Loan Processor I
Loan Processor I
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Job Description
Job Details
Description
Life at Amplify
As a growing tech-focused credit union Amplify Credit Union delivers value to our members through our products and impact to our community through our profits. That unique intersection is one reasonweve been named a Top Workplaceby theAustin American-Statesmansix years in a row.Were also proud to say that were the only full-service financial institution thatdoesnt have deposit fees of any kind. Were looking for teammates who are inspired byour missionand ready togrow their careers. As they do our employees can expect Amplify to uphold our commitments toculture community inclusion and more.
Position Summary
The Processor I is responsible for the timely review of loan documentation to ensure accuracy completeness and compliance with internal regulatory private mortgage insurance and investor guidelines in order to meet quality and service standards. The role evaluates all information supplied on the loan application verifies the validity of the information and assembles a completely documented file to Underwriting and Closing. This role focuses on Home Equity Loans and Home Equity Lines of Credit as well as Third Party Lending loans. Works closely with the Home Loan Production team to ensure an accurate and timely loan process and communicates effectively to support a quality member service experience.
RESPONSIBILITIES include the following. Other duties as assigned.
- Follows procedures to efficiently and accurately process home loan products at a quality level consistent with established FNMA Private Mortgage Insurance and internal Credit Union guidelines as well as meeting all regulatory requirements including NCUA and CFPB
- Maintains a pipeline of loans ensuring the compliant and timely flow of loans through the process
- Monitors and ensures closing dates and company deadlines are met
- Reviews loan files for completeness upon receipt and updates data in the system of record as needed prior to submitting to Underwriting; ensures all documentation necessary to obtain a loan approval has been received reviewed updated in the system of record and imaged
- Verifies accuracy of all information provided by borrowers through verbal or written verification processes including but not limited to: income assets employment liabilities and residency
- Satisfies all underwriting conditions and prepares the file for submission to the Closing department
- Works with third party vendors to complete documentation requirements to support property collateral including but not limited to: title companies appraisal management/property evaluation companies Realtors attorneys survey companies
- Works with Credit Reporting vendors to complete documentation related to credit review
- Monitors rate lock information for data integrity and expiration dates; appropriately communicates to Loan Originator
- Verifies completion of all HMDA information prior to final disposition of loan application including but not limited to: income assets employment liabilities and residency
- Ensures all required re-disclosures are performed in the event of a changed circumstance
- Maintains consistent communication with members throughout the loan process assisting them with questions including updates on loan status and notifying them of additional requirements
- Acts as a liaison between the Loan Originator members Realtors and title company
- Keeps abreast of changes in policy procedure guidelines and regulations applicable to the Credit Union and the mortgage industry via various learning/information channels; understands and applies local state and federal regulations related to processing loans
- Provides excellent customer service by effectively communicating and cooperating with all internal and external stakeholders
- Acts as a backup for other functions in the department and provide training as assigned
- Verifies and tests for accuracy and efficiency all processes and procedures related to mortgage processing activities; suggests changes to support organizational effectiveness
- Upholds credit union policies and procedures and champions organizational culture both internally and externally
Supervisory Responsibilities
This job has no supervisory responsibilities.
Qualifications
To perform this job successfully an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience
High school diploma or general education degree (GED) required. Bachelors degree in business or related field preferred. Prefer 1 year of experience in the mortgage industry and knowledge of Texas Home Equity Loan processes.
Certificates Licenses Registrations
Must be bondable.
Software and Equipment Requirements
To perform this job successfully an individual should have knowledge and be efficient with the use of a personal computer Microsoft Office products Credit Bureau Systems financial calculators DU Doc Magic Optimal Blue and Encompass.
Must have reliable internet access of 50MBPS which is the minimum speed required to connect to several of our systems and platforms.
Other Qualifications
Must have excellent judgment skills to make quick decisions within written policy and standard operating procedures and must be extremely detail oriented and accurate while processing high volumes of files
Must have or quickly obtain working knowledge of the credit unions products and services (including the Home Equity Loan product and processes) policies and the Federal Credit Union Act including bylaws and regulations that apply to federally chartered credit unions
Ability to understand Standard Operating Procedures and familiarity with state and federal NCUA regulations are required; additional regulations the employee should understand include but are not limited to: HMDA the Dodd-Frank Act Regulation Z Regulation B the FHLMC FNMA FHA and TRID rules and processes.
What We Offer
To build a better bank you must build a better team. Thats why were committed to offering the best benefits to our team members. We want your time at Amplify to be a jumping-off point for personal and professional success and this means offering benefits including paid volunteer hours and development programs that will engage your role in our community.
- Medical Dental and 401(k) programs for team members.
- Customized volunteer opportunities with our signature partners (Saint Louise House).
- Additional paid time off for volunteer-related activities.
- Undergraduate and graduate tuition benefits for eligible full-time and part-time team members.
Starting Pay & Benefits
This role offers base pay of $21 - $25.71 plus a monthly incentive. It also entails thebenefits available to all Amplify employees including a 401(k) with a company match of 100% on the first 5% you contribute.
Location
This remote role is available to candidates living in any of the following states: Alabama Arizona Arkansas Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Nebraska New Hampshire New Mexico North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania South Carolina Tennessee Texas Vermont Virginia West Virginia Wisconsin.
Team Member Testimonials
Read about some of your potential coworkers andwhy they enjoy working at Amplify.Or check us out onComparably.
Amplify is an Equal Employment Opportunity Employer seeking people from all backgrounds life experiences and world views. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.
Employment Type
Full-Time
