Mortgage Loan Consultant

Ent Federal Credit Union Colorado Springs , CO 80928

Posted 6 months ago

Position Description:

The purpose of the Mortgage Loan Consultant is to ensure the timely and accurate preparation of all Mortgage Loan Products. They serve as the primary contact for the borrower throughout the entire loan process. The Mortgage Loan Consultant ensures the loan is compliant with investor and company policies. They are responsible to utilize all available resources to remain proficient and knowledgeable with Mortgage Lending products, procedures, and regulations to serve as the liaison between the members, mortgage lending staff, and third parties to the mortgage transaction.


Essential Job Duties and

Responsibilities:

To ensure the timely and accurate processing of all assigned mortgage loans while maintaining quality standards by satisfying all loan conditions. Analyze documentation to include income and employment verification, asset statements, supporting documents for liabilities, appraisal, title commitment, insurance, flood certification, government documentation, and property eligibility documents, serving as the primary contact for the member(s). Evaluate and independently resolve complications that arise related to loan guidelines, member requests, regulatory requirements, etc

Update closing costs as needed throughout the loan process to prevent tolerance violations and loan eligibility. Coordinate with title companies and third party vendors to prepare and deliver accurate closing disclosures within required timeframes. Prepare and verify closing documents to ensure accuracy and compliance with investor and lending regulations.

Setup loan file by ordering all required services from third-party vendors, such as appraisals, VOEs, VOMs, title commitments, flood certificates, tax transcripts, etc. to meet all required timelines. Update system with accurate closing costs.

Research and maintain an updated knowledge of progressing loan program guidelines. Understand and meet all regulatory guidelines to guarantee loan compliance (i.e. points and fees tests, APR, QM, ATR, etc.)

Perform any additional duties/activities assigned by management, such as the phone queue and answering emails. Professionally communicate with members to ensure a positive member experience.

Coordinate loan closing time and location with member, title company, and third parties. Originate external and internal wire transfers to fund loan.

Minimum formal education required for this position:

  • High School Diploma or equivalent

Preferred Education:

  • Training in First Mortgage Lending

Minimum work experience:

  • 6+ months' mortgage lending experience or relevant lending experience sufficient to develop the technical and specialized knowledge and skills listed below
  • 2+ years' customer service or 1+ year(s) credit union or bank experience

Technical or specialized knowledge/skills:

  • Working knowledge of 1st mortgage products

  • Knowledge of Mortgage Lending business terminology and process flow

  • Working knowledge of investor and lending regulations

  • Ability to analyze member provided documentation (i.e. paystubs, credit reports, assets, tax returns, etc.), purchase contracts, title commitments, and recognize potential red flags/fraud.

  • Ability to analyze and problem solve to create positive outcomes for all interested parties

  • Ability to prioritize/manage files and allocate resources

  • Organized, detail oriented, flexible and able to multi-task in an ever-changing environment

  • Display positive, professional demeanor and work independently with little supervision

  • Self-motivated

  • Initiative to meet and/or exceed job standards and willingness to take on other tasks that support the goals of the Credit Union

  • Effective verbal and written communication skills

  • Computer skills to include Microsoft Word and Excel

  • Analytical and mathematical skills

  • Type a minimum of 30 wp

Training Certification Required:

  • Conventional Loans:

  • Must satisfactorily pass the initial test upon completion of training

  • Must satisfactorily process these loans within three months of training, based on current standards

  • Government Loans:

  • Must satisfactorily pass the initial test upon completion of training

  • Must satisfactorily process these loans within three months of training, based on current standards

Environmental, physical and psychological requirements:

  • Must be able to sit or stand for prolonged periods of time in a climate controlled environment. Must be able to use fingers, hands, wrists for repetitive tasks such as typing, using a mouse, handling paper, and operating a telephone. Demands for visual and auditory acuity are typical of an office environment. Must be able to interact via email, telephone, or in person with diplomacy, tact, and courtesy with all members under varying circumstances. Must be able to lift up to 40 lbs.
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Mortgage Loan Consultant

Ent Federal Credit Union