Home Equity Loan Processor

Home Equity Loan Processor

Position Summary: The Home Equity Loan Processor is responsible for processing all home equity loan applications. Processing is performed accurately and within established timelines. The processor acts as a liaison during the home equity process working directly with the Telhio loan officer and borrower to obtain all necessary information to process and fund the loan. The processor works with the Telhio loan officer to restructure the loan as needed to comply with underwriting guidelines. They prepare and distribute early disclosures, loan estimates and closing documents for Telhio members for all home equity loans in accordance with State and Federal Regulations. Home Equity Processors will have access to non-public information and must maintain confidentiality. The processor must possess effective written and verbal communication and maintains regulatory knowledge applicable to job responsibilities. This role will interact with several departments in the credit union including the branch network, lending center, underwriting team and the Home Equity Compliance Specialist. Upholds and embodies the Telhio Core Values of Caring, Commitment, and Integrity.

Responsibilities: The Home Equity Processor will be responsible for functions that align with our Consumer Lending goals to create an exceptional member experience. This includes:

• Communicates effectively with borrower to obtain the necessary documents needed to satisfy underwriting stipulations
• Adheres to and maintains knowledge of all related government regulations
• Reviews, prepares and sends loan disclosures for home equity loans compliant with TRID guidelines
• Ensures accuracy of information within documents provided by borrowers prior to uploading and sending to underwriting for review
• Delivers the highest level of support to their lending partners while responding to all requests in a timely manner
• Accurately logs and tracks home equity files in process
• Communicates updates and final approvals to loan officers
• Prepares, reviews and sends closing documents for home equity closings. Includes any necessary instruction and documentation
• Completes funding of home equity loans in the absence of the Home Equity Compliance Specialist
• Obtains property evaluations, title work and flood certification as required by Telhio guidelines

Performance Metrics:

• Completes general loan processing with attention to detail
• Reviews and prepares and distributes accurate home equity loan documents and disclosures
• Accurately logs loans to the processing worksheet
• Works effectively with loan officers to correct loan errors and restructure loans as needed
• Submits files to Underwriting with clear, accurate stips
• Complies with Service Level Agreement - Processes loans to meet established service level agreement
• Manages pipeline to provide extraordinary service to internal and external members
• Maintains knowledge of TRID guidelines and completes disclosures accordingly
• Demonstrates teamwork and leadership - Contributes to a positive and motivating work environment that encourages individ