Sr. Mortgage Loan Processor

People Drive Our Success

Are you enthusiastic, highly motivated, and have a strong work ethic? If yes, come join our team! At Cathay Bank – we strive to provide a caring culture that supports your aspirations and success. We believe people are our most valuable asset and we proudly foster growth and development empowering you to achieve your professional goals. We have thrived for 60 years and persevered through many economic cycles due to our team members’ drive and optimism. Together we can make a difference in the financial future of our communities.

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General Summary

Following established policies and department procedures, the Senior Mortgage Loan Processor is responsible for processing residential mortgage and home equity/HELOC loan applications while providing advanced support to Mortgage Loan Originators (MLOs), underwriters, and processing staff. This role serves as a subject matter expert within the department, assisting with training, workflow coverage, and ensuring loans are processed accurately, efficiently, and in compliance with Bank policies and regulatory requirements.

Essential Functions

• Take ownership of managing a pipeline of residential mortgage and HELOC loans from application through closing.
• Provide coverage for other team members' loan pipelines during absences, including vacations and sick leave, to ensure continuity of service and timely loan processing.
• Serve as a trainer and mentor for new or less experienced Mortgage Loan Processors by allowing them to work alongside active loan files and providing guidance on departmental processes, procedures, and best practices.
• Proactively review submitted documentation for accuracy, completeness, and potential issues that may affect loan approval or closing.
• Ensure timely processing of all assigned loan files in accordance with established departmental service level agreements (SLAs).
• Communicate effectively with borrowers, Mortgage Loan Originators, underwriters, title companies, escrow agents, and third-party vendors to obtain required documentation and satisfy underwriting conditions.
• Conduct thorough reviews and evaluations of all documentation related to the loan file to ensure compliance with Bank policies, investor guidelines, and regulatory requirements.
• Act as a liaison between MLOs, underwriters, closing agents, title companies, and other related parties throughout the loan process.
• Provide and maintain exceptional customer service to both internal and external customers through professional, responsive, and solution-oriented communication.
• Assist management with workflow prioritization, problem resolution, and process improvement initiatives as needed.
• Identify and escalate complex loan scenarios, compliance concerns, or operational issues to management in a timely manner.
• Maintain current knowledge of mortgage products, lending regulations, underwriting guidelines, and departmental procedures.
• Support department goals by promoting operational efficiency, quality control, and a collaborative team environment.

Qualifications

• Education: Associate degree preferred or experience equivalent.
• Experience: Minimum 3 to 5 years mortgage lending and banking experience with good knowledge of residential lending regulations and loan processing in a multi-state lending environment.
• Skills/Ability:
• Advanced knowledge of residential mortgage and HELOC processing
• Strong understanding of underwriting guidelines and regulatory requirements
• Leadership, coaching, and mentoring abilities
• Excellent organizational and pipeline management skills
• Strong attention to detail and quality control
• Effective verbal and written communication skills
• Problem-solving and critical-thinking capabilities
• Ability to prioritize multiple deadlines in a fast-paced environment
• Commitment to exceptional customer service and teamwork
• PC proficiency, including working knowledge of mortgage loan origination system (LOS),
• Microsoft Office Suite (Word, Excel, Outlook), and other mortgage banking technologies
• Preferred: Bilingual, paperless processing experience, and strong knowledge on processing portfolio mortgage loan products.

Other Details

$30.00 – $34.50 / hour

Pay determined based on job-related knowledge, skills, experience, and location.

This position may be eligible for a discretionary bonus.

Cathay Bank offers its full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).

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Cathay Bank is an Equal Opportunity and Affirmative Action Employer. We welcome applications for employment from all qualified candidates, regardless of race, color, ethnicity, ancestry, citizenship, gender, national origin, religion, age, sex (including pregnancy and related medical conditions, childbirth and breastfeeding), reproductive health decision-making, sexual orientation, gender identity and expression, genetic information or characteristics, disability or medical condition, military status or status as a protected veteran, or any other status protected by applicable law.

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