Mortgage Loan Processor
Primarily responsible for ensuring that mortgage applications are processed accurately and to ensure compliance with bank policies and procedures. Responsible for administrative details of all mortgage loans including filing of reports, completion of documentation and customer follow up.
Essential Duties and Responsibilities:
• Organize/set up new loan applications received from Loan Officers.
• Input/update new loan requests in Loan Operating System with data as received.
• Obtain credit data; preliminary Loan Processor finding; submit file to Private Mortgage Insurance (PMI) for quote, if necessary.
• Prepare initial disclosures (2010 Itemization/Good Faith Estimate, Truth-In-Lending/Reg. Z, Net Tangible, Section 32, and Section 35)
• Process collected customer fees; order appraisal, title, census, flood reports, any needed verifications (VOE, VOD, VOL).
• Assess the application to see if it meets secondary market underwriting standards as well as the bank’s internal underwriting standards.
• Identify missing application documents/disclosures and any missing credit qualifying documents.
• Prepare initial written communications to borrower (related to missing documents).
• Update/correct Loan Prospector if needed.
• Prepare commitment letters and denial notices.
• Communicate loan status to customers and Loan Officers and coordinate the follow-up with customers to collect prior to closing conditions.
• Monitor pipeline report, tracking commitment and rate expirations.
• Comply with all applicable laws, regulations and company policies as stated in Bank’s Code of Conduct
• Complete required training including regulatory, systems and others as required by the supervisor based on job duties within the requested time periods.
• Perform other duties as assigned.
• Associates Degree or High School Diploma (or equivalent).
• At least 3 to 5 years of processing experience.
• Computer proficiency with Encompass 360 (Loan Operating System) preferred.
• Knowledge of mortgage industry, products and lending practices.
• Must be detail oriented, computer literate; possess strong organizational and interpersonal skills, as well as verbal and written communication skills.
• Ability to interact within all levels of the Bank.
• Ability to communicate effectively with a diverse customer base.
• Must possess a good work ethic and attention to detail.
• Ability to effectively communicate information and respond to questions with customers.
Physical Demands/Conditions: Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions and expectations.
General Office environment. Light to moderate lifting of files and/or boxes when necessary.
These functions are subject to change and will be updated when necessary.