Retail Processor

Finance & Accounting
in Tampa
, FL
Reference: 19-03370

Essential Duties and Responsibilities:

Under the direction of the Processing Manager, the Retail Processor has the responsibility to fulfill the following functions and others as may be assigned:

  • Perform all responsibilities in accordance with current organizational goals and standards
  • Counsels and advises callers on new mortgage loan options and/or required documentation
  • Answers calls when presented and returns voicemail messages same day whenever possible and follows up with all members according to commitments made
  • Directs the loan to the Underwriters if it does not meet minimum standards or if it is required based on the loan product or situation as defined in the Product Guidelines
  • Communicates lending decisions and advises members of documentation needed to process a request
  • Keeps members engaged and informed until the loan is ready for closing
  • Follows up after closing to ensure questions are answered, and needs are met
  • Retains and enhances mortgage acumen and specifically maintain knowledge of mortgage products and services offered by the credit union
  • Reinforce the selling points of our loan types, rates, payments, and terms of mortgage products
  • Orders and follows up on vendor orders such as appraisals and flood certifications
  • Ensures disclosures and appraisals are received, and loans are denied based on regulatory requirements
  • Uploads valid documentation used to obtain loan approval into Virtual Loan File
  • Knowledgeable in all facets of processing in accordance with guidelines for the Government Sponsored Enterprises (GSEs), credit union portfolio products, mortgage insurance requirements, FHA and VA regulations
  • Responsible for verifying application data to ensure it is accurate including product type and the amount of mortgage, borrower assets, liabilities, and length of employment by utilizing documentation provided and required
  • Validates loan information to include verification of employment, verification of deposit accounts, and all liabilities to prepare an application for final approval and clears conditions as appropriate
  • Recommends counter-offers and recommends that loan denial when they do not meet minimum standards
  • Communicates to member any additional documentation required to meet guideline requirements
  • Ensures that all data is accurate in the loan origination system and the resulting findings from the automated underwriting system are in sync
  • Completes calculations as needed for Assets and Income (using W2s, Tax Returns, Paystubs)
  • Reviews service orders for accuracy; such as:
    • Credit report to determine the credit worthiness of applicant based on industry standards for collateral/equity value- questions discrepancies and disputes
    • Homeowner’s insurance and flood insurance (if applicable) ensuring mortgagee clause is in favor of credit union and rating is B or better
    • Flood certifications and other verifications to prepare a file for closing appraisal
    • Title commitment for liens and legal description accuracy
  • Completes path tabs in Prime Alliance as shown in the Processing Procedure Manual
  • For the purpose of maintaining Credit Union goals, it is the responsibility of each employee to strive for the continuous quality improvement of processes and quality of service to internal and external customers
  • All work responsibilities are subject to having performance goals and targets established as part of the annual performance planning process or as the result of organizational goal and production planning
  • Must demonstrate a functional knowledge of Federal laws, including but not limited to: U.S. Patriot Act, Office of Foreign Assets & Control, Anti-Money Laundering, Right to Financial Privacy Act, and the Bank Bribery Act

Other Job Functions:

  • Full-time hours required, with additional hours as necessary to accomplish objectives, goals, and projects
  • Perform additional duties as assigned
  • Abide by all policies, procedures, and protocols outlined in the departmental, the client’s employee, operational and administrative policy manuals

Knowledge, Skills, and Abilities Required:

  • Excellent time management skills
  • High sense of urgency
  • Excellent communication skills
  • Ability to determine the best course of action within a wide array of choices
  • Exhibit professional image
  • Exhibits leadership skills

Physical Requirements:

  • Able to sit, communicate via telephone, type and read a computer screen for extended periods of time
  • May also require standing, stooping and reaching
  • Non-strenuous daily activity and prolonged sitting
  • Extensive typing, filing, and writing

Education/Experience Requirements:

  • High school diploma or equivalent
  • Some college preferred
  • Minimum 1-3 years’ experience or a combination of education and experience
  • Understanding of acceptable FNMA/Freddie Mac documentation requirements and calculations desired