Pentagon Federal Credit Union serves over 1 million members in the Air Force, Army, Coast Guard, Department of Homeland Security, Department of Defense, defense-related companies, and the Veterans of Foreign Wars. We were federally chartered in 1935 and serve our members worldwide.
Pentagon Federal Credit Union is one of the strongest and safest financial institutions with more than $17 Billion in assets. We offer mortgages, credit cards, automobile loans, personal loans, checking, money market savings, and other accounts.
We have an immediate opening for a Full Time Bi-lingual Mortgage Loan Processor in our Alexandria, Virginia office location.
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 within established timeframes.
Incumbents of this position acts as a mortgage loan originator (MLO) as defined in the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act
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 desktop underwriting and orders and follows up on any outside services such as credit reports, title, appraisals.
Satisfies desktop underwriting 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 PFCU is in compliance with HMDA reporting requirements.
Serves as support to PFCU 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.
This is not intended to be an all-inclusive list of job duties.
Must register with the Nationwide Mortgage Licensing System & Registry (NMLA).
Must obtain unique identifier required for MLOs.
Must maintain the registration in accordance with PenFed policy and all related regulations.
Requires an Associates degree or combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions.
Three years work experience required, preferably with one year related work experience in residential mortgage lending or 1st Trust Mortgage or Home Equity processing/closing.
Good analytical and math skills required.
Strong oral and written communication skills required.
Computer skills required.
Must possess mobility and stamina to work in a standard office setting.
Employees must be able to use standard office equipment including, but, not limited to computer, printer, and calculator.
Employee may have to lift items up to 30 pounds.
Must be able to sit or stand for long periods of time.
May need the ability to raise arms about their head.
Must be able to bend to file documents and retrieve filed documents.
Adequate hearing and speech to communicate with our members and/or staff on the phone or in person.
This statement is not an all inclusive list of physical requirements, but, is in general, covering most areas of the job. PenFed will make every effort to provide reasonable accommodations to an employee with a physical, mental or sensory disability in order to allow that employee to perform the essential functions of the job
We Can Offer You:
You do not need a security clearance but you must pass a credit and criminal background check.
We are proud to be an equal employment opportunity employer: m/f/v/d.