Loan Processor

Middlesex Savings Bank; Westborough (MA); On-site; USD 40,000 - 60,000; Full time

Job summary

Middlesex Savings Bank in Westborough, MA is seeking a Loan Processor to manage the timely processing of mortgage and consumer loan applications. The ideal candidate will handle all aspects of application management, ensuring compliance with bank policies and regulatory requirements.

The role demands good organizational skills, attention to detail, and the ability to document and manage loan processing tasks efficiently. A High School Diploma and 1-2 years of experience are required for this full-time position.

Qualifications

• 1-2 years loan processing or related experience is required.
• Good word processing and PC skills.
• Must be detail oriented.
• Demonstrated organizational, customer service and communications skills.
• Must possess at least intermediate technology skills.

Responsibilities

• Process residential mortgage and consumer loan applications.
• Manage assigned pipeline to assure commitment dates are met.
• Document income, asset, credit, and collateral documentation.
• Generate required documentation such as commitment letters.
• Assist with the closing of loan applications.
• Train less experienced staff members.
• Maintain compliance of assigned pipeline with applicable regulations.

Skills

Good word processing and PC skills

Detail oriented

Organizational skills

Customer service skills

Communication skills

Intermediate technology skills

Education

High School Diploma or equivalent

Job description

Loan Processor

US-MA-Westborough

• Job ID: 5722
• Type: Full Time
• # of Openings: 1
• Category: Retail Lending - Retail Lending Operations Westborough Operations Center

Overview

Responsible for the timely and accurate processing of residential mortgage and consumer loan applications in conformance with established bank policies, objectives and regulatory requirements. Performs any functions, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers and co-workers.

Responsibilities

• Processes residential mortgage and consumer loan applications. Receives and opens applications. Prepares and delivers required disclosures within established timeframes. Orders various supporting documents such as appraisals, credit reports, flood certifications and title rundowns, and tracks the timely receipt thereof.
• Manages assigned pipeline to assure that commitment, rate lock and closing dates are met on purchase transactions, and established target dates for refinance transactions.
• Is the primary point of contact for applications after submission. Collects required fees and documentation. Keeps tracking screens and file notes up-to-date, and all parties (originator, underwriter, closer and/or attorney) informed as to the disposition of the request.
• Documents income, asset, credit and collateral documentation for compliance with bank and investor guidelines prior to submission to DU, LP or the assigned underwriter, notifying the customer, underwriter and/or originator of any deficiencies as appropriate.
• Generates required documentation such as commitment letters, attorney instructions, compliance disclosures and consumer loan closing documents.
• Assists with the closing of residential mortgage and consumer loan applications as may be required.
• Prepares and runs periodic reports.
• Performs a variety of general ledger activities (e.g. posting fees, balancing accounts, etc.).
• Responsible for the integrity of the data input into the loan origination system for all assigned loans, including HMDA data.
• Assists in the training of less experienced staff members.
• Performs all duties in accordance with bank policies, including the Information Security Policies and Procedures, as well as state and federal regulatory compliance guidelines. Attends and/or completes relevant courses and seminars.
• Responsible for maintaining compliance of assigned pipeline with applicable lending regulations, including but not limited to TRID, HMDA, Reg B, and Fair lending.
• Generates referrals for origination staff; assists in referral source development and provide referrals to other departments of the bank.
• Performs related and unrelated duties as may be required.

Qualifications

Education

• High School Diploma or equivalent is required

Work Experience

• 1-2 years loan processing or related experience is required

Knowledge, Skills, and Abilities

• Good word processing and PC skills.
• Must be detail oriented.
• Demonstrated organizational, customer service and communications skills.
• Must possess at least intermediate technology skills, including knowledge of word processing, database and spreadsheet applications.

Equal Opportunity Employer

Equal Opportunity Employer, including disability/protected veterans

Equal employment opportunity, including veterans and individuals with disabilities.

PI284974357