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 moderately complex mortgage processing functions under supervision. 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 Experience in working in a high volume, fast paced environment Familiarity with Real Estate Lending systems, policies, procedures, practices and/or actions Familiarity with mortgage/equity loan processing, closing and documentation r
