What are the responsibilities and job description for the Home Equity Loan Processor position at Telhio Credit Union?
We are currently looking for a Home Equity Loan Processor to join our team in the Central Ohio or Southwest Region in providing extraordinary service to our membership, community and to the team.
The Home Equity Processor processes home equity applications in accordance with Federal and State Guidelines; this includes, but is not limited to: compliance with underwriting guidelines for portfolio products. Effective positive communication is essential with members, vendors and other staff. Coordination of loan closing between member and title company/branch staff, while meeting closing deadlines. Home Equity Processor works with Lending Consultants, underwriting and title company. This function provides the credit union member the vehicle to obtain mortgage financing and is critical to the credit union’s objective of providing Home Equity Accounts. Ability to maintain confidentiality of all member account information and information is mandatory.
Responsibilities:
- Evaluates Home Equity Loan received Direct Sales Channels (MSR’S, LSR’s and Lending Consultants) Also initiates the request for Third Party Vendor reports
- Reviews loan application information for completeness
- Orders Appraisal – verifies for accuracy
- SSA Verification - verifies data output - Sends forms with disclosures
- Completes employment verification check
- Orders title search – verifies for accuracy and there are no liens or second mortgages
- Mail Appraisal to Member within 3 business days of receipt from Appraisal Company, after underwriting approval
- Collects and Works with member to clear stipulations Loan file back to LC/LO if member is unresponsive to disclosures/stips
- Collects HO insurance – verifies accuracy, current and adequate coverage for 1st and 2nd mortgage loan amount.Mortgagee clause to be updated
- Closing Coordination
- Ensures timely delivery of loan documents to appropriate branch location
- Documents appropriately the Conversation log within Encompass and the Home Equity Processor report
- Coordinates effectively closings with outside title companies
- Works with member to clear stipulations
- Compliance Notifications/ Home Equity Loans / Loan Restructuring
- Compliance with all applicable Telhio policies and procedures (internal controls) and Federal, State and Local regulations applicable
Qualifications:
- High School graduate or G.E.D.
- Home equity loan knowledge
- 2nd Mortgage knowledge
- Understanding of 1st Mortgage
- Must acquire NMLS#
- Working knowledge of legal documents related to loans
- Effective communication skills (oral and written)
- Analytical thought process
- Knowledge of Telhio's Loan Policy
- Willing to work overtime some weekends required
- Telhio applicants must be able to pass a background check including: Credit, Drug Screen, Bondability, & Criminal Background
- Must have a valid/unexpired driver's license
About Telhio
Telhio is a full service credit union offering our members online banking, mobile apps, savings accounts, mortgages, and auto loans. The credit union philosophy is helping people versus making a profit, earnings are returned to the member-owners as higher savings rates, lower loan rates, lower fees, more convenient locations, new services, dividends, and more.
We provide Health, Dental, Vision Disability, & Life insurance, complemented by incentive programs for employees enrolled in our Health insurance. We offer a matching, immediately vested 401(k) plan. Our generous schedule for paid holidays, vacation and personal time allow you the flexibility you need to maintain work-life balance; and we also offer employee training and an Employee Assistance Program (EAP).
Physical Demands
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, you will need to have good manual dexterity as well as speaking and hearing ability. This position requires sitting; some reaching; standing; some stooping or kneeling. The employee must occasionally lift and move up to 50 pounds. It is expected that the employee will read, compile, compute and record numerical and statistical data. Must drive occasionally.
This is a Non-Collective Bargaining Unit.
Telhio is an Equal Opportunity Employer