Job Description
Role:
To approve or deny mortgage and home equity applications, following Credit Union standards as well as secondary market guidelines.
Essential Functions & Responsibilities:
- Reviews and evaluates all information on mortgage and home equity application documents to determine if the borrower, property, and loan conditions meet Credit Union and secondary market lending standards.
- Approves or rejects loan applications and/or requests additional required documentation/information in compliance with Align policy procedures, and guidelines.
- Knows, understands and adheres to all regulatory requirements related to financing on Residential property including, but not limited to HMDA, ECOA, TILA/RESPA, TRID, and Fair Lending.
- Assists in daily pipeline management to ensure that deadlines are met. This includes working closely with the Processing, Originations and Closing teams to ensure that loans are moving through the pipeline in a timely manner to meet rate lock expiration, mortgage commitment and closing dates as well as department turn-time standards.
- Prepares approval, denial, and counteroffer notices in a clear and concise manner so that all applicants are provided with loan decisions that are meaningful and easy to understand. Ensures that all conditions, denial reasons, and counteroffer terms are presented in a manner that is easy to understand to the borrowers.
- Serves as a resource to originators, processors and branch staff with questions regarding processing and member eligibility for mortgage financing.
- Stays up to date with all secondary market and investor guidelines as well as all Private Mortgage Insurance guidelines.
- Performs other job-related duties as assigned.
This position is a hybrid position and requires one-two days in-person per week in Lowell, MA.