PenFed Credit Union
Senior Mortgage Loan Processor, Team Lead
At a glance
Location: US-TX-San Antonio Map
Posted: 06/07/2021
Closing: 07/06/2021
Degree: 4 Year Degree
Type: Full-Time
Experience: Not Specified
PenFed Credit Union
Job description

Join one of the nation's fastest-growing mortgage teams. At Penfed, our people are our greatest advantage. As we grow rapidly, we want to hire the industry’s leading talent. If you are up for the challenge, you belong here.


PenFed is hiring a Lead Mortgage Processor at our San Antonio, Texas location. The purpose of this position is to provide members with detailed guidance and advice on product and pricing on a refinance or a purchase mortgage loan, ensuring exceptional member service in conducting the loan process and providing on-going communication to Member and business partners through direct processing or through support of a processing team as a coach, sme, and workflow leader.


** We are pleased to offer a $3,000 SIGNING BONUS for all new Senior Mortgage Loan Processors, Team Lead whose start date with PenFed is on or before June 14th, 2021 **


Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned. 

  • Serve as a workflow leader for a team of processors, monitor pipeline progression, key milestones, control tower performance, rate lock expirations, turn times, and handle member service breaks and service recovery.
  • Coach and assist processors with complex transactions or during learning for new processes or products
  • Manage processor’s workload and desk during period when they are out of the office
  • Serve as coverage for manager from time to time when they may be out of the office or unavailable
  • Serve as a resource to resolove issues and answer questions from members, team members, sales partners, leadership.
  • Review all loan (with Intent to Proceed) registrations for completeness and accuracy. Serve as both originator and processor on loans. Responsible for generating Account Condition Letter (ACL) per Regulation B requirements.
  • Act as Members main point of contact throughout the entire mortgage process, ensuring excellent levels of member service by providing guidance/advice/counsel on process, product and pricing in a detailed and comprehensive manner.
  • Responsible for collecting and processing all documents required for loan approval. Types of loans processed typically include conventional loans. Lead Processor; types of loans will additionally include VA, employee, 80/10/10, Super Jumbo, and escalated or complex loans.
  • Determine initial potential for qualification by evaluating credit history, income levels and assets/liabilities; calculate debt- to-income and loan-to-value ratios.
  • Restructure loan request and recommend for adverse action as needed.
  • Responsible for reviewing and addressing items involving loan product, credit, occupancy and employment verifications and order pay off’s verbal verification of employment (VVOE)
  • Request action from Disclosure Desk and other internal partners as required by valid change in circumstances.
  • Collect, analyze and ingest document to clear ACL conditions.
  • Update loan origination system with the information from collected documents and re-run Desktop Underwriter (DU) or Strata as appropriate.
  • Maintain a working knowledge of both originating systems for home equity loans and lines of credit.
  • Assemble and submit completed file to Underwriting (UW); clear manual conditions, cure title issues, resolve appraisal discrepancies with appraisal review group as needed.
  • Clear any prior-to-fund conditions that arise after final UW approval before passing loan to Closing.
  • Remain main point of contact with borrower through closing and funding and answer any questions that borrower may have (e.g. questions on the HUD).
  • Manage and cure any QC loan issues that require borrower communication.
  • As required, ensure proper re-disclosures are prepared and delivered to the member within regulatory guidelines based on identified change in circumstances
  • Based on the business needs, may assist in other areas as requested (these duties may fall under the scope of other job functions within 1st and 2nd mortgages

*This role is responsible for ensuring business continuity.*


Education and Experience

Equivalent combination of education and experience is considered.

  • Bachelor’s degree or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions.
  • Minimum of five (5) years’ of experience preferably in residential mortgage lending in 1st Trust Mortgage or Home Equity processing/closing is required.

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*



Ability to travel to various worksites and be on-call may be required.


Special Message Regarding COVID 19

PenFed is continuing to hire and train exceptional individuals to help us serve our 2 million members both here and around the world.  In light of the current situation with novel coronavirus (COVID-19), we have modified our hiring, onboarding, training, and deployment protocols in order to comply with current local and state guidance around social distancing.

About Us

Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 2 million members and over $26 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico and Okinawa. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.


We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.


Equal Employment Opportunity

PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.


PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 240-224-4256.

Senior Mortgage Loan Processor, Team Lead