Equity Loan Coordinator Job Beavercreek area,Ohio USA,Finance & Banking

Position: Home Equity Loan Coordinator

Overview

The Home Equity Loan Coordinator is responsible for ensuring fast and efficient processing of all second mortgage products including lines of credit, closed-end, bridge, and piggyback loan applications during the processing and closing stages of the loans. This position ensures a multi-step process is compliant with all federal regulations and that second mortgage loan disclosures and documents are completed accurately, leading to timely loan fulfillment for members.

Responsibilities

Ensure all steps of processing home equity lines of credit are completed by ordering, collecting, analyzing, and validating information such as credit reports, proof of income, proof of insurance (homeowner’s, condo, and flood), property appraisals, title abstracts, flood certifications, property deeds, and other mortgage-related documents while ensuring compliance with federal regulations, credit union policies, management practices, underwriting instructions and stipulations. Report gaps in policies, procedures, and operating controls to leadership to mitigate member impact and risk.

Assist with title curative measures including mortgage liens, judgments and other liens, and other items that may pose risk to WPCU’s lien position. Help identify necessary deed corrections and communicate requirements to complete home equity processing.

Create a seamless transition through the various stages of the second mortgage process by taking the application from the Financial Coach, maintaining timely communications with the member, and coordinating a closing date while meeting expected turn times.

Know, understand, and comply with all federal and state regulations pertaining to second mortgage lending, such as Regulation B, Regulation C, Regulation F, Regulation G, Regulation P, Regulation V, Regulation X, Regulation Z, and Bank Secrecy Act (BSA).

Provide extraordinary service to partners and members. Maintain knowledge of second mortgage loan product guidelines to provide quick and accurate answers. Coordinate with Member Centers, Member Help Center, appraisers, title companies, insurance companies, online closing vendors, and other partners to ensure an exceptional member experience.

Review daily pre-disclosure reports to ensure automated disclosures are processed. Verify disclosures or automated failures and ensure every applicant receives pre-disclosures in accordance with federal regulations. Prepare and issue all Loan Estimates and pre-disclosures for closed-end fixed applications and communicate with partners to ensure accurate information and dispositions.

Assist with training opportunities for frontline partners as they arise.

Perform other duties as assigned by Leadership.

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