MORTGAGE LOAN PROCESSOR

Job Description

Job Description

WHITAKER BANK

MORTGAGE LOAN PROCESSOR

The position Loan Processor is responsible for assisting the Mortgage Loan Originators (MLO) and Loan Administrative Assistant in gathering, organizing, and reviewing required documents and reports for a Mortgage Loan Application and Home Equity Line of Credit Application to be considered for approval under Whitaker Bank loan policy and product guidelines. Assists in preparing approved loan requests for closing. The position of Mortgage Loan Processor is required to be fully knowledgeable and skilled in all areas of mortgage loan processing, secondary market loan processing and home equity line of credit processing closing and funding. 

Assures compliance with all Bank policies and procedures, as well as, all applicable state and federal banking regulations.

1. Accepts assigned Mortgage Loan and Home Equity Line of Credit applications and related file in the bank’s Mortgage Loan Operating System, Encompass

2. Orders and reviews appraisal, flood certification, title search, title insurance, homeowner’s insurance, and verifications employment. 

3. Reviews and verify that income documentation has been uploaded in file (pay stubs, W2’s, 1099’s tax returns, social security awards letter, and related income documentation) per bank underwriting guidelines is in file. 

4. Determines if any additional documentation is needed. 

5. Exports secondary market loan files for upload to investor website and works directly with investor loan processor and underwriters to provide proper due diligence items to achieve clear to close. 

6. Obtains the necessary loan approval information from the lender, and verifies loan is approved under appropriate Whitaker Bank lending authority chart. 

7. Runs HPML test on all applicable loans. 

8. Verify all HMDA data is accurate for reporting. 

9. Completes compliance reviews to ensure documentation in file is complete.  

10. Assisting in coordinating closing with bank approved attorney or customer requested attorney. 

11. Prepares final document package and funding for all portfolio loans and HELOCs and sends to attorney or MLO for closing. 

12. Operates computer terminal or personal computer to process loan activity, determine balances, and resolve problems within given authority.

13. Types routine letters, reports and forms. 

14. Completes online compliance training as assigned and required.

15. Treats people with respect; keeps commitments; Inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.

16. You are to conduct yourself professionally and as a bank representative while at work and in public.

17. Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.  

18. Follows policies and procedures; completes administrative tasks correctly and on time; supports the Bank’s goals and values; benefits the bank through outside activities.

19. Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions.  The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.

The position of Mortgage Loan Processor performs duties specific to the position and other functions as assigned.

The position of Mortgage Loan Processor is not responsible for the supervision of any employee(s), however the incumbent is required to provide leadership, training and support to less experienced loan department personnel. The incumbent in this position may perform duties in the absence of the Department Supervisor.

The incumbent is in a non-confined office-type setting in which he or she is free to move about at will.   The position includes driving a Bank or personal owned vehicle approximately one percent  of the time which includes exposure to the outside weather elements and moving mechanical parts.  It may include some minor annoyances such as noise, odors, drafts, etc.  

The incumbent in the course of performing this position spends time writing, typing, speaking, listening, lifting (up to ten  pounds), driving, carrying, seeing (such as close, color and peripheral vision, depth perception and adjusted focus), sitting, pulling, walking, standing, squatting, kneeling and reaching.

The incumbent for this position may operate any or all of the following: telephone, cellular telephone, copy and fax machines, adding machine (calculator), scanner and image systems, encoder, typewriter, personal computer and related printers, or other equipment as directed.

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.   

The incumbent in this position must be able to accommodate to reading documents or instruments, detailed work, problem solving, customer contact, reasoning, math, language, presentations, verbal and written communication, analytical reasoning, stress, training, multiple concurrent tasks, and constant interruptions.

These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.

• Associate’s Degree (AA) or equivalent from a two-year college or technical school; or one-year related experience and/or training; or the equivalent combination of education and experience. Work related experience should consist of a credit review or loan processing background. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be business or financial industry related.

• Intermediate level of work experience, knowledge and training in all loan servicing activities and terminology.

• Intermediate knowledge of related state and federal banking compliance regulations, and other Bank lending policies.

• Intermediate knowledge of title policies and related loan regulations such as TRID, HMDA and other Bank lending policies on loans to directors.

• Intermediate skills in personal computer operation; word processing, spreadsheet, specialty software programs and Encompass Mortgage Loan Origination software.

• Intermediate typing skills to meet production needs of the position.

• Intermediate math skills; calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.

• Basic supervisory skills to handle appropriate staff in the absence of the Department Supervisor.

• Effective oral, written and interpersonal communication skills with the ability to apply common sense to carry out instructions, interpret documents, understand procedures, write reports and correspondence, and speak clearly to customers and employees.

• Ability to deal with difficult problems involving multiple facets and variables in non-standardized situations.

• Effective organizational and time management skills.

• Ability to work with minimal supervision while performing duties.

• Current KY driver’s license and a vehicle with appropriate insurance coverage if required to drive in the course of performing assigned duties and responsibilities.

Management reserves the right to change this position description at any time according to business needs.