Listing Info

We currently haveimmediate openings for Mortgage Loan Processorsin our Alexandria, Virginia location.

General

The incumbent reviews all information supplied on residential mortgage loan applications with members. Submits the loan through the Desktop Underwriter system and satisfies conditions required by the automated loan origination system. Calculates debt-to-income and loan-to-value ratios. Assembles a completely documented file for submission to underwriting.

Duties

• Initiates and maintains contact with members throughout the processing period, assisting them with any questions and notifying them of any additional information required.
  
• Submits loans through DU and orders and follows up on any outside services such as credit reports, title, appraisals.
  
• Satisfies DU conditions and ensures documentation meets secondary market requirements.
  
• Monitors loans in process to determine any deviation from standard processing time and to take appropriate actions including notifying the manager for alternatives to ensure members receive timely service.
  
• Establishes accurate closing date and monitors promised closing dates to meet dates established. Meets standards for closing percentages of loans processed.
  
• Enters required information from all incoming mail and documents into the fields in the origination system and files documentation in the member's file. Tracks development of information to ensure compliance with underwriting guidelines for the specific mortgage loan program.
  
• Performs final reviews of the completed application packages and prepares the file for approval, specifying any applicable conditions to the approval. Reviews the commitment and any additional required disclosures.
  
• Notifies the member of the underwriting decision.
  
• Prepares, if applicable, the 'Decline Letter' and ensures accurate disclosure of the reason(s) for the adverse action at whatever time during the processing period it is determined that applicants do not qualify.
  
• Maintains the necessary records in the appropriate system to ensure that PenFed is in compliance with HMDA reporting requirements.
  
• Serves as support to PenFed operations employees in answering inquiries and providing information on mortgage loan programs.
  
• Maintains a working knowledge of all mortgage products available through competitive organizations to accurately respond to member questions.
  
• Researches problems and files documents as required.

We Can Offer You

• Challenging intellectual environment thatrequires both individual contribution and team collaboration.
  
• Medical, dental, vision & prescription drugcoverage.
  
• Convenient Alexandria location with assigned free parking; close to metro and the beltway.
  
• Company paid short- and long-term disability coverage.
  
• Company paid life insurance.
  
• Generous education assistance program.
  
• Flexible Spending Accounts for out-of-pocket medical and dependent care expenses.
  
• Immediate enrollment in 401(k) plan with company match (100% of first 4% you contribute) after 6 months on the job.
  
• On-site fitness center and cafeteria

Requirements

• Associates degree (or an equivalent combination of education and experience), three years work experience with one year related work experience in residential mortgage lending or 1st Trust Mortgage or Home Equity processing/closing.
  
• Also requires good analytical and math skills, strong oral and written communication skills, and outstanding computer skills.