Loan Processor - Consumer Direct

The Federal Savings Bank; United States; On-site; USD 45,000 - 55,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

HSA/FSA options

Life insurance

401k with matching

Education reimbursement

Employee loan discount program

Paid time off

Job summary

The Federal Savings Bank is seeking an experienced mortgage loan processing professional to support our Consumer Direct team. This full-time role handles processing after conditional approval, clears conditions with borrowers, coordinates with third parties, and resubmits to Underwriting.

Evening or weekend hours may be required depending on business needs. Qualified candidates have 4+ years of mortgage processing experience, especially with refis and VA cash-outs, and proficiency with

Qualifications

• 4+ years of mortgage processing experience
• Experience managing a pipeline of refinance loans
• Extensive experience processing VA cash-out refis
• Knowledge of agency loan programs and investor criteria
• Correspondent lending experience preferred
• Ability to calculate income (including self-employed)

Responsibilities

• Own loan files in your pipeline and manage end-to-end processing
• Utilize Encompass loan origination system daily
• Set and maintain expectations with all parties on the loan file
• Analyze package for completeness to meet investor guidelines
• Clear loan conditions and communicate with Sales, Processing, and Underwriting teams
• Order third-party items and review title for requirements and issues
• Maintain loan file compliance while handling pipeline
• Work under time constraints and meet month-end deadlines
• Engage in bank customer service training and apply to borrower communications

Skills

Mortgage processing

Communication skills

Time management

Interpersonal skills

Education

High school diploma or equivalent

4-year degree preferred

Tools

Encompass loan origination system

Job description

The Federal Savings Bank ("TFSB") is actively searching for an experienced mortgage loan processing professional to support our Consumer Direct team. This position is responsible for processing of loans after conditional approval, communicating with borrowers to clear conditions, contacting third parties, and resubmitting to Underwriting.

Job Type

Full-time

Preference for qualified applicants located in Pacific time, however all applicants residing in the United States are encouraged to apply. Evening or weekend hours may be required based on the needs of the business.

Duties And Responsibilities

• Assume full ownership of loan files in your pipeline
• Daily utilization of Encompass loan origination system
• Set and maintain proper expectations with all parties on the loan file
• Analyze package for completeness to ensure loan file meets investor guidelines
• Clear loan conditions and communicate effectively with Sales, Processing, and Underwriting teams
• Order 3rd party items, review & analyze title for all requirements and address any issues, insurance coverage for borrower
• Maintain loan file compliance while managing pipeline as various volume levels
• Work effectively under specific time constraints and meet end-of-month deadlines
• Complete Bank's customer service training and apply to everyday communications with borrowers and mortgage bankers

Requirements

• High school diploma or equivalent required; 4-year degree preferred
• 4+ years of recent mortgage processing experience required
• Experience managing a pipeline of primarily refinance loans
• Extensive experience processing VA cash-out refis (required)
• Recent Correspondent Lending experience strongly preferred
• Knowledge of agency loan programs, multiple investor loan programs, and underwriting criteria for government and conventional offerings
• Proficiency with Encompass loan origination system
• Ability to calculate income, including self-employed
• Excellent interpersonal, communication, and time management skills
• Ability to operate effectively & efficiently in high-pressure situations
• All applicants must be flexible with their schedules as they may be required to work after-hours, especially during peak volume periods

What We Offer

• Medical, Dental, and Vision insurance plans
• HSA and FSA plan options
• Company-paid life insurance
• 401k with partial match
• Complimentary Employee Assistance Program (EAP)
• Paid time off that increases with tenure (40 hrs. sick time; 80 hrs. Your Time Off to start)
• 7 paid bank holidays
• In-house virtual training opportunities to broaden your industry knowledge
• Education Reimbursement
• Employee Home Loan Discount Program
• Employee recognition on a national scale
• Frequent employee appreciation events
• Big bank capability, small-bank feel

Compensation

• $45,000 - $55,000 annual base salary plus monthly bonus
• Hired applicant will be eligible for a monthly incentive tied to individual production and achieving outlined goals

The Federal Savings Bank is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.