Loan Processor

Loan Processor

Location: McMinnville, Oregon - Onsite
Hours Per Week: Full Time - 40

About Us:

First Federal is a community based Mutual Savings Bank, owned by our depositors, and has been operating in Yamhill County for 100+ years with 6 full service banking branches. We are committed to supporting a vibrant community by providing banking solutions and giving back through community volunteerism and corporate philanthropy. In fact our 87 employees have recorded over 2,800 hours of community volunteerism in 2022.

At First Federal, ensuring our employees are taken care of is a top priority. We provide a comprehensive employee benefit package worth $868.00 per month at zero cost to our employees' for individual coverages for Medical, Dental, Vision, EAP, Life and LTD insurance. Insurance eligibility starts at the first of the month after your hire date. Additional company benefits include, 401(k) participation after 90 days with a company match, paid federal holidays, paid sick and vacation time and 8 hours of paid volunteer time.

Intent:

Loan Processor I is the entry position in the loan processing support series. Incumbents at this level must possess a thorough knowledge of all consumer and mortgage lending products and all financial and regulatory information required. Incumbent may specialize in mortgage loan processing or perform assignments including both consumer and mortgage loan processing.

Principal Accountabilities

Loan Processing: Responsible for organizing and completing departmental projects and work assignments and adheres to department and Association policies, procedures and regulatory guidelines.

• Complete initial review of new loan files for proper forms, signatures and all initial disclosures.
• Ensure that disclosures are completed within regulatory time frames.
• Set up file and complete initial document preparation. Send verifications of employment and deposits and run credit report.
• Reviews verifications for errors, discrepancies, and uninitiated whiteout or changes on verifications upon receipt.
• Manage a pipeline of loans in process, updating files and documenting activity as it occurs.
• Prepare and send pre-qualification letters if applicable, complete commitment or adverse action letters as appropriate.
• Assemble loan file and complete tasks related to ordering documents required by policy to complete a loan file. (i.e. flood check, updating commitment log, ordering HMDA information, appraisals, preliminary title reports, CC&R's by-laws, articles of incorporation, insurance etc.)
• Send final application and associated loan documents to borrower for signature.
• Works up final loan documents for submission to underwriter/loan officer and manage file to closing. Prepares files for QC process, resolve QC issues in a quick and efficient manner.

• Maintain familiarity with the requirements of income property lending including the need for assignments of rent, UCC filings etc.
• Maintain familiarity with different types of borrowers and guarantors and the unique document requirements of each.
• Maintain familiarity with the unique documentation requirements for the following situation; collateral improvements on leased ground, lot loans, loans with balloon payments, adjustable rate mortgage, special disclosures, condominiums, home owners association agreements and riders to deeds of trust.
• Complete and obtain signatures for modification, extension and skip-payment agreements.
• Assist customers and other financial institutions with loan payoff requests.
• Provide back-up support to Loan Receptionist and Loan Servicer as needed.

Minimum Job Requirements:

• A., degree in Business Administration preferred or High School Diploma and a minimum of one to three years of loan processing and/or servicing experience (consumer, mortgage or commercial real estate).
• Knowledge of basic lending and underwriting policies and procedures including state and federal lending regulations. Understanding of secondary marketing practices and requirements (FHLMC, FNMA etc.)
• Demonstrated knowledge of regulatory guidelines surrounding loan originations and customer loan disclosure requirements.
• Ability to operate various office equipment including personal computer, printers, Fax machine, 10-key adding machine, multi-line telephone, laminator, copy machine, etc.
• Effective written and verbal communication skills.
• Solid understanding of Microsoft Word and Excel required. Proficient in the use of Outlook and company loan systems.
• Demonstrated effective time management and organizational skills.
• Effective interpersonal skills to relate to a variety of managers, executives, directors, customers, and employees; public relations skills; tact, diplomacy, and patience.
• Ability to work effectively in a team environment as well as accomplish work assignments without direct supervision.
• Notary Public licensing required.
• Ability to manage highly confidential information.
• Ability to use good judgment and make appropriate decisions.
• Ability to work on several projects simultaneously and with a variety of employees, managers, executives, etc.
• Ability to work under pressure and tight deadlines with constant interruptions.
• Ability to meet bonding requirements for employment purposes.
• Licensing Requirements : Employees assigned to have direct mortgage loan applicant/borrower contact will be required to 1) register with the Nationwide Mortgage Licensing System & Registry and complete a MU4R filing notice, 2) to provide fingerprints and 3) to authorize a criminal background screen through the Registry in compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). First Federal will facilitate the individual registration and pay all applicable registration fees.

Physical Demands: Duties require the ability to sit for up to 90% of time, to stand and walk for up to 10% of time, bend/stoop, Squat/crouch, kneel and reach up and down. Incumbents will lift boxes and loan files up to 20 pounds in the performance of assigned duties.

Pre-Employment Requirements: The position for which you are applying is one that will have access to confidential customer financial information. The following pre-employment screens are required.
• Pre-employment drug screen (excluding Marijuana)
• Consumer credit report

Deadline for Application: Open until filled.

First Federal is an Equal Opportunity Employer and Affirmative Action Employer committed to a diverse workforce. First Federal is an E-Verify Employer. Please contact Human Resources at View email address on click.appcast.io or View phone number on click.appcast.io should you need assistance completing the application for employment.