Mortgage Loan Processor

Description

POSITION SUMMARY

The Mortgage Loan Processor is responsible for efficiently processing, closing, and disbursing residential real estate loans in accordance with Central Bank’s policies, procedures, and regulatory guidelines. Working with minimal supervision, this role ensures the accuracy and timeliness of loan files to meet commitment and closing deadlines, as well as departmental goals. The Mortgage Loan Processor collaborates with internal departments, real estate agents, borrowers, and other external partners while ensuring timely communication, regulatory compliance, and adherence to underwriting requirements.

ESSENTIAL DUTIES AND RESPONSIBILITIES

The essential functions include, but are not limited to the following:

Loan Processing & Coordination

• Assess new loan applications and clients' financial situations by reviewing income, assets, debts, expenses, and credit reports
• Set up loan files and order, track, and review necessary documents such as credit reports, verifications, title searches, appraisals, and inspections
• Serve as liaison between underwriters, loan officers, closing companies, and customers
• Submit loan packages to underwriters, ensuring adherence to portfolio or investment guidelines
• Enter and update loan information in internal tracking systems

Documentation & Compliance

• Verify timely and compliant delivery of all required disclosures and documents
• Maintain accurate and complete documentation for compliance tracking
• Complete regulatory forms such as HMDA and Escrow letters
• Access systems to pull account histories, payoffs, and other loan-related data

Loan Closing & Post-Closing Support

• Ensure timely final loan approvals to meet scheduled closing dates
• Review and prepare closing documents to ensure title, insurance, and settlement accuracy
• Balance HUD-1 Settlement Statements and disburse loan funds appropriately
• Follow up on final loan packages to ensure receipt of properly recorded legal documents
• Deliver completed loan files to the post-closing department

ADDITIONAL RESPONSIBLITIES

• Perform other related duties and responsibilities as assigned by management.

Requirements

EDUCATION & EXPERIENCE

• Associates degree required or equivalent work experience 
• Minimum of one (1) year of experience in similar job duties

Central Bank is an Affirmative Action and Equal Opportunity Employer, drug free workplace, and complies with ADA regulations as applicable.