Entry Level - Loan Operation Assistant

MIDLAND FEDERAL SAVINGS AND LOAN ASSOCIATION; Bridgeview (IL); On-site; USD 36,000 - 48,000; Full time

Job summary

Midland Federal Savings and Loan Association in Illinois seeks an entry-level Loan Processor to support the loan lifecycle. You will collect and verify borrower documents, organize the virtual file, and prepare materials for underwriting.

Responsibilities include coordinating with borrowers, real estate agents, title companies and internal teams, ordering third-party reports, assisting closings, and keeping precise loan data and logs for post-closing audits.

Qualifications

• Education: Post-secondary education in business administration, finance, accounting, or related field.
• Entry-level; prior customer service or loan experience is a plus.
• Strong written and verbal communication.

Responsibilities

• Collect, request, and verify borrower documents and organize the virtual file.
• Review loan applications for completeness and accuracy before underwriting.
• Prepare, scan and process loan documents for approval and compliance.
• Communicate with borrowers, real estate agents, title companies, and internal teams to provide status updates.
• Respond to client inquiries and maintain professional communication.
• Order third-party reports (appraisals, title searches, flood certifications, credit reports) as needed.
• Assist with loan closings and track insurance and exceptions and coordinate scheduling.
• Maintain accurate loan data and communication logs in the institution’s processing software.
• Create and maintain physical and electronic loan files; post closing/funding details.
• Conduct post-closing file audits to ensure completeness and proper archiving.

Skills

Strong organizational skills

Attention to detail

Effective communication

Multi-tasking

Education

Post-secondary education in business administration, finance, accounting, or related field

Tools

Microsoft Office

Loan processing systems

Job description

Key Responsibilities

• Loan File Preparation & Verification

1. Collect, request, and verify borrower documents (pay stubs, bank statements, tax returns- organizing the virtual file)

1. Review and verify loan applications for completeness and accuracy before submission to underwriting

1. Prepare, scan and process loan documents for approval and compliance as required

• Coordination & Communication

1. Communicate with borrowers, real estate agents, title companies, and internal teams to gather information and provide status updates

1. Respond to client inquiries and maintain clear, professional communication

• Loan Process Support

1. Order third-party reports (appraisals, title searches, flood certifications, credit reports) as needed

1. Assist with loan closings, prepare final documents, tracking insurance and exceptions and coordinate scheduling

• Recordkeeping & Systems

1. Maintain accurate, up-to-date loan data and communication logs in the institution’s processing software

1. Create and maintain physical and electronic loan files; post closing/funding details

1. Conduct post-closing file audits to ensure completeness and proper archiving.

Qualifications & Skills

• Education: Post-secondary education in business administration, finance, accounting, or related field preferred

• Experience: Entry-level; prior customer service, administrative, or loan-related experience is a plus

• Skills:

1. Strong organizational and time management abilities

1. Proficiency with office software (Microsoft Office, loan processing systems)

1. Attention to detail, confidentiality, and ability to multi-task

1. Good written and verbal communication skills