Mortgage Loan Processor

Our work environment is fast-paced and requires team members to provide excellent customer service, be meticulous, to learn quickly and have strong organizational skills. Most importantly, we want our team members to have a positive attitude and enjoy their job and their co-workers.

Team members are expected to strongly support the Bank's Strategic Plan and to perform their job duties in accordance with, and in the spirit of the Bank's Mission Statement and Organizational Values.

Individuals are responsible for processing daily, weekly, or monthly operational duties as listed.

The Mortgage Loan Processor works closely with loan originators and the underwriter and is primarily responsible for receiving, processing and computer input of information supplied on loan applications, assembling completed documentation files for submission to underwriters and maintaining customer/third-party referrers contact throughout this process.

The goal of a mortgage loan processor is to have a reputation for uploading complete and accurate files so that the underwriter has all the information needed to decide on the loan. It is important to ensure that work will not be delayed due to inconsistencies, inaccuracies, or missing documents within a loan fi le. Therefore, it is imperative that a mortgage loan processor understands documentation requirements, analyzes documents to ensure they meet product guidelines, maintain neat and orderly fi les, understand how to use loan origination system, document loans with complete and thorough notes, communicate with all parties with consistency, transparency, and honesty, document conversations with all parties, develop a system for following up and communicating with the originator and underwriter, use processing and office technology tools efficiently, and be familiar with the websites that provide agency and investor guidelines and documentation requirements.

Essential Duties and Responsibilities

•Review documentation presented by originators and ensure that it is accurate, complete, and consistent.

•Request additional documents to support the loan application.

•Confirm that the licensed originator provided all disclosures to the borrower within the time required by federal regulation.

•Ensure that the loan fi le meets all product guidelines.

•Obtain verification of deposit documentation provided by independent, third parties, used to verify that the information contained on the loan application is true and accurate such as:

establishes that the applicant has sufficient cash to meet settlement needs and send requests to financial institutions to verify assets.

•Obtain verification of employment documentation provided by independent, third-parties, used to verify that the information contained on the loan application is true and accurate such as: the applicant's employer to substantiate the employment information supplied in the mortgage loan application, stability of the applicant's source of income, and applicant's ability to repay the mortgage loan.

•Obtain loan documentation which includes documents such as paystubs, W-2s, tax returns, bank statements, and IRS 4506T tax transcripts.

•Order an appraisal according to the loan type and pull the credit report if needed.

•Input appraisals into automated system, inclusive of detailed information for property.

•Run the loan through the automated underwriting system (DU/LPA) for loan approval and documentation requirements, as necessary.

•Update the loan origination system as documents are received and re-running the AUS findings, as necessary.

•Remain alert for valid change of circumstances that trigger redisclosure requirements.

•Ensure that borrower communications and updates are managed in a timely, consistent, and professional manner.

•Provide a complete loan file to the underwriter for efficient validation and underwriting.

•Review underwriting conditions; Satisfies all conditions received from the Underwriter and ensures that approval falls within the established lending guidelines.

•Issue weekly updates to borrowers, lenders, realtors, and closers; prepare ECOA to send to customer if loan denied; informs borrowers, realtors, builders and closer of status of loans.

•Schedule closings with title agencies.

•Calculate all fees and escrows associated with closing and balances the numbers.

•Prepare and deliver the closing disclosure in advance of closing.

•Create a properly executed, quality loan package that meets regulatory requirements and investor guidelines.

•Prepare the funding approval of each loan and submits wire transfer to the Servicing department for loan funding.

•Deliver closing instructions, final closing disclosure, and settlement documents to the settlement agent.

•Attend Closings, as necessary.

•Verify proper execution of a closed loan, post-closing, to ensure all documents were correctly signed and filed.

•Satisfy all conditions found post-closing, by an outsourced auditor.

Knowledge, Skills, and Abilities

Experience

6 months to 2 years of similar or related experience, including preparatory experience In-depth knowledge of mortgage lending guidelines and regulations.

Education/Certifications/License

High School Education or GED

Interpersonal Skills

A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/ or highly confidential nature. Communications may involve motivating, influencing, educating, and/or advising others on matters of significance. Typically includes subject matter experts as well as first level, to mid-management.

Other Skills

Qualifications To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Professionalism Approaches others in a tactful manner; reacts well under pressure, treats others with respect and consideration regardless of their status or positions, accepts responsibility for own actions; follows through on commitments. Professional appearance and attire. Work area organized with a professional atmosphere. Teamwork Balances team and individual responsibilities; contributes to building a positive team spirit; supports everyone's e ff orts to succeed. Mathematical Skills Ability to calculate fi gures and amounts such as discounts, interest, commissions. Ability to add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions, and decimals. Reasoning Ability to apply common sense and understanding to perform instructions furnished in written, oral, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.

ADA Requirements

Physical Requirements

Physical Demands Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 50lbs. Must be capable of climbing/descending stairs in emergency situation. Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours whenever required or requested by management. Must be capable of regular, dependable, and timely attendance.

Working Environment

Work Environment Must be able to routinely perform work indoors in climate-controlled shared work environment with moderate noise.

Mental and/or Emotional Requirements

Mental and/or Emotional Requirements Must be able to perform job functions independently and with limited supervision. Must work effectively as part of a team. Must be able to read and conduct various written instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be able to perform basic financial calculations with accuracy. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must

be able to perform responsibilities with composure under stress of deadline, requirements for extreme accuracy and quality and/or fast pace. Must be capable of exercising highest level of discretion on confidential matters.

Acknowledgement

Nothing in the position’s description restricts management's right to assign or reassign duties and responsibilities to this job at any time.

Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. This Job description is not a contract and should not be construed as a guarantee of employment for any period of time.

First Federal Bank & Trust is an Equal Opportunity Employer and does not discriminate against employees or applicants based on race color, religion, sex/gender, national origin, disability, age, or any other category protected by-law.