Consumer Loan Processor

State Street Bank; Quincy (IL); On-site; USD 42,000 - 66,000; Full time

Job summary

State Street Bank is seeking a Consumer Loan Processor to handle new loan submissions and provide daily administrative support to the Lender, including ordering required documents to process loans and coordinating closings within specified time frames.

Responsibilities include preparing loan documents, responding to inquiries, ordering titles and appraisals, ensuring file accuracy and compliance, and generating weekly reports.

Qualifications

• Bachelor's degree in economics, finance, or related field is preferred, along with a minimum of 2 year experience in banking, AND at least 1 year experience performing loan processing functions is preferred
• Strong time management, attention to detail, and problem solving are essential

Responsibilities

• Prepares accurate consumer loan documents in a timely manner
• Handles inquiries regarding loans and payments in a professional manner
• Orders required documents (titles, appraisals, disclosures, payoffs, credit reports, certificates, insurance) to complete the loan file
• Previews loan files for completeness and compliance
• Processes loan files for closing and mails adverse action notices as requested
• Schedules loan closings for lenders
• Maintains documentation through file maintenance
• Provides weekly and monthly reports to Lenders and senior management
• Performs other duties as assigned

Skills

Microsoft Office

LaserPro

Communication skills

Education

Bachelor's degree in economics, finance, or related field

Job description

Description

GENERAL DESCRIPTION

The Consumer Loan Processor is responsible for receiving and processing new loan submissions; and for providing daily administrative support to the Lender; including ordering required documents necessary to process loans, documentation preparation, maintaining the loan file, and coordinating the closing of the loan within a specified time frame.

DUTIES & RESPONSIBILITIES

• Prepares accurate consumer loan documents in a timely manner
• Handles internal and external customer inquiries, questions, and/or concerns regarding their loans, payments, etc in a professional manner
• Orders the required documents (such as titles, appraisals, loan disclosures, obtains payoffs & releases, credit reports, required certificates & insurance) necessary to complete the loan file
• Previews loan files for completeness, accuracy, and ensures they are within compliance standards
• Processes loan files for closing and/or mails the adverse action notices to borrowers as requested by the lenders
• Schedules loan closings for lenders as requested
• Ensures documentation is maintained by performing file maintenance on a routine basis
• Provides weekly and monthly reports to Lenders and senior management as requested
• Performs other duties as assigned

Requirements

EDUCATION &/OR WORK EXPERIENCE REQUIREMENTS

• A Bachelor degree in economics, finance, or related field is preferred, along with a minimum of 2 year experience in banking, AND at least 1 year experience performing loan processing functions is preferred

MENTAL & PHYSICAL REQUIREMENTS

• Ability to sit/stand/kneel/bend/for extended periods of time, lift up to 20 lbs on occasion, ability to analyze and resolve problems, possess strong time management skills, strong communication skills, attention to detail is critical

COMPETENCIES

• Possess proficiency with Microsoft Office products, proficiency with LaserPro is preferred but not required, strong oral and written communication skills .