Job Description
Job Description
Job Title: Loan Processor
Reports To: Chief Credit Officer
FLSA Status: Non-Exempt
Location: Wanamingo,MN
Position Summary
This position requires high attention to detail and the ability to perform a variety of loan tasks to ensure that mortgage loan application data and supporting documentation are complete, accurate and compliant within lending and regulatory policies. Job duties will be performed within established expectations, with an emphasis on providing a superior customer service experience for all customers, lenders, as well other contacts, both internal and external and submitting quality files for Underwriting within the established time frames.
Essential Duties:
· Have knowledge of TRID timing and disclosure and re-disclosure requirements.
· Assist with obtaining required information for mortgage loan applicants regarding verification of employment and deposits, appraisals, credit reports, title work, required insurance coverage, and any other pertinent information necessary for the loan file.
· Process and analyze documents received for all types of loans. Load and categorize documents into the loan origination software.
· Input required customer information into secondary market software system for continued follow-up.
· Order services such as title, appraisal, flood, etc.
· Obtain and analyze property insurance, flood insurance, condo insurance to ensure adequate coverage
· File lien perfection documents
· Prepare and submit loans to underwriting by gathering supporting documentation, verifying the information on the original application, and updating and resubmitting the loan based on verified documentation.
· Contact creditors for loan payoff figures for customers.
· Review closing documents for loans prior to closing and confirm adequate communication has been made to ensure at close conditions are met.
· Post-closing, follow-up on missing documentation and file completeness.
· Review files with lenders on a regular basis and assist with pipeline management.
· Arrange and coordinate loan closing with title companies, attorneys, loan officers and/or borrowers.
· Have knowledge of related compliance regulations such as RESPA, Reg B, Fair Lending, HMDA, etc.
· Analyze construction draws and required documentation
· Perform any other duties as requested by management to assist other departments, as necessary.
· Regular and dependable attendance is an essential function for this job.
· Employee will be expected to contribute to a positive working environment through words and actions.
· Employee will be expected to greet internal and external customers in a friendly and outgoing manner.
Skills and Qualifications
· High school diploma or equivalent: associate or bachelor’s degree preferred
· Minimum 2 years of loan processing experience
· Strong understanding of loan documentation requirements and compliance standards
· TRID, HMDA, Fair Lending, RESPA, REG B knowledge
· Excellent organizational skills and ability to work on multiple files and projects simultaneously
· Strong attention to detail
· Effective and professional communication skills, capable of interacting with borrowers, lenders, analysts, and other stakeholders
· Ability to work independently while collaborating in a team environment
Working Conditions
· Full-time, onsite position
· Participation in some after-hours community events expected
· Flexibility as needed to assist lenders in meeting bank and client needs
Job Type: Full-time
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Health savings account
- Paid time off
- Vision insurance
Work Location: In person