Counteroffer Letter Processing Specialist

At The Federal Savings Bank, the Counteroffer Letter Processing Specialist works closely with leadership to ensure counteroffer letters are sent to mortgage applicants in accordance with the Equal Credit Opportunity Act (ECOA). This individual communicates regularly with the internal Loan Committee to identify which loans requiring committee approval will also require a counteroffer letter. They also work closely with the loan team on loans that require a counteroffer letter and assist in sending and receiving the counteroffers. The Counteroffer Letter Processing Specialist will also maintain reports on loans that require counteroffers be sent and received to ensure timely delivery of disclosures sent after a counteroffer letter is signed.

Candidates in proximity to either our Chicago, IL  or Oak Brook, IL offices are preferred and would work a hybrid schedule (3 days in office/2 days remote). Remote applicants will also be considered and are encouraged to apply.

Duties and Responsibilities:

• Monitor the active loan pipeline to identify loans that require a counteroffer letter be sent to the applicant(s). This monitoring includes:

-  Reviewing reports that show loans where Loan Committee has approved with additional requirements.

- Updating loan files as required in the Counteroffer Letter process to ensure the individual loan teams are informed.

-  Sending Counteroffer Letters to applicants and monitoring for timely signing to adhere to the TRID redisclosure timeliness rules.

-  Managing and updating Counteroffer Letter reports for record keeping and transparency.

• Communicates professionally with sales and operations team members:

-  Ensure the loan team is aware that a Counteroffer Letter is required and when it is sent for applicant(s) signature.

-  Effectively communicate the need for the Counteroffer Letter and the process to the individual loan teams when required.

-  Work independently with the Loan Committee when required to ensure Counteroffer Letters contain the required information resulting from a credit decision.

•  Promotes innovation and enhancement of current processes and procedure:

-  Consistently evaluate the Counteroffer Letter process and provide improvement and enhancement ideas that add efficiency to the process.

-  Work closely with Operations Leadership, Loan Committee, and Sales to identify and incorporate efficiency solutions that improve the Counteroffer Letter process.

What We Offer:

• Generous time-off and sick pay that increases with tenure
• 7 paid bank holidays
• Health, Dental, and Vision insurance
• HSA and FSA plans available
• Company-paid life insurance
• 401k with partial match
• Employee Assistance Program (EAP)
• Education Reimbursement
• Home Loan Discount program
• Ongoing in-house training opportunities to broaden your industry knowledge
• Employee recognition on a national scale
• Small bank culture with big bank capabilities
• Career advancement - we promote from within!

• High school diploma or equivalent
• Mortgage operations/loan pipeline management experience strongly preferred
• Experience with ECOA and other applicable mortgage regulatory requirements preferred
• Encompass LOS experience preferred
• Ability to independently manage time and take ownership of a process
• Exceptional written and oral communication
• Detail-oriented
• Interest in knowledge growth and skill development

The Federal Savings Bank is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.