Loan Processing Representative
The Loan Processing Representative plays a critical role in supporting the Bank's lending operations by onboarding new loan applications received through various channels and ensuring a seamless, compliant, and customer-focused experience throughout the loan process. This position is responsible for reviewing and analyzing loan files for completeness, accuracy, and qualification; gathering and ordering required documentation; preparing disclosures; coordinating with borrowers, loan originators, underwriters, attorneys, and other third-party stakeholders; and managing a pipeline of loan applications from application through closing. The ideal candidate demonstrates exceptional attention to detail, strong analytical and communication skills, and a commitment to regulatory compliance, while maintaining current knowledge of conventional lending guidelines, federal and state regulations, and Bank policies and procedures. This role requires a customer service mindset, the ability to manage multiple priorities effectively, and a dedication to delivering accurate, timely, and high-quality loan processing support.
Essential Duties and Responsibilities:
- Responsible for onboarding new loan files. Confirms accuracy of loan data and completes an analysis of the loan file to determine if additional documentation is required.
- Reviews new loan files for completeness, accuracy, and qualification
- Works directly with prospective borrowers and advises them of product requirements, pricing, policies, and guidelines.
- Manages their pipeline and serves as the primary contact for all parties and third-party stakeholders throughout the process with ongoing communication.
- Responsible for effectively communicating with loan origination, underwriting staff and external stakeholders (vendors, attorneys, borrowers, etc.) as needed.
- Enhanced attention to detail with communication and analytical skills necessary to complete accurate initial disclosures.
- Maintains up to date knowledge of FHLMC and conventional loan rules. In addition to federal and state regulations.
- Orders all applicable documentation for files (including but not limited to appraisals, verifications, tax transcripts, etc.)
- Responsible for adhering to established procedures and making recommendations for updates on an ongoing basis and assisting with procedure updates and maintenance.
- Reviews HMDA and Mavent reports for accuracy and makes changes as needed.
- Responsible for scheduling closings and preparing closing packages for consumer loans.
- Verifies all conditions are met and loans meet all regulatory guidelines prior to closing.
- Other related duties as requested.
Education and Experience:
Associate's degree (A. A.) or equivalent from two-year college OR technical school; OR six months to one-year related experience and/or training; OR equivalent combination of education and experience
Skills Required:
- Excellent organizational skills and attention to detail
- Strong analytical and problem-solving skills
- Excellent verbal and written communication skills
- Discretion and dedication to protecting the financial privacy of clients, business partners, and employer.
Certifications / Licenses and/or registrations:
This position requires National Mortgage Licensing System (NMLS) registration; and ability to obtain said license after a period to be determined by decisionmaker. Must be able to successfully complete the registration process, which includes, but is not limited to, undergoing a criminal background and credit check and must remain in compliance with the NMLS license regulations and rules.
Computer Skills: Microsoft Office - Word and Excel
Work Environment and Physical Demands:
The working conditions and physical demands described here are representative of those that must be met by an associate to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the associate is regularly required to sit, use hands to sort, write and keyboard, and to listen and speak. The associate is frequently required to reach, walk, stoop, crouch. The associate is occasionally required to stand, lift, bend, drive and travel.
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