Mortgage Loan Processor

Mmbba; Moosic, Northern (Lackawanna County, KY); Hybrid; USD 42,000 - 64,000; Full time

Job summary

Peoples Security Bank and Trust Company is seeking a Mortgage Loan Processor to support the residential mortgage processing function. You will verify documents, prepare files for underwriting, and coordinate with the underwriter on required reports.

Key duties include communicating with borrowers, following up on pending items, and delivering required documentation. Strong typing, regulatory knowledge, and two years of related experience are preferred.

Qualifications

• High school diploma or equivalent required; specialized banking education and training preferred; advanced degree beneficial.
• Must demonstrate strong communication, organizational and interpersonal relations skills; strong analytical skills; proficient typing and computer skills; knowledge of current mortgage lending regulations.

Responsibilities

• Verifies accuracy and completeness of loan 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 and coordinates reports (appraisals, verifications, IRS transcripts, etc.).
• Communicates with borrowers on required items and answers questions about the application process.
• Conducts regular follow-up on outstanding items with pending loan applications.
• Delivers declination documentation on non-originated loans and updates HMDA and file documentation.
• Prepares the file for final underwriting and updates system with appraised value, taxes, insurance, and HPML testing.

Skills

Strong communication

Organizational skills

Interpersonal skills

Analytical skills

Typing skills

Mortgage lending regulations

PSBT underwriting knowledge

Education

High school diploma or equivalent

Banking education and training preferred

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.