Mortgage Loan Analyst

Bank of Missouri; Perryville (MO); Remote; USD 50,000 - 75,000; Full time

Job summary

The Bank of Missouri is seeking a Mortgage Loan Analyst to assist in providing quality loans. The position involves evaluating residential mortgage applications, ensuring adherence to lending regulations, and maintaining a comprehensive pipeline of loan files. Ideal candidates will have prior mortgage experience and a strong understanding of financial assessment processes.

Benefits

Competitive Salary

Personal Paid Time Off

401K and Employee Stock Option Plan

Generous Medical, Dental, Vision, Life, and Disability Insurance

Fitness Reimbursement

Learning, Development and Growth Opportunities

Qualifications

• High school diploma or GED required.
• Two years of mortgage experience and knowledge of lending policies is required.
• Experience with Encompass, Silverlake, and LaserPro preferred.

Responsibilities

• Pre-underwrite and analyze mortgage application files.
• Maintain a pipeline of at least 20 files at a time.
• Ensure compliance with GSE and investor guidelines.

Skills

Lending Regulations

Risk Assessment

Financial Analysis

Education

High school diploma or GED

Two years mortgage experience

Tools

Encompass

Silverlake

LaserPro

Job description

Job Details

Job Location: Remote - Perryville, MO

Position Type: Full Time

Salary Range: Undisclosed

Job Category: Banking

Description

Working at The Bank of Missouri

At The Bank of Missouri we know it takes great people to support the communities we serve! We are passionate about caring for people and communities, and know how to recognize and reward our employees for their talent and contributions. When you work at The Bank of Missouri, you not only get to help others, but you also get the resources, opportunities and support to grow your own career.

About our Company

Staying in business for more than 125 years is hard. Really hard. If you think about it, we’ve endured many events, like the Great Depression and two World Wars. We’ve survived and thrived, thanks to our great customers and communities. We were founded on core values of accountability, community service and financial conservatism. Those principles are the reason we are still in business today. Caring for people and communities is our foundation!

We’ve built a reputation of being financially secure and community focused. We are an independent community bank and fully intend to stay that way. We are big enough to accommodate any financial need, yet small enough to give every customer the personal treatment they deserve.

About this job:

As a Mortgage Loan Analyst, you will assist in providing quality loans for the bank by pre-underwriting and evaluating residential mortgage application loan files originated by financial institution personnel by performing mortgage loan processing and analyzing responsibilities associated with the documentation requirements necessary in granting credit and following regulatory guidelines to the Bank’s borrowers.

Here are some of the great benefits you will enjoy as a member of our team:

• Competitive Salary
• Personal paid time off, as eligible and paid holidays
• 401K and Employee Stock Option Plan, as eligible
• Generous medical, dental, vision, life and disability insurance
• Fitness reimbursement
• Learning, development and growth opportunities

As a Mortgage Loan Analyst you will:

Maintain educational and professional expertise by completion of relevant on-line or in-house training, and/or through attendance at job related seminars, conferences, and workshops.

Maintain confidentiality of customer account information. Follow established policies and procedures in responding to inquiries and requests.

Have good understanding of lending regulations required to process compliant loans, such as, but not limited to TILA, RESPA, HOEPA, Fair Lending, HMDA etc.

Work independently to maintain a pipeline at a minimum of 20 files at any given time.

Work independently to review new applications and issue preliminary conditions within 24-48 hours of receipt of file

Work independently to maintain a consistent turnaround time of 24-48 hours for document review and updating conditions throughout the process of a file and meet all multi touch underwriting deadlines on a consistent basis.

Have a good understanding of GSE guidelines, investor guidelines and overlays along with the bank’s lending policy, The Bank of Missouri Mortgage Product Guide and ATR/QM policies to effectively work with loan originators to find the best loan product for the customer.

Process and Pre-Underwrite secondary market loans as well as portfolio bank loan products. Perform risk assessment and analysis to determine marketability and eligibility of loans to be sold to correspondent investors, Fannie Mae, Freddie Mac, FHA, VA and Rural Development. Identify issues and red flags pertaining to a loan file and independently and sufficiently resolve such situations.

Independently analyze applicant's financial status, credit and property evaluation to determine feasibility of granting loan. Assess quality of loan to be originated by bank by verifying, evaluating and calculating applicant's income and employment information, review credit history and calculate the value of a borrower's collateral and assets. Sufficiently address trends such as fluctuating income, declining income, etc.

Review files for missing documentation, verify all documentation in file meets GSE, investor guidelines, the bank’s lending policy, and ATR/QM Policy. Communicate effectively with the originators, processors, closers, and supervisor regarding additional file requirements within 24-48 hour of receipt of said documentation.

Prepare processing documents for new and refinance consumer real estate loans

Obtain homeowner’s insurance binders or copies of policies from borrowers or insurance agents as evidence the property has sufficient coverage.

Maintain Disclosure Tracking Log and the accuracy within.

Prepare completed loan files to submit file to the underwriter for review to ensure file is properly documented and eligible for sale on the secondary market, if applicable.

After file has been underwritten, verify/complete any additional requirements made by the underwriter to obtain the clear to close prior to submitting the file to Closers for settlement.

Prepare Initial and Final Closing Disclosures within the timeframe required to assure loan closes as scheduled.

Process withdrawn/denied files verifying file is compliant and all required paperwork is complete.

When needed: Prepare all required preliminary disclosures correctly and within the time frame allotted by regulation, re-disclosing when necessary.

When applicable: Satisfy any loans in suspension.

Qualifications for Success:

High school diploma or general education degree (GED) plus two years mortgage experience and/or training. Knowledge of lending and underwriting policies and procedures, including guidelines issued by FNMA, FHLMC, TRID and HPML/ATR/QM. Experience in Encompass, Silverlake and LaserPro is preferred.

The Bank of Missouri is an Equal Opportunity Employer

Qualifications