Job Description

MORTGAGE LOAN PROCESSOR, MIT Federal Credit Union (MITFCU), to manage the overall lending process and act as the primary point of contact for all parties.  Will work directly with the member/applicant to ensure all forms, loan notifications, and disclosures are complete, accurate, verified, and compliant and that supporting documentation is received; order flood insurance, private mortgage insurance, appraisal, title commitments, and other ancillary items; review and verify that fees are disclosed accurately and loan estimate and closing disclosures are sent within required deadlines to ensure regulatory compliance; analyze loan-to-value ratios, debt-to-income ratios, credit reports, income, assets, source of down payments, and supporting documentation; and identify, resolve, and communicate issues that could impact timely closure of mortgage loans.  Duties include coordinating with multiple parties to satisfy outstanding loan conditions; re-underwriting and processing loans according to an automated underwriting system, secondary market standards, and internal underwriting guidelines/requirements; ensuring compliance with applicable state and federal laws/regulations; enforcing rate lock and extension policy and performing other first mortgage-related processing; completing weekly pipeline reviews; and assuring that disclosures are compliant and submitted within mandatory timeframes. 

A full description is available here.  

REQUIRED:  high school diploma or its equivalent; one year of loan processing experience; NMLS license or ability to obtain licensure; working knowledge of and ability to implement TRID, HOEPA, ECOA, QM/ATR, HMDA, RESPA, flood, FNMA, FHLMC, BSA, OFAC, FHLB, and other investor policies/procedures; working knowledge of mortgage fraud, red flags, and loan misrepresentation; high-level computer literacy; strong communication, analytical, and time-management skills; and ability to handle multiple tasks simultaneously and work independently with minimal supervision in a fast-paced environment.  PREFERRED:  bachelor’s degree.  Job #22933-4

This hybrid position is located in Lexington, MA.

7/12/23