Home Equity Processor

The primary purpose of this position is to assist First Commerce in fulfilling our Vision To Be Our Member’s Financial Partner for Life. This is achieved through delivering Remarkable Member Service as defined by our Service Standards as well as building and maintaining strong member relationships through identification of member’s financial needs and effectively recommending appropriate products and services to meet those needs.

The Home Equity Loan Processor is responsible for timely communication with all appropriate internal and external parties associated with the home equity loan transaction ensuring an accurate exchange of information to achieve successful and timely closings of the home equity loans in their pipeline. The He Processor processes home equity loans from date of application submission through Clear to Close ensuring that all requirements and conditions have been met while maintaining compliance with state and federal regulations to include but not limited to the CFPB (Consumer Financial Protection Bureau) and in accordance with the Dodd-Frank Act regarding ATR (Ability to Repay) and the QM (Qualified Mortgage), as well as underwriting guidelines from First Commerce Credit Union.

RESPONSIBILITIES:

• Orders and obtains all required third party reports, including, flood determinations, appraisals, Title work, Homeowner’s Insurance. coordinates closings with loan officers and title companies as needed. Prepares closed loan package for all FSO’s or Title Companies assuring that all documentation is correct prior to emailing or sending the package for closing.
• Reviews and analyzes documentation obtained throughout the process in order to determine continuous loan eligibility and an update of the data in the LOS to ensure data integrity.
• Effectively communicates with other FCCU Departments, and title companies on file status, requests follow-up on outstanding documents as required for timely and efficient loan processing and closing. Assures file has been approved by Underwriting prior to ordering out.
• Competently reviews title commitment to insure all title issues have been remediated prior to drawing closing documents. Prepares all required documents to create closing package, obtain final Closing Disclosures, issue HE disbursement checks.
• Reviews closing conditions and clears them prior to loan closing. Recognizes closing issues and stops closing if conditions are not cleared or a compliance issue exists.
• Maintains the mortgage suspense file by ensuring post-closing loan documentation is received in a timely manner. Uploads mortgages into eRecording system to record with correct clerk of court.
• Provides prompt, accurate and courteous internal and external service.

REQUIREMENTS:

• Basic Microsoft Word and Excel
• Displays a strong attention to detail and exhibits excellent organizational skills
• Strong commitment to service including problem resolution skills such as researching, follow up, and apply corrections
• Strong verbal and written communication skills the ability to write correspondence with explanations, apologies, and resolutions to problems
• Strong ability to work independently including reading and comprehending instructions, correspondence, and memos.
• Strong math skills including the ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, percent and late charges.
• Basic knowledge of adjustable-rate mortgage functions and various interest accrual methods.

Other Responsibilities:

• Performs job duties in accordance with policies established by the Board of Directors under the rules and regulations set by the National Credit Union Administration, the State of Florida and any applicable State laws for financial centers located in other States.
• Complies with Reg E, BSA, OFAC and CIP requirements such as reporting suspicious or unusual activity to manager.
• Fully supports in actions and words First Commerce’s Vision, Mission, Core Values and Service Standards
• Attends meetings timely and as required; reports to work as scheduled and adheres to First Commerce’s dress code.
• Performs other duties as assigned.

EDUCATION AND EXPERIENCE:

• A minimum of a high school diploma is required. 2-year degree preferred.
• A minimum of 2+ years of experience in a financial institution or HE processing.
• Experience with consumer loan lending, audit and/or quality control is preferred; relevant, prior experience accepted.

Americans with Disability Specifications:

The primary work location for this position is a First Commerce building. Team members may be requested to work in different First Commerce Financial Center locations.