Mortgage Loan Processor | Kent City

Description

Mortgage Loan Processor

Non-Exempt

Equal Employment Opportunity

Corporate Values & Mission

“Provide superior service, quality advice and show our utmost respect to everyone we meet.”

General Summary

Represent the company in customer service and evaluation of loan applications. Verify through outside sources, the accuracy of information on the application, review debt-to-income and loan-to-value ratios and assemble and submit a completely documented file to automated underwriting systems. Review appraisals. Schedule and facilitate loan closings. Assure that all documentation needed to support an underwriting decision and loan closing is in the loan file.

Reports To: Mortgage Loan Processor Team Lead

Essential Duties and Responsibilities

• Maintain caseload in a timely and responsible manner. The expected caseload would be an average volume that supports current production with an average processing time that meets or exceeds market expectations.
• Maintain an open line of communication with the applicant throughout the processing period, assisting them with any questions and notifying them of any additional information needed. Promote the company’s philosophy of providing excellent customer service through various contacts throughout processing with Realtors, builders, applicants, and others.
• Daily monitor and act upon incoming mail and documentation needed for approval or closing. Maintain log and event tracking in the computer to keep other staff members aware of status, lock expiration dates and anticipated closings.
• Review file and submit to automated underwriting systems for approval. Issue approval/conditions checklist. Review appraisals for any conditions or issues that need to be cleared prior to loan closing. Involve senior underwriting staff whenever necessary.
• Monitor compliance alerts in LOS and resolve with urgency. Limit 3 day rule violations and follow procedures for TIL tolerances for all fees paying close attention to title and appraisal cures with required Change of Circumstances documented and appropriately redisclosed.
• Complete a final evaluation and analysis of the completed loan package and prepare the file for closing, assuring that necessary conditions are cleared.
• At a minimum, applicants, Realtors, and loan officers are given status reports at the following stages of processing:

- 1. After initial review of the new loan application

- 2. When approval has been received

- 3. When appraisal comes in

• As a back up to the closer, be able to schedule, prepare documents and facilitate loan closings. Review file post-closing to assure that the loan was closed properly.
• Prepare, in a timely manner, adverse action notices and 30-day notices when required.
• Participate in creating a good working relationship with other staff members and customers.
• Answer customer calls quickly and efficiently
• Assist other team members when workflow requires.
• Assist in training new staff members in loan processing, as required.
• Assist in maintaining and updating procedure manual.
• Comply with State and Federal Regulations, as applicable.
• Utilize manuals and handbooks available to increase knowledge of business and to be effective in position. Stay aware of current changes and their effect on responsibilities.
• Loan Processors are required to fulfill their responsibilities with honesty, integrity, and professionalism and to maintain confidentiality of customer information.

Additional responsibilities as assigned.

Physical Demands and Work Environment

Ability to work in an office environment which may include many hours of computer and telephone usage. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

This position description is not to be construed as an exhaustive statement of duties, responsibilities, or requirements. Employees may be required to perform any other job-related instructions as requested by their supervisor, subject to reasonable accommodations.

By signing below, I acknowledge and understand the expectations and requirements of my role and agree to meet these duties to the best of my ability.

Requirements

Qualifications

To perform this job successfully, an Individual in this position must be able to perform each of the above essential duties satisfactorily and exhibit the values of the Company. In addition, the requirements listed below are representative of the knowledge, skill and/or ability required.

Be familiar with and comply with the provisions of the Bank Secrecy Act and USA PATRIOT Act as they relate to the functions of this position. Complete all required reports related to those acts and reports any observed violations or potential violations of those acts to a supervisor or other appropriate bank officer.

Be familiar with and comply with all federal and state banking regulations as applicable.

Experience and/or Education

• High School Diploma or Equivalent
• Specific knowledge as related to mortgage documents and regulations, Freddie Mac, Fannie Mae, FHA, Rural Housing and MSHDA with preferably two years’ experience.
• Specific knowledge as related to mortgage documents and regulations, Freddie Mac, Fannie Mae, FHA, Rural Housing and MSHDA with preferably two years’ experience.

Competencies

In addition to the Corporate Core Competencies, individuals in this position are expected to exhibit the following:

Written and Oral Communication – Effective written and oral communication skills required, with the ability to interface with Internal and external stakeholders and community partners. Has group presentation skills.

Quality – Demonstrates accuracy and thoroughness; monitors own work and the work of others to ensure quality

.Judgment – Displays willingness to make decisions; exhibits sound and accurate judgment; supports and explains reasoning for decisions; includes appropriate people in decision-making process. Makes timely decisions.

Initiative – Undertakes self-development activities; takes independent actions and calculated risks; looks for and takes advantage of opportunities; asks for and offers help when needed.