Mortgage Loan Processor II

Bank of Utah; Missouri; On-site; USD 48,000 - 60,000; Full time

Benefits offered by this job

Great work-life balance

Competitive pay and benefits

401(k) with match

12 paid bank holidays + PTO

Volunteer opportunities

Awards and recognition

Job summary

Bank of Utah in Missouri is seeking a Full-Time Mortgage Loan Processor II to assist Loan Officers in the origination and processing of mortgage loans. You will maintain loan files to ensure compliance, coordinate closings and support junior processors when needed.

This role requires 1–3 years in mortgage loan processing, knowledge of FHA, VA, conventional and Utah Housing programs, IRS forms, and accurate income/asset verification. Strong communication and detail orientation are essential.

Qualifications

• 1-3 years experience in Mortgage Loan Processing.
• Good knowledge of FHA, VA, Conventional, Utah Housing and non-conforming loan programs.
• Good knowledge of IRS forms and schedules and can determine acceptable cash flow with little assistance.
• Good knowledge of title commitments and can resolve associated problems therewith with little assistance.
• Good verbal and written communication skills.
• Detail oriented.
• Able to submit files to underwriting with few conditions.
• Experienced in Windows based software.
• Pass Level II Processor Test.
• Experience with mortgage loan software programs.
• Good interpersonal and customer service skills.
• Time-management and organization skills.
• Ability to work with strict deadlines.
• Ability to explain technical concepts in simple terms.
• Ability to work in fast-paced environment.
• Willingness to learn new concepts to grow and advance

Responsibilities

• Performs initial file setup. If the file is not in LOS System, input the application information into the system.
• Prepares and sends initial application and disclosure package after L.O.’s approval. Very little assistance (VLA) needed.
• Analyzes initial paperwork to determine what items are needed to proceed with borrowers loan request.
• Indexes all borrowers documents into the correct document types in the LOS System.
• Determines with Loan Officer/Originator when to request AUS and reviews feedback for consistency.
• Reviews, analyzes, monitors, and maintains loan files for regulatory compliance from beginning to end.
• Accounts for receipts and expenditures on all loan files.
• Obtains income documentation and verifies accuracy and consistency.
• Coordinates loan closings with closing department, title company, borrowers, builders, realtors, etc.
• Attends essential functions and other duties as assigned

Skills

Verbal communication

Written communication

Attention to detail

Time management

Customer service

Willingness to learn

Education

High School Education

Tools

LOS System

Mortgage loan software

Windows-based software

Job description

Thanks for your interest in applying to the Bank of Utah. My name is Angie Vause, and I work as VP Mortgage Processing Manager. As an introduction to our company, the Bank of Utah was founded in 1952, and is one of Utah’s largest privately owned community banks. We were named S&P Global Top 20 Bank two years in a row and a Top 100 Fastest Growing Company.

Our Mission Statement

We strive to unlock the potential of our team members, clients, and community. We act with integrity in every decision, build trust through every interaction, and exceed expectations at every opportunity. We seek to responsibly create lasting prosperity today and for generations to come.

Job Opening Details

If our mission statement piques your interest, we encourage you to apply for the currently open position of Full-Time Mortgage Loan Processor II to work Monday - Friday. This Mortgage Loan Processor II assists Loan Officers/Originators in the origination/processing of mortgage loans. Maintains loan files to ensure files are in compliance and of investment quality. Coordinates loan closings. Acts in on-the-job training of Level I processors if a Level III processor is not available.

Qualifications

• 1-3 years experience in Mortgage Loan Processing
• Good knowledge of FHA, VA, Conventional, Utah Housing and non-conforming loan programs
• Good knowledge of all IRS forms and schedules and can determine acceptable cash flow with little assistance
• Good knowledge of title commitments and can resolve associated problems therewith with little assistance
• Good verbal and written communication skills
• Detail oriented
• Able to submit files to underwriting with few conditions
• High School Education
• Experienced in Windows based software
• Pass Level II Processor Test
• Experience with mortgage loan software programs
• Good interpersonal and customer service skills
• Time-management and organization skills
• Ability to work with strict deadlines
• Ability to explain technical concepts in simple terms
• Ability to work in fast-paced environment
• Willingness to learn new concepts to grow and advance

Regular Duties and Responsibilities

• Performs initial file setup. If the file is not in LOS System, input the application information into the system.
• Prepares and sends initial application and disclosure package after L.O.’s approval. Very little assistance (VLA) needed.
• Analyzes initial paperwork to determine what items are needed to proceed with borrowers loan request. Procures missing items from the appropriate parties.
• Indexes all borrowers documents into the correct document types in the LOS System.
• Determines with Loan Officer/Originator (L.O.) when to request Automated Underwriting System (AUS) and requests AUS when applicable. Examines AUS feed back to ensure data coincides with documentation in file.
• Reviews, analyzes, monitors, and maintains loan files for regulatory compliance from beginning to end of loan process. (VLA) Prepares the proper forms and inputs correct information in the computer on all incomplete, withdrawn, denied, and approved but not accepted files. (VLA)
• Accounts for receipts and expenditures on all loan files.
• Keeps data in computer up to date on each loan file.
• Determines what documentation is acceptable to verify borrowers income. Obtains proper income documentation and examines it for accuracy and consistency. Fills out income worksheets. (VLA)
• Examines all applicable IRS forms and schedules to determine cash flow of self-employed borrowers with some assistance.
• Determines what documentation is acceptable to verify borrowers assets for down payment and closing costs. Obtains and analyzes proper asset documentation. (VLA)
• Determines what type of credit report to obtain to properly verify credit and liabilities of borrower. Obtains and analyzes proper credit documentation. (VLA)
• Orders and analyzes Title Commitment and ensures that any and all easements, exceptions, etc. can be properly dealt with. (VLA)
• Reviews purchase contracts and addendums to determine the structure of the sale. Verifies accuracy of numbers in LOS system.
• Orders and analyzes appraisal to determine if property is an acceptable risk. (VLA)
• Orders Flood Certification and reviews for accuracy. Provides Flood notice to borrower in a timely manner when required. Obtains flood insurance when applicable.
• Orders CAIVRS, IDV, GSA’s and LDP’s – if a borrower needs to be cleared, knows what action to take to determine if borrower can be cleared. May need some assistance.
• Orders case number for FHA & VA loans.
• Scrutinizes and logs all incoming documentation. Upon analysis immediately requests further documentation if necessary. (VLA)
• Communicates with “key” people (loan officer/originator, borrower, builders/realtors, vendors) involved with the file the progress, any questions, problems, etc. on the file.
• Prioritizes and reviews files on a regular basis. May need to obtain input from L.O.
• Pre-underwrites/submits loan files to underwriting. Addresses any conditions that may arise in underwriting prior to underwriting. (VLA)
• Obtains correct PMI coverage when needed.
• Meets any and all underwriting conditions.
• Obtains hazard insurance with adequate coverage.
• Coordinates loan closings with closing department, title company, borrowers, builders, realtors, etc. and completes “Loan Closing Request Form.”
• Assists L.O. in preparing construction loan files for approval by the Construction Loan Committee.
• Assists L.O. in locking loans.
• Requests Mortgage Purchase agreement on all Utah Housing Loans.
• Attendance is an essential function of the job.
• Other duties as assigned

Benefits Of Working With Us

Bank of Utah's comprehensive benefits package includes:

• Great work-life balance, with a Monday-Friday schedule
• Competitive pay and benefits, including medical, dental and vision plans
• 401(k) plan and match up to 5 percent in our employee stock ownership program (eligibility requirements must be met)
• 12 paid bank holidays + paid time off, including paid parental leave
• Volunteer opportunities to make a difference in the communities where you work and live
• Awards and recognition to celebrate you and your colleagues for living the bank's values