Arkansas Federal Credit Union

Mortgage Loan Processor (Home Equity)

US-AR-Little Rock

Job ID: 2026-3629
Type: Regular Full-Time
# of Openings: 2
Category: Mortgage
Little Rock Headquarters

Overview

Working at Arkansas Federal Credit Union

GENERAL DESCRIPTION OF POSITION

The primary function of the Loan Processor is to ensure the timely and accurate processing of all loans originated by our loan officers. Responsibilities include: Ensuring that all loan documentation is complete, accurate, verified, and compliant with company and investor policy. Verifying loan documents including income, credit, appraisal, and title insurance for submittal to underwriting. Working with members, originators, and other applicable outside parties to request and coordinate any missing loan documents or information.

Responsibilities

ESSENTIAL DUTIES AND RESPONSIBILITIES

1. Perform initial review of application to insure accuracy and setup of files in the mortgage loan operating system.
2. Review the submitted loan to ensure that it is the best loan program for the member and their situation. If an issue is discovered, discuss the situation with the Mortgage Loan Originator to find a solution or to re-structure the loan.
3. Order necessary verifications of employment, deposit, mortgage, and rental; order credit report and supplements; order title work, flood certificates, tax transcripts, homeowner's insurance binders, and appraisals for all loans where applicable. The Mortgage Loan Processor is responsible to ensure that these items are received in an acceptable timeframe, following up with providers when necessary.
4. Deliver Loan Estimates, disclosures, or any other required documents when required. Confirm that the initial disclosures have been provided to the borrower by the 3rd business day after the mortgage application is received. If the disclosures have not been provided to the member at the time that it comes to processing, the processor should advise and work with the MLO to get the disclosures sent in a timely manner.
5. Obtain copies of plans and specifications for all loans that are proposed construction.
6. Obtain copies of the most recent 2 years of federal tax returns on all borrowers that are self-employed or who own more than 25% of a company and complete/verify the self-employed analysis.
7. Obtain copies of paystubs, social security awards letters, retirement income statements, and W-2s when necessary. The Mortgage Loan Processor should utilize the information from these forms to calculate and verify income accordingly.
8. Obtain copies of bank statements, 401k statements, TSP statements, and retirement statements where available to verify member/borrower has sufficient funds for closing. The Mortgage Loan Processor will also document and verify any large deposits per investor/program requirements.
9. Review the credit report and determine if any explanation of credit inquiries is required. If necessary, the Mortgage Loan Processor will request this explanation from the member/borrower.
10. Electronically file all verifications, credit reports, title work and appraisals as received. Documents should be reviewed for accuracy and completeness. Any new information should be updated in the mortgage loan operating system and appropriate parties advised of any changes in status of file.
11. Prepare the loan file for underwriting by reviewing the analysis and final application according to HUD, VA and investor guidelines.
12. Review and clear all conditions received from underwriting before preparing the loan for closing and subsequently sending to the closing area.
13. The Mortgage Loan Processor will be the primary point of contact for the member, realtor, and all third party service providers for the duration of the loan processing, underwriting, and closing.
14. The Mortgage Loan Processor will be in constant communication with all internal and external parties to insure all parties involved are aware of the current loan status and follow up on any outstanding requests.
15. Must be eligible for NMLS registration and must ensure that this registration is kept up to date each renewal period.
16. Cross-sell financial services appropriate to each member's personal financial needs.
17. Develop a working knowledge of Credit Union service, policies, procedures and government regulations concerning mortgage lending.
18. Perform any other related duties as required or assigned.

Qualifications

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty mentioned satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

EDUCATION AND EXPERIENCE

High school or GED, plus specialized schooling and/or on the job education in a specific skill area; e.g. data processing, clerical/administrative, equipment operation, etc, plus 12 to 18 months related experience and/or training, or equivalent combination of education and experience.