Position Summary

The Home Equity Processor coordinates the processing, closing and funding of approved real estate home equity loans to ensure daily processing and funding of home equity products are completed in a timely, accurate and efficient manner within established Service Level Agreements. The incumbent ensures a timely flow of information and documentation, in support of Technology Credit Union's (Tech CU’s) requirements for offering quality and efficient Mortgage Lending products and services. The incumbent serves as a source to the Retail Banking staff in the proficient handling of complex processing issues and questions relating to collateralized loans.

Responsibilities

Essential Duties

• Collaborates with retail staff and underwriting staff to ensure a seamless and efficient member experience.

• May work with correspondent lenders to ensure compliance with established work flows, expedite decision process and performs loan fundings.

• Reviews and ensures all funding conditions are met.

• Prepares and processes requests for collateral documents including title, appraisal, flood and demands.

• Prepares and delivers initial disclosures within established timeframes. Reviews appraisal and appraisal review for correctness, resolves discrepancies, and works with member and sales staff to resolve any disputes with value. May determine available equity in regards to Loan to Value ratios.

• Reviews title reports received to ensure Tech CU will be in correct position, works with members, sales staff, escrow and title companies to resolve issues with vesting and liens, and is able to effectively resolve complex title situations.

• Reviews flood certificates, prepares flood notifications, and works with members and sales staff to obtain flood insurance.

• Works with retail staff, underwriting staff and correspondents to obtain any needed funding stipulations, including mortgage statements, paystubs and mortgage insurance documents, and/or to resolve any issues.

• Performs final review of collateral documents and stipulations for correct documentation and verifications to proceed to preparation of closing loan documentation.

• Prepares home equity loan closing documents and forwards them to the appropriate branch or signing destination for member's signature.

• Funds home equity loans and deposits or transmits funds in accordance with settlement instructions.

• Ensures closed and funded files are sent to Mortgage Servicing Department timely.

• Coordinates and interacts with title firms for verification of recording documents.

• Acts as a primary contact with retail staff, underwriting staff and correspondents through the closing and funding loan process.

• Acts as primary Tech CU contact with documentation vendor for the maintenance and management of documents.

• Supports mortgage lending team as needed.

Work Schedule

• Full-time; typically 40+ hours/week
• Flexible within core business hours, M-F
• Occasional extended early morning or late evening hours, and weekends, typically with advance notice

Workplace Essentials

• Supports Tech CU’s Mission and Vision and consistently demonstrates Tech CU’s Values (Accelerate, Collaborate, Innovate and Cultivate).
• Meets with manager on a regular basis to discuss goal alignment, performance metrics, and development plans.
• Complies with Tech CU policies and procedures.
• Upholds employee Code of Conduct and Business Ethics and ensures confidentiality of the workplace.
• Complies with requirements imposed by federal, state and local regulatory agencies.
• Adheres to internal control and security measures designed to ensure regulatory compliance and mitigate losses and errors.

Qualifications

Education: High school diploma (or equivalent)

Experience: 2+ years' increasing experience in related disciplines, with an emphasis on processing mortgage loan products in a credit union or financial institution.

Knowledge/Skills/Abilities:

• Strong understanding of home equity loan products, programs, applications, laws, regulations, policies and procedures.
• Strong ability to effectively collaborate with internal and external business partners.
• Basic knowledge of managing home equity loan applications through an automated system.
• Solid analytical and problem resolution skills.
• Solid proficiency in computer applications including Microsoft Excel, Word and Outlook.
• Strong attention to detail, time management, and multitasking abilities.
• Solid written and verbal communication skills.
• Strong ability to work well in a team environment.

Lic ensing/Certifications: Upon employment, must enroll and maintain registration with Nationwide Multistate Licensing System (NMLS) under Tech CU’s company registration.

Travel: May be required to occasionally attend offsite training, meetings or events, typically with advance notice. Overnight travel unlikely.

Typical Working Conditions: Office environment with interaction with a variety of internal and external parties.

Equipment Used: Routinely uses standard office equipment, including computer, phone, copier and other devices.

Physical Requirements: This position requires:

• Speaking and listening to interact with internal and external parties in person or via phone.
• Reading a computer screen and performing keyboarding tasks for up to 70% of the day.
• Sitting at desk and/or conference table for extended periods of time.
• Mobility to attend meetings within office building and offsite.

EQUAL EMPLOYMENT OPPORTUNITY

Technology Credit Union is an Equal Opportunity Employer. All qualified employees and applicants receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetic information, age, disability, veteran status or any other legally protected basis. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.

PAY AND BENEFITS

This is a grade 103 position, with a salary range from $59,300 to $82,700 with bonus potential of 7%. The anticipated range for new hires is between the low-end and midpoint of the range, depending on experience. Tech CU is a pay-for performance organization that benchmarks base pay to the 50th percentile of our market and we provide incentive-based compensation aligned with successful accomplishment of individual and corporate goals. The salary mentioned above is based on working in San Jose, CA. Salaries are based on the geographic location in which you live if working remotely.

Additionally, Tech CU provides health care benefits, life and disability insurance, 12 paid holidays and 401k with a company match; along with employee paid voluntary benefits. 5.54 Paid Time Off (PTO) hours accrue per bi-weekly paycheck (18 days per year) and will increase with length of service. Eight hours of Voluntary Time Off (VTO) are granted to full time employees annually to dedicate time to charitable organizations. Leaves of absences are available in adherence with state and federal regulations.