Mortgage Loan Processor

Peoples Security Bank & Trust Company; Moosic (Lackawanna County); On-site; USD 42,000 - 62,000; Full time

Job summary

Peoples Security Bank & Trust Company is seeking a Mortgage Loan Processor to support the Residential Mortgage Department. The role involves verifying loan documents, preparing files for underwriting, and coordinating with underwriters and clients to maintain timely processing.

The position requires strong communication and organizational skills, knowledge of mortgage regulations, and the ability to manage multiple tasks while ensuring accuracy and compliance.

Qualifications

• Strong communication, organizational and interpersonal skills.
• Analytical skills and proficiency with typing and computer use.
• Knowledge of current mortgage lending regulations.
• Working knowledge of loan documents and PSBT underwriting guidelines.

Responsibilities

• Verify accuracy and completeness of mortgage applications.
• Prepare initial file for underwriting review.
• Coordinate with underwriter to ensure reports and fees are ordered.
• Communicate with borrowers and mortgage professionals about status.
• Follow up on outstanding items and disclose properly.
• Prepare files for final underwriting and deliver commitments when applicable.
• Maintain security of department and account information.

Skills

Communication

Organizational skills

Interpersonal relations

Analytical ability

Typing skills

Computer skills

Mortgage lending regulations

Loan documentation knowledge

Underwriting guidelines

Education

High school diploma

Banking education/training preferred

Business-related advanced degree beneficial

Job description

Description

General Responsibilities

Responsible for performing a variety of duties to support the mortgage loan processing function of the Loan Administration, Residential Mortgage Department: verifying and reviewing loan documentation, making sure all necessary documents are in place; submitting loan files to underwriting for approval; communicating with clients and related parties about loan status; coordinating work within the department as well as with other departments; reporting pertinent information to the immediate supervisor; responding to inquiries or requests for information; following timelines and meeting critical deadlines; assisting the immediate supervisor with administrative tasks to support department operations; maintaining security of department and account information.

Essential Duties

• Performs a variety of duties to support the mortgage loan processing function of Residential Mortgage lending of which the following are illustrative:
• Verifies accuracy and completeness of applications input by Mortgage Professionals.
• Prepares initial application file for underwriting review utilizing the Mortgage Originator checklist.
• Provides a second review of the Loan Estimate.
• Works in conjunction with the Mortgage Underwriter to ensure all required reports: appraisals, property searches, flood determinations, verifications of employment, rent and mortgage, IRS transcripts, and MI are ordered. Process fees received.
• Communicate with borrowers on items required for the loan file and answers their questions about the application process.
• Conducts regular follow-up on outstanding items with pending loan applications.
• Communicate with Mortgage Professionals on status of the application and proper disclosure.
• Prepares the file for final underwriting; reviews all documentation received for the file and updates the system. This includes appraised value, liens, property taxes, asset updates, homeowners’ insurance, and HPML testing.
• Deliver declination documentation on non-originated loans including letters to the borrower, updating HMDA, and file documentation required by regulations.
• Following final approval, deliver the commitment letter to interested parties; provides appraisal report copy to borrower.
• Work in conjunction with the Mortgage Underwriter to redisclose the application as required in compliance with regulations.
• Communicates with the mortgage broker on the processing of government loans.
• Abides by the current laws and organizational policies and procedures designed and implemented to promote an environment which is free of harassment and other forms of illegal discriminatory behavior in the work place.
• Cooperates with, participates in, and supports the adherence to all internal policies, procedures, and practices in support of risk management and overall safety and soundness and the company's compliance with all regulatory requirements, e.g. RESPA, Reg Z, Community Reinvestment Act (CRA), Equal Credit Opportunity Act, etc.
• Responds to inquiries relating to his/her particular area, or to requests from other bank personnel, customers, etc., within given time frames and within established policy.
• Maintains the security of the department, its personnel, and account information, both computerized and documents.
• Provide back-up to other processors when out of the office or requiring assistance or support

Ancillary Duties

• Performs tasks which are supportive in nature to the essential functions of the job, but which may be altered or re-designed depending upon individual circumstances.

Physical Requirements

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. While performing the essential job functions of this position, the employee is regularly required to sit, stand, talk, hear, walk, use hands and fingers, handle or feel objects, and reach with hands and arms. At times required to stoop, kneel, bend, crouch and lift up to 25 pounds. This position requires regular use of a computer.

Peoples Security Bank and Trust Company is an Equal Opportunity Employer

Requirements

Education/Training:

A high school diploma or equivalent required; specialized banking education and training preferred; advanced degree from a business school beneficial.

Skill(s):

Must demonstrate strong communication, organizational and interpersonal relations skills; strong analytical skills; proficient typing and computer skills; knowledge of current mortgage lending regulations; a working knowledge of documentation used in various loan accounts; a working knowledge of loan products, features, benefits and services which impact residential mortgage lending including a complete understanding of PSBT underwriting guidelines.

Experience:

A minimum of two (2) years’ experience in related residential mortgage positions normally required.