Financial Center First Credit Union
Mortgage Loan Coordinator
Financial Center First Credit Union, Indianapolis, Indiana, us, 46262
POSITION TITLE: Mortgage Loan Coordinator
REPORTS TO: AVP, First Mortgages
PAY GRADE: 8
DEPARTMENT: Production
FLSA STATUS: Non-Exempt
LOCATION: Hybrid
PURPOSE: The primary purpose of this position is to fulfill Financial Center First CU’s (FCFCU) vision of inspiring financial wellness. The position must deliver exceptional quality service to both internal and external members by supporting and promoting our values to Care, Listen, Learn, Solve, and Act.
This role assumes responsibility as the point person and coordinator of mortgage loan files, from initial processing through post-closing. The Mortgage Loan Coordinator gathers and reviews required, member and third-party, documentation for accuracy in meeting loan requirements, coordinates with various stakeholders, ensures compliance with all regulatory requirements, and prepares all necessary documents for loan disclosures and closings.
ESSENTIAL DUTIES:
Ensures an exceptional member experience by being the point person during the loan process from origination handoff through post-closing and providing communication throughout the transaction to the borrower and all stakeholders in the transaction. This includes but is not limited to; mortgage loan sales, title companies, attorneys, real estate agents and notaries.
Process, close and fund first mortgage loans in accordance with all applicable federal, state, Investor requirements as well as FCFCU’s policies and procedures
If changes to the loan occur during processing, such as appraisal amount or financial circumstances, coordinator will continue to re-qualify applicants as necessary
Provide detailed mortgage information to members regarding mortgage requirements, products, related services, policies & rates
Verify the accuracy of loan data entered into the Loan Origination System (LOS) and review Automated Underwriting System (AUS) findings to determine items needed of the loan file.
Ensure quality member service by maintaining current and thorough knowledge of lending programs, policies, procedures and regulatory requirements, demonstrating a commitment to professional ethics, complying with all Federal and State compliance policies and adhering to HMDA requirements
Coordinate loan signing with all parties including seller, member, title company, etc.
Prepare closing disclosures and document package and deliver to borrower and appropriate closing agent while ensuring compliance with applicable regulations and guidelines
Perform post-closing review to ensure all closing and funding tasks are complete and accurately deliver loans to the secondary market in a compliant and timely manner while ensuring rate lock commitment has not expired
Identifies opportunities to cross-sell additional Credit Union and CUSO products and
services to members, that will benefit the member’s financial life
Attends and completes all FCFCU required training including classes on or prior to due dates
Performs other duties as assigned
REQUIRED BACKGROUND:
Associate’s Degree in Business, Finance, Accounting or related field of study preferred. Will accept any suitable combination of education, experience, and/or training
Minimum of 3 years of mortgage banking experience in areas of loan origination, closing or processing preferred.
Prior knowledge of mortgage loan products preferred (conventional, FHA/VA, construction lending and portfolio programs)
Understanding of related mortgage lending legal and regulatory standards (i.e. Regulation Z and X, RESPA, SAFE Act, HMDA and other related regulations) and required loan documentation.
Familiarity with underwriting guidelines, title reports, insurance, and appraisals.
Attention to detail and skilled at maintaining accuracy. Strong research, analytical, and problem-solving skills
Ability to adapt quickly and work efficiently under pressure in a fast-paced environment with multiple tasks and meeting deadlines
Effective at exercising initiative and using good judgment to make sound decisions
Strong organizational, verbal and written communication, and time-management skills.
Skilled at performing mathematical calculations and working accurately with numbers
Proficient with various technology platforms (Microsoft Word, Excel, Outlook, Adobe, etc.)
Familiarity with Loan Origination systems is a plus
LICENSES, CERTIFICATIONS, REGISTRATIONS
Ability to obtain NMLS number. The Secure and Fair Enforcement for Mortgage Licensing (S.A.F.E) Act improves supervision and transparency in the residential mortgage markets. Registration on the Nationwide Mortgage Licensing System and Registry (NMLS) will be required prior to processing of mortgage loans.
WORK ENVIRONMENT:
PHYSICAL REQUIREMENTS
Is able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in an emergency situation. Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours or travel off site whenever required or requested by management. Must be capable of regular, reliable and timely attendance.
WORKING CONDITIONS
Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.
MENTAL AND/OR EMOTIONAL REQUIREMENTS
Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to complete basic mathematical calculations, spell accurately, and understand computer basics. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.
REPORTS TO: AVP, First Mortgages
PAY GRADE: 8
DEPARTMENT: Production
FLSA STATUS: Non-Exempt
LOCATION: Hybrid
PURPOSE: The primary purpose of this position is to fulfill Financial Center First CU’s (FCFCU) vision of inspiring financial wellness. The position must deliver exceptional quality service to both internal and external members by supporting and promoting our values to Care, Listen, Learn, Solve, and Act.
This role assumes responsibility as the point person and coordinator of mortgage loan files, from initial processing through post-closing. The Mortgage Loan Coordinator gathers and reviews required, member and third-party, documentation for accuracy in meeting loan requirements, coordinates with various stakeholders, ensures compliance with all regulatory requirements, and prepares all necessary documents for loan disclosures and closings.
ESSENTIAL DUTIES:
Ensures an exceptional member experience by being the point person during the loan process from origination handoff through post-closing and providing communication throughout the transaction to the borrower and all stakeholders in the transaction. This includes but is not limited to; mortgage loan sales, title companies, attorneys, real estate agents and notaries.
Process, close and fund first mortgage loans in accordance with all applicable federal, state, Investor requirements as well as FCFCU’s policies and procedures
If changes to the loan occur during processing, such as appraisal amount or financial circumstances, coordinator will continue to re-qualify applicants as necessary
Provide detailed mortgage information to members regarding mortgage requirements, products, related services, policies & rates
Verify the accuracy of loan data entered into the Loan Origination System (LOS) and review Automated Underwriting System (AUS) findings to determine items needed of the loan file.
Ensure quality member service by maintaining current and thorough knowledge of lending programs, policies, procedures and regulatory requirements, demonstrating a commitment to professional ethics, complying with all Federal and State compliance policies and adhering to HMDA requirements
Coordinate loan signing with all parties including seller, member, title company, etc.
Prepare closing disclosures and document package and deliver to borrower and appropriate closing agent while ensuring compliance with applicable regulations and guidelines
Perform post-closing review to ensure all closing and funding tasks are complete and accurately deliver loans to the secondary market in a compliant and timely manner while ensuring rate lock commitment has not expired
Identifies opportunities to cross-sell additional Credit Union and CUSO products and
services to members, that will benefit the member’s financial life
Attends and completes all FCFCU required training including classes on or prior to due dates
Performs other duties as assigned
REQUIRED BACKGROUND:
Associate’s Degree in Business, Finance, Accounting or related field of study preferred. Will accept any suitable combination of education, experience, and/or training
Minimum of 3 years of mortgage banking experience in areas of loan origination, closing or processing preferred.
Prior knowledge of mortgage loan products preferred (conventional, FHA/VA, construction lending and portfolio programs)
Understanding of related mortgage lending legal and regulatory standards (i.e. Regulation Z and X, RESPA, SAFE Act, HMDA and other related regulations) and required loan documentation.
Familiarity with underwriting guidelines, title reports, insurance, and appraisals.
Attention to detail and skilled at maintaining accuracy. Strong research, analytical, and problem-solving skills
Ability to adapt quickly and work efficiently under pressure in a fast-paced environment with multiple tasks and meeting deadlines
Effective at exercising initiative and using good judgment to make sound decisions
Strong organizational, verbal and written communication, and time-management skills.
Skilled at performing mathematical calculations and working accurately with numbers
Proficient with various technology platforms (Microsoft Word, Excel, Outlook, Adobe, etc.)
Familiarity with Loan Origination systems is a plus
LICENSES, CERTIFICATIONS, REGISTRATIONS
Ability to obtain NMLS number. The Secure and Fair Enforcement for Mortgage Licensing (S.A.F.E) Act improves supervision and transparency in the residential mortgage markets. Registration on the Nationwide Mortgage Licensing System and Registry (NMLS) will be required prior to processing of mortgage loans.
WORK ENVIRONMENT:
PHYSICAL REQUIREMENTS
Is able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in an emergency situation. Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours or travel off site whenever required or requested by management. Must be capable of regular, reliable and timely attendance.
WORKING CONDITIONS
Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.
MENTAL AND/OR EMOTIONAL REQUIREMENTS
Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to complete basic mathematical calculations, spell accurately, and understand computer basics. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.