Residential Lending Processor
Banterra Bank is seeking a Residential Lending Processor responsible for processing mortgage loan applications to closing. The role involves ensuring the accuracy and completeness of loan documentation while being well-versed in mortgage lending regulations and guidelines.
Responsibilities
- Review initial loan applications submitted by loan officers. Verify application data is complete and meets established mortgage rules and guidelines for type of loan for which borrowers have applied
- Review documentation such as credit report, pay stubs, tax returns, W-2s, bank statements, and any other documentation associated with loan file
- Maintain regular contact with loan officers, borrowers, area realtors, insurance agents, title companies (and other parties as needed) to provide loan status updates, obtain additional information, and/or help resolve any issues that may arise
- Request property appraisal, title commitment, flood certification, homeowner’s insurance and other required documentation. Once all required documentation is received, complete review and submit file for final approval
- Maintain familiarity with various laws, regulations, and general & soundness guidelines. Stay well-informed of requirements of federal, state, Freddie Mac regulations as well as FHA, VA, USDA, and all other investor loan guidelines
- Participate in continued mortgage compliance training including, but not limited to: Dodd-Frank Act, ATR/QM Rules, Truth in Lending Act, Real Estate Settlement Procedures Act (RESPA), Home Mortgage Disclosure Act (HMDA-Regulation C), Equal Credit Opportunity Act (ECOA-Regulation B), Fair Housing Act, Fair Credit Reporting Act, etc
- Develop and maintain an overall understanding of all functions performed with mortgage loan origination, booking, delivery, and servicing
- Provide assistance to lending staff as needed
- Assist in ensuring loan software and programs are performing at optimum level. Report and correct any issues that arise. Identify and attend training as necessary for continued knowledge
- Monitor mortgage loan pipeline to ensure files stay compliant with timing requirements including meeting closing dates. Report any issues on approaching deadlines to applicable parties
Skills
- High school diploma or equivalent
- One to three years' mortgage loan processing or related experience required
- Knowledge of Freddie Mac underwriting guidelines
- Broad knowledge of mortgage loan related functions
- Strong organizational skills and attention to detail
- Strong customer service orientation
- Ability to work as part of a team
- Ability to problem solve, prioritize tasks and meet required deadlines
- Ability to think critically and use good, sound judgment in decision-making
- Ability to write routine correspondence and communicate effectively and tactfully, orally and in writing with employees, customers, vendors and management
- Ability to respond to common inquiries or complaints from regulatory agencies, outside auditors and accountants, Board of Directors or other members of management
- Ability to define problems, collect data, establish facts and draw valid conclusions
- Must understand and comply with company policies and procedures
- Ability to oversee goals and projects and ensure they are completed in a timely manner
- Ability to maintain a friendly, helpful and courteous attitude when working with customers or co-workers under diverse conditions
- Ability to apply concepts such as fractions, percentages, ratios and proportions to practical situations
- Ability to interpret various ratios and relationships inherent in common or specialized financial reports
- Ability to project future results or consequences from different alternatives or variables
- Ability to use a calculator, computer and applicable software
- Ability to use Microsoft Internet Explorer and Microsoft Office programs, specifically Word, Outlook and Excel
- Experience with Encompass preferred
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