USC Credit Union, a dynamic $450 million credit union located steps from USC’s University Park campus near Downtown Los Angeles, is looking for an experienced Real Estate Loan Processor for its fast paced Real Estate department. This position reports directly to the VP of Real Estate and is responsible for processing loans in adherence to product guidelines and company standards. This position will act as a liaison between the loan officers, members and various departments throughout the company. The ideal candidate will represent the credit union in a professional and enthusiastic manner: by providing an exceptional level of customer service, supporting the mission statement, and adhering to our core values in all functions of their job responsibilities and interaction with internal and external members. Furthermore, the Real Estate Loan Processor will be responsible for reviewing the entire loan file, including any tasks previously performed by the loan officer, loan set up and/or disclosure staff, for accuracy and compliance with credit union and secondary market guidelines and immediately communicate any errors and/or discrepancies to the appropriate party.
Responsibilities include, but are not limited to:
· Reviews and understands the policies and procedures as it pertains to their job responsibility.
· Performs all requirements of processing 1st and 2nd Trust Deed Mortgages for submission to obtain final loan approval
· Proactively and consistently communicates with the borrowers, loan officer and referral partner with regard to the status of the loan filed.
· Reviews loans and renders a preliminary credit decision based upon documentation received for loans within their lending authority.
· Submits loan to the underwriting department and processes requirements of underwriting decision: Insures that all required pre-closing quality assurance requirements are met in accordance with investor and credit union policy.
· Responsible for daily updates, approved loans: communicate required conditions to all parties involved, suspended loans: obtains missing documentation and denied loans: discuss options with loan officer and if no options available issues denial in accordance with company requirements.
· Responsible for immediate communication to all appropriate parties on any significant problems or discrepancies regarding individual loans, loan referral sources and/or vendors. Continuously re-validates the initial underwriting decision.
· Responsible for making sure that all federal, state and agency compliance standards are adhered to as defined in the corporate operations manual.
· Making sure that all loans are processed in accordance with requirements of product description sheets and secondary market guidelines.
· Assisting the post-closing and/or quality control department in obtaining any missing documentation needed in order to render a loan saleable into the secondary market.
· Acts as a liaison between the borrower and other departments.
The ideal candidate will:
· Possess a Bachelor’s degree
· Have a minimum of three year experience in Real Estate Loan Processing.
- Comprehensive understanding and knowledge of current residential lending guidelines.
- Current knowledge of federal and state laws pertaining to the mortgage-banking industry
(i.e. TILA, RESPA, etc.).
- Current knowledge of the mortgage origination process, policies, and procedures.
Loan Prospector (LP) knowledge and DeskTop (DU).
· National Mortgage Licensing System (NMLS) will be required.
· Possess a high sense of urgency, attention to detail, initiative and integrity
· Have exceptional interpersonal, customer service and communication skills
· Pass a pre-employment background and credit check
· Ability to process a caseload of 50 loans per month and close a minimum of 15 loans per month.
USCCU offers a competitive salary and perhaps the best benefit package in the CU industry. We are a member-focused financial cooperative committed to becoming the preeminent financial services provider to the Trojan Family.