Bank - Mortgage Processor

Position : Mortgage Processor

Department: Administrative Support Workers

Reports To: Operations – Processing

Location: 7450 Campus Drive, Suite 210, Colorado Springs, CO 80920

Remote : Yes

Non-exempt : Yes

Compensation: $24.00 - $35.00 Hourly

Bank19, a division of First Bank and Trust of Memphis, offers a comprehensive benefit package and PTO (paid time off) for eligible employees. The benefit package includes Health, Dental and Vision Insurance, options to participate in a Health Savings Account, Flexible Spending Account, Life and AD&D coverage, voluntary Supplemental Life, voluntary Short-Term, Long-Term Disability and Supplemental insurance. In addition, eligible employees have the option to participate in a company retirement plan.

Role Overview

The Mortgage Processor is a vital operational role responsible for managing residential mortgage loan files from initial application through to conditional approval and closing. This position focuses on verifying the accuracy, completeness, and integrity of all financial, employment, and property data submitted by applicants. The ideal candidate possesses a sharp eye for detail, deep knowledge of automated underwriting requirements, and exceptional communication skills, acting as the critical link between Mortgage Loan Originators (MLOs), underwriters, borrowers, and third-party vendors to ensure smooth, compliant, and on-time closing experience.

Essential Functions

File Review & Verification: Conduct comprehensive reviews of newly submitted loan applications to verify assets, employment, income, and credit history in strict accordance with program guidelines.

Third-Party Coordination: Order and analyze mandatory third-party documentation, including property appraisals, title commitments, flood certifications, homeowners’ insurance, and tax transcripts.

Underwriting Preparation: Clear automated underwriting system (AUS) conditions (Desktop Underwriter/Loan Product Advisor) and assemble highly organized, fully documented loan packages for structural submission to the Underwriter.

Pipeline Management: Manage a rolling pipeline of 20–40 residential files simultaneously, meeting strict processing milestones to ensure purchase contract and lock expiration dates are honored.

Stakeholder Communication: Provide clear, proactive updates regarding loan status and missing documentation to borrowers, Loan Originators, and real estate partners throughout the lifecycle of the file.

Compliance Adherence: Ensure all files meet rigorous internal quality control measures as well as state and federal regulatory compliance standards (e.g., TRID, RESPA, Fair Lending).