Equity Processor I

Overview

To process equity loans and ensure compliance in accordance with applicable federal/state laws, as well as Navy Federal's policies, procedures, NCUA and Federal Home Loan Bank guidelines and regulations. To provide information to members regarding equity loan requirements, products and related services. Process equity loan applications according to established guidelines and requirements. Coordinate final loan application changes, revisions and corrections with other equity staff, closing agents and settlement attorneys to ensure accurate and efficient processing of equity loans. Record, track and monitor documentation issues and productivity. This role is a second tier of the Equity Processor I role after demonstrated proficiency and successful completion of the essential job functions or the possession of the requisite equivalent experience. Perform basic/routine tasks with a narrow scope under immediate supervision.

Responsibilities

• Act in the capacity of a Loan Officer on applications status and communicate with member regarding outstanding documentation issues
• Analyze, research and resolve problems and discrepancies related to member accounts/loans
• Analyze/evaluate status of title, determine exceptions for acceptability and take corrective action or obtain additional documentation if required
• Communicate outstanding documentation requirements and set appropriate deadlines for submission
• Coordinate schedule of settlement with member and settlement agent/notary public
• Counsel current and prospective members about Navy Federal's products and services
• Examine preliminary title work, status reports , hazard and flood insurance policies to determine if property condition/insurance is within acceptable levels
• Identify circumstances in which additional documentation may be required
• Prepare loan disclosures required by Federal/state laws (e.g. Good Faith Estimate, Truth-In-Lending)
• Process equity applications according to established laws, requirements and guidelines
• Relay loan status to member and other member approved parties (e.g. real estate agent, settlement agent)
• Review approved equity loans for completeness, accuracy and additional information required to close loan
• Verify "intent to proceed" by member prior to collecting required fees, requesting appraisal and ordering title work
• Enter applications into online application system
• Prepare/submit final applications and member appeals for decision
• Resolve escalated member issues and problems
• Respond to inquiries and resolve any issues concerning the processing of applications
• Submit applications for decision according to applicable terms and conditions
• Perform other duties as assigned

Qualifications

• Incumbent will be required, prior to the assumption of employment duties, to register with the Nationwide Mortgage Licensing System and Registry; includes fingerprinting and background checks
• Exposure to managing multiple priorities independently and/or in a team environment to achieve goals
• Experience in work which displays increasing levels of responsibility and/or authority
• Experience in working in a high volume, fast paced environment
• Demonstrated successful completion of the essential job responsibilities or related experience
• Working knowledge of Real Estate Lending systems, policies, procedures, practices and/or actions or equivalent experience
• Working knowledge of mortgage/equity loan processing, closing and documentation requirements and regulations
• Familiarity with Navy Federal mortgage and equity applications, products and services
• Effective skill analyzing and organizing problems or work processes for technical solutions
• Effective skill applying innovative approaches to solve technical design issues
• Basic organizational, planning and time management skills
• Basic skill exercising initiative and using good judgment to make sound decisions
• Basic skill following, interpreting and applying relevant data/instructions to guidelines, procedures, practices and regulations
• Basic skill maintaining accuracy with attention to detail and meeting deadlines
• Basic skill performing mathematical calculations and working accurately with numbers
• Basic verbal and written communication skills
• Basic word processing and spreadsheet software skills

Hours: Monday - Friday, 8:00AM - 4:30PM

Location: 820 Follin Lane, Vienna, VA 22180 | 141 Security Drive, Winchester, VA 22602 | 5510 Heritage Oaks Drive, Pensacola, FL 32526

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