Mortgage Processor I/II/III

Overview

To process first mortgage loans in accordance with applicable federal/state laws, as well as Navy Federal's policies and procedures. Assume responsibility as the point person and coordinate processing the loan file from the time of warm handoff from loan origination through disposition. Responsible for gathering and reviewing required member and third-party documentation for accuracy in meeting loan requirements. Ensure timely review and submission to underwriting and closing partners in compliance with Navy Federal and regulatory guidelines. Complete any necessary follow up steps and communicate loan status with the member and other involved parties while ensuring clear and concise documentation of statuses are updated as the loan progresses through the loan origination system. Manage process flow and deliverables in order to meet the member's expected closing date. To perform highly complex mortgage processing functions independently with considerable discretion. Assist in guiding/training less experienced team members. May serve as a subject matter expert and respond to escalated, complex, sensitive, and/or urgent inquiries.

Responsibilities

• Process first mortgage loans in accordance with applicable federal/state laws, as well as Navy Federal's policies and procedures
• Establish and maintain contact with members and external third parties, such as real estate agents (if/when applicable); to guide and follow mortgage loan process from warm handoff by loan officer through loan closing process
• If changes to the loan occur during the course of processing the loan, such as appraisal amount or financial circumstances, processor will continue to qualify applicants as necessary; may interview and counsel members regarding mortgage loan products and make adjustments accordingly
• Provide detailed mortgage information to members regarding mortgage requirements, products, related services, policies & rates
• Clarify complexities of the mortgage/equity loan process
• Evaluate, personalize, and recommend financing alternatives
• Obtain, review and verify mortgage applications have required loan documentation, such as title insurance, appraisals, loan applications, credit reports, and income and asset declarations are accurate and provided promptly to underwriters for loan approval
• Request and obtain any additional documentation needed from the member to meet loan requirements
• Evaluate loan documentation, calculate income, review assets, analyze liabilities, and clear conditions per delegated authority
• Validate automated underwriting decision per delegated authority
• Ensure progress and inclusion of required mortgage processing information
• Monitor mortgage loan process and ensure compliance with Federal laws, as well as, Navy Federal, NCUA and secondary market practices, guidelines and regulations; apply and communicate changes impacted by related regulatory requirements, practices and legislation updates
• Determine and advise members on approved loan conditions and documentation requirements
• Communicate and document loan decisions so that involved parties are well-informed
• Ensure loans are compliant with RESPA guidelines prior to submission for quality assurance review and closing
• Coordinate settlement dates with members, attorneys, and realtors
• Reconcile changes, revisions and corrections with closing agents and settlement attorneys to ensure accurate and efficient processing of mortgage loans
• Analyze, research, and resolve discrepancies, problems & issues related to member accounts/loans; may require additional interaction with members, other staff and outside contacts for completion
• Prepare and review loan activity reports to effectively track status updates, provide pipeline metrics and quickly identify/address items in need of attention
• Perform other duties as assigned

Qualifications

• Extensive experience in working in a high volume, fast paced environment
• Advanced knowledge of Real Estate Lending systems, policies, procedures, practices and/or actions
• Advanced knowledge of mortgage/equity loan processing, closing and documentation requirements and regulations
• Significant experience in financial transaction/processing related responsibilities
• Significant experience in member/customer service preferably in a call center/retail banking/financial institution
• Advanced knowledge of financial institution and lending practices, principles and regulations
• Extensive experience in managing multiple priorities independently and/or in a team environment to achieve goals
• Ability to work effectively and efficiently with automated systems
• Incumbent will be required, prior to the assumption of employment duties, to register with the Nationwide Mortgage Licensing System and Registry; includes fingerprinting and background checks
• Effective word processing and spreadsheet software skills
• Expert skill maintaining accuracy with attention to detail and meeting deadlines
• Expert research, analytical, and problem-solving skills
• Expert skill exercising initiative and using good judgment to make sound decisions
• Advanced verbal and written communication skills
• Expert skill performing mathematical calculations and working accurately with numbers

Desired Qualification(s)

• Expert knowledge of Navy Federal's functions, philosophy, operations and organizational objectives
• Expert knowledge of Navy Federal products, services, programs, policies and procedures
• Familiarity with Empower LOS system is a plus

Hours: Monday - Friday, 8:30AM - 5:00PM

Locations: 9999 Willow Creek Road, San Diego, CA 92131

About Us

You have goals, dreams, hobbies, and things you're passionate about-what's important to you is important to us. We're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them-friends, family, and passions. And we're looking for team members who are passionate about our mission-making a difference in military members' and their families' lives. Together, we can make it happen. Don't take our word for it:* Military Times 2022 Best for Vets Employers* WayUp Top 100 Internship Programs* Forbes 2022 The Best Employers for New Grads* Fortune Best Workplaces for Women* Fortune 100 Best Companies to Work For* Computerworld Best Places to Work in IT* Ripplematch Campus Forward Award - Excellence in Early Career Hiring* Fortune Best Place to Work for Financial and Insurance ServicesEqual Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/DisabilityDisclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team's discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market positionBank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.