RE Loan Processor

Department: Real Estate

Reports to: Susan Davison

 

 

FLSA Status: Non Exempt - Full time

Grade: The grade of the position for each branch is determined by branch size and employee skills/experience. Contact the Human Resources Director

 

 

Statement of Hire:

 

 

At the Bank of the Pacific, we are committed to delivering memorable service beyond the customer’s expectation, to include both external and internal customers. We consistently demonstrate our values through teamwork, open communication, integrity, honesty and respect for others. Additionally, we will maintain a professional appearance through dress, conduct and an orderly work area.

A successful candidate will possess these qualities and be enthusiastic, professional and of high ethics. They will embrace our Mission, Vision and Values and actively contribute to our success.

 

 

Job summary:

 

Responsible for accurate and timely processing of residential mortgage loans in compliance with secondary market guidelines. Duties include reviewing and verifying residential loan documentation to ensure data is complete and meets established guidelines for the loan program. Reviews and analyzes automated underwriting findings and documentation provided by borrower. Works directly with underwriter and closer to ensure accurate completion and delivery of loan file in a timely manner. Communicates loan status to loan representatives and other involved parties (buyer, seller, realtor, and title company representatives if applicable).

 

Principal Responsibilities:

 

1. Assumes responsibility for accurately verifying and evaluating the credit worthiness of potential borrowers

a. Reviews new loan applications in accordance with investor’s loan programs

requirements, Bank standards, and related legal and regulatory requirements.

b. Verifies and evaluates employment history, income, assets, and liabilities . Reviews title

and appraisals, obtains adequate hazard insurance coverage and if applicable, flood

insurance coverage.

c. Resolves loan application problems. Assists loan representatives with addressing credit

report problems, low appraisals, income documentation and high debt ratios.

d. Reviews information for completeness and accuracy. Clarifies missing or questionable

information. Follows up with outside sources of outstanding documents. Ensures that all

necessary items are available for underwriting. Tracks development of information to

ensure compliance with Fannie Mae/Freddie Mac guidelines along with applicable

investor guidelines.

e. Ensures all lending conditions have been satisfactorily met prior to closing. Submits

loans for final approval.

e. Communicates status of loans to loan representatives and if applicable, to buyer, seller,

realtor, and title company.

f. Prepares files for closing and completes HMDA review form.

g. Completes necessary documentation and correspondence for loans that are adversed.

h. Ensures that other loan processing functions are completed in accordance with

established policies and procedures.

2. Assumes responsibility for reviewing appraisals and ensuring that values are well

documented

a. Evaluates and assesses the collateral and capacity of mortgage loans. Reviews the

appraisal to ensure the risks are appropriate and meet guidelines of the applicable

loan type and program.

3. Assumes responsibility for maintaining professional business relationships with customers and mortgage professionals

a. Resolves or refers requests and problems promptly and courteously. If applicable,

notifies customers of additional information required.

b. Maintains and conveys the Bank’s professional reputation.

4. Responsible for maintaining effective coordination and communication with Bank personnel and management

a. Assists and supports mortgage loan personnel as needed.

b. Attends meetings as required.

c. Keeps management informed of area activities and of any significant problems.

5. Assumes responsibility for related duties as required or assigned

a. Maintains and updates knowledge of investor loan programs and underwriting

guidelines.

b. Completes special projects as assigned.

c. Keeps work area clean, secure and well maintained.

 

Compliance:

 

All employees are accountable for compliance with all laws, regulations and adherence to established internal controls and procedures when performing their job duties. Each employee is expected to be familiar with the legal and regulatory requirements and internal controls affecting his or her job responsibilities. It is the affirmative duty of each employee to carry out these responsibilities at all times in a manner that complies with all applicable legal and regulatory requirements and internal controls. All employees shall be responsible for communicating upward, problems in operations, noncompliance with the code of conduct, or other policy violations or illegal actions. Employees must participate in required training on pertinent compliance laws and regulations as required by the Bank of the Pacific.

All employees will be committed to maintaining a high level of compliance with the Bank Secrecy Act and Anti Money Laundering, USA PATRIOT Act and Financial Recordkeeping regulations recognizing that all three acts are important tools in federal efforts to combat organized crime, terrorism and drug trafficking.

 

Education / Experience:

 

a) High School diploma or equivalent

b) One year experience in mortgage processing

c) Understanding of the bank policies and procedures

d) Service-Plus Certified

 

Skills / Knowledge / Abilities:

 

a) Understanding of mortgage loan processing functions including FHA, VA, and conventional

lending

b) Knowledge of mortgage related requirements, procedures, and underwriting criteria

c) Good verbal and public relations skills

d) Strong typing abilities

e) Good basic math skills

f) Able to use related computer applications

g) Good organizational, analytical and communication skills

 

Working Conditions / Environment / Potential Hazards:

 

· Must be able to work in a fast paced working environment

· May be necessary to work extended hours

· Periodic travel required

 

Physical Requirements:

 

· Able to sit for an extended period of time

· Able to lift up to 10 lbs.

 

 

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