Loan Processor II - Residential & Consumer Lending

First Commerce Bank; New Jersey; On-site; USD 60,000 - 75,000; Full time

Job summary

First Commerce Bank is seeking an experienced Mortgage Processor to manage residential mortgage files from initial processing through closing. You will verify documents, coordinate with borrowers and title companies, and prepare disclosures in line with RESPA/TILA requirements.

The role requires 3–5 years of relevant experience, strong regulatory knowledge, and proficiency with Encompass 360 and MS Office. High attention to detail and ability to multitask in a fast-paced environment are

Qualifications

• Minimum 3–5 years of residential mortgage processing experience.
• Strong knowledge of RESPA, TILA, and HMDA timing requirements.
• Excellent analytical, reasoning, and organizational skills.
• Proficient PC skills including Microsoft Office and Encompass 360.
• Ability to manage multiple tasks in a fast-paced environment with professionalism and courtesy.

Responsibilities

• Verify required closing documents needed to close are in the file.
• Communicate with borrower about closing schedule and questions.
• Prepare Closing Disclosure compliant with TILA/RESPA requirements.
• Coordinate with title companies to gather data for disclosures.
• Verify closing documents are signed and dated per lender instructions.
• Prepare funds requests for loan disbursement to title company.
• Review post-closing packages and prepare loans for investor purchase.
• Enter loans into Banks Core system.
• Scan legal files to Encompass and ship secondary market loans to investors.
• Follow up, review, scan and submit final documents for each loan to investors.
• Track and clear suspense items from investors within deadlines.
• Adhere to regulatory compliance and complete training as assigned.

Skills

English proficiency

Reading & writing

Interpersonal skills

Time management

Microsoft Office

Encompass 360

Regulatory knowledge

Analytical skills

Detail oriented

Education

High School diploma or equivalent

Tools

LOS software

Job description

Education/Training: High School diploma or equivalent required.

Minimum of three (3) to five (5) years of experience in residential mortgage processing or a similar professional office environment required. Basic working knowledge of the mortgage industry and applicable regulations required. Skill(s): Proficient in English, reading, writing, grammar, and mathematics skills; proficient verbal and interpersonal communication skills; strong time management skills; proficient PC skills including Microsoft Office and Encompass 360 (or comparable LOS); thorough knowledge of Bank products and services; ability to manage multiple tasks in a fast-paced, changing environment with professionalism and courtesy; excellent analytical, reasoning, and organizational skills; detail-oriented with high accuracy; working knowledge of RESPA, TILA, and HMDA disclosure timing requirements.

Experience: A minimum of three (3) to five (5) years of residential mortgage processing experience required.

Essential Duties And Responsibilities

• Verify that required, accurate closing documentation needed to close are in the file
• Communicate, as point of contact, with borrower about closing schedule and answer questions about closing.
• Prepare compliant closing disclosure that adheres to TILA/RESPA requirements.
• Communicate with title companies to gather information for accurate closing disclosure preparation and coordinate delivery of the documents.
• Communicate with the title company on outstanding closing conditions required to fund the loan
• Verify that closing documents are signed and dated accurately and according to lender instructions.
• Prepare funds requests so that mortgage loan funds are delivered to the title company for funds disbursement.
• Review post-closing packages and prepare loans for final investor purchase.
• Board portfolio loans to bank core operation system.
• Responsible for reviewing Closing Disclosure, Hazard and Flood Insurance binders prior to funding.
• Responsible for completing Flood worksheets and verifying Flood and Hazard Insurance coverage to ensure adequate coverage and subject property.
• Responsible for completing funding sheets and loan set up sheets so that new loans can be entered into the Banks Core system.
• Scan all legal files to Encompass and ship all secondary market loans to investors electronically according to each investors checklist.
• Complete closed loan file review using Sold Loan Document Review Checklist.
• Follow up, review, scan and submit all final documents for each secondary market loan to all investors.
• Track, clear, and upload all suspense items from all investors within time frame given.
• Adheres to proper regulatory compliance practices inherent in this positions responsibilities by following departmental policies and procedures, completing compliance training as assigned and questioning any areas of uncertainty regarding proper regulatory processes.