|
Tasks
1. Processes loan applications and verifies accuracy and completeness of information. (STAR S110, S200, S210, S410, S700, S1010)
2. Conducts loan interviews. (STAR S200, S700M)
3. Provides all applicable disclosures for fixed- and variable-rate loans. (STAR S410M) (MERIT M22M)
4. Calculates closing costs and provides a good faith estimate for closing costs. (STAR S410M) (MERIT M22M)
5. Verifies employment, income, deposit accounts, assets, and liabilities. (STAR S710M)
6. Orders and evaluates credit report to determine accuracy of report and creditworthiness of member.
7. Approves or denies loan applications under authority delegated. (STAR S700M)
8. Submits applications to Fannie Mae for underwriting. (STAR S410M)
9. Requests and evaluates real estate appraisal to ensure final value is properly determined. (STAR S410M)
10. Requests flood certification. (STAR S410M)
11. Orders title work from attorney or title company. (STAR S410M)
12. Obtains copy of homeowner’s insurance and flood insurance (if applicable) and ensures mortgage clause is in favor of credit union. (STAR S410M)
13. Calculates repayment and interest schedule. (STAR S700M)
14. Prepares closing package and schedules closing. (STAR S410M)
15. Verifies that payment is made for services such as credit checks, appraisals, etc. (STAR S710M)
16. Assists members with problems or questions regarding mortgage loan processing. (STAR S410M)
17. Keeps realtors apprised of loan approval status and interest rates. (STAR S410M)
18. Ensures mortgage is recorded. (STAR S410M)
Also see Training for Loan Officer and Loan Processor/Loan Clerk
Knowledge of…
• Applicable regulations (RegTraC Modules 3 & 4)
• Closing rates
• Credit union’s computer system
• Credit union’s criteria for approving loans
• Credit union’s criteria for establishing repayment schedules
• Credit union’s criteria for valuing property
• Credit union’s loan approval guidelines
• Credit union’s products and services
• Fannie Mae procedures
• Mortgage loan procedures
• Procedures for requesting flood certification
• Procedures for requesting title work
• Procedures requesting insurance copies
• The items that need to be included in the closing package
• The various credit bureaus and their procedures
• The various evaluation services and their procedures
• Title vesting
• What constitutes a favorable mortgage clause
• When realtors need to be notified
Skills in…
• Analyzing information
• Calling problems to the attention of the proper person
• Communicating in writing
• Communicating verbally
• Cross-selling
• Explaining estimates to members
• Interviewing
• Juggling multiple schedules
• Listening
• Organizing
• Paying attention to detail
• Performing general math calculations
• Probing for information
• Reading the credit bureau reports
• Showing calmness under pressure
• Solving problems
• Using telephone etiquette
Behavior
• Courteousness
• Friendliness
• Helpfulness
• Promptness
• Tactfulness
• Timeliness
|
