  • Reviews information for completeness and accuracy to ensure all necessary items are available for underwriting. Clarifies missing or questionable information and follows up with outside sources for outstanding documents.
  • Tracks files as information is compiled to ensure compliance with underwriting guidelines. Keeps files organized and submits to underwriting after ensuring all conditions have been met.
  • Assists members in resolving conditions of underwriting. 
  • Keeps appropriate parties informed of MSGCU policies and procedures and assists Mortgage Consultants in communicating status of loans to parties involved in the transaction. 
  • Resolves (or refers) requests and problems promptly and courteously. 
  • Reviews loan documentation to adhere to secondary market guidelines.
  • Obtains Private Mortgage Insurance (PMI) on files when necessary and requests subordinations.
  • Works closely with Mortgage Closers and coordinates closings with all parties on purchase transactions. 
  • Effectively cross-sells MSGCU products and services by explaining features and benefits and matching to members’ needs.

Essential Knowledge, Skills, and Abilities:

  • Member Focus: Uses active listening skills to gain understanding and determine the needs of others in order to help members achieve their financial objectives and deliver a member-focused mortgage experience.
  • Action Oriented: Takes on new opportunities and tough challenges with a sense of urgency and enthusiasm. Possesses strong organizational skills and ability to manage multiple responsibilities simultaneously in a fast-paced environment.                                                                                       
  • Communicates Effectively: Effectively communicates about the mortgage lending processes to audiences with varying needs and abilities.
  • Instills Trust: Builds relationships and gains the confidence of others by modeling honesty, integrity, authenticity, and behaviors that align with organizational values. Exemplifies courage by stepping up to address difficult issues.
  • Self-Development: Actively seeks new ways to grow and be challenged using formal and informal development channels.
  • Proficient with Microsoft Office software products (Word, Excel, PowerPoint, Outlook) and the ability to operate standard office equipment.
  • Familiarity with secondary mortgage market guidelines and documentation requirements.

Essential Preparation and Experience:

  • High school diploma or GED; and
  • 2 years of mortgage banking experience or relevant lending experience in other roles, Federal Housing Administration (FHA) lending experience preferred.

Working Conditions:

  • Office and branch location environment with little discomfort from noise, extreme temperature, dust, or other factors.
  • Occasionally required to travel throughout MSGCU's service area as business needs require.
  • Exposed to potentially hazardous conditions, such as robbery. Receives detailed instructions and security procedures on an annual basis to minimize risk.
  • This work involves sitting most of the time with brief periods of walking or standing and may occasionally require lifting and/or moving up to 10 pounds.
  • Normal working hours will be MSGCU’s standard branch and administrative office hours of operation, however, periodic weekends and/or before/after normal office hours will be required.