Residential Loan Processor II

Forcht Bank - Hamburg; Lexington (KY); On-site; USD 55,000 - 70,000; Full time

Benefits offered by this job

401(k) retirement plan

Company paid life insurance

Paid time off

Paid holidays

Community service leave

Job summary

Forcht Bank is seeking a Residential Loan Processor II in Kentucky to support internal customers by preparing disclosures, reviewing loan files for underwriting, and assembling closing packages. You will work with third-party vendors for appraisals, title work, and verifications, ensuring files meet bank policy and regulatory guidelines.

The role requires strong attention to detail, ability to communicate with loan officers and vendors, and the capacity to back up a senior processor when needed.

Qualifications

• Thorough knowledge of various portfolio residential loan products, policies, procedures and lending regulations.
• Ability to read, interpret industry information such as customer financial statements, credit reports, and tax returns.
• Broad knowledge of applicable federal and state banking regulations.
• Ability to deal effectively with loan officers, support staff and third party vendors.
• Ability to work independently and carry out assignments to completion.

Responsibilities

• Prepare early disclosures in accordance with timing requirements outlined in regulatory guidelines.
• Place orders for appraisals, title work, flood determinations, tax transcripts, and verifications of employment with third parties.
• Review residential files to ensure all necessary documentation for underwriting and closing.
• Coordinate with loan officers to clear conditions for closing.
• Prepare and review closing packages for all residential loan types.

Skills

Residential loan products knowledge

Attention to detail

Regulatory compliance awareness

Communication with loan officers

Team collaboration

Problem solving

Education

High School or better

Associates or better in Finance or related field

Tools

Microsoft Excel

Microsoft Word

Bank information systems

Internet research

Job description

As an 8-time winner of Best Places to Work (in Kentucky), we understand the importance of creating a workplace culture that gives our bankers a purpose each and every day. That purpose is to find unique ways to deliver our brand of happier banking service to customers and other employees. We’re looking for self-starters, outside-the-box thinkers, customer service wizards, small business enthusiasts, and servants within their community. Notice we didn’t say bankers. At Forcht Bank we value diverse and unique thinking that could help us serve our customers better. That’s exactly who we are. What other banks do you know that have an Ice Cream Machine to hand out free ice cream and 18 foot tall forks outside their locations?

WHO WE ARE

While we opened our doors in 1985 offering traditional banking services, we soon realized we needed to deliver them in a nontraditional way. Financial services are a competitive industry, with over 5,000 banks and 5,300 credit unions. That’s a lot. We understand that we must differentiate ourselves by offering a unique combination of banking, consisting of exceptional customer service and with a twist of great digital banking tools to help our customers manage their basic needs. This is part of our happier banking recipe. Another component is encouraging our bankers to exemplify our values daily.

We believe in:

• Giving back to our communities.
• Embracing change and evolution
• Building relationships based on trust and transparency
• Celebrating and embracing our diversity

THE PERKS

Our commitment is to grow and train happier employees, providing them with the skills to deliver happier banking and create happier customers. This is how we create happier employees at Forcht Bank:

• Comprehensive benefits package to include:
• 401(k) Retirement Plan with Company Match (fully vested from day 1)
• Company PaidLife Insurance
• Minimum of 15 days of Paid Time Off (PTO) after 60-day introductory period
• Nine Paid Holidays, plus Birthday Leave and Community Service Leave
• Employee celebrations
• Professional recognition
• And more!

Job Summary

The Residential Loan Processor II is responsible for assisting internal customers by preparing early disclosures, reviewing residential loan files in preparation for underwriting, preparing residential closing packages, and assisting in loading the closed loan to the core system. The Residential Loan Processor II is also responsible for ensuring residential loan files meet regulatory and bank policy guidelines.

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.

• Prepare early disclosures in accordance with timing requirements outlined in regulatory guidelines
• Work directly with third-party vendors to place orders for appraisals, title work, flood determinations, tax transcripts, and verifications of employment
• Review residential files to ensure all necessary documentation needed for underwriting and closing has been obtained
• Work with loan officers and other loan personnel to ensure all conditions for closing have been cleared
• Correspond with third parties such as attorneys and insurance agencies to schedule closings and to obtain documentation needed to ensure the Bank obtains a valid lien on the collateral.
• Prepare and review closing packages for all residential loan types
• Scan/Upload loan documentation to imaging system and interface to the core system
• Assist in the clearing of trailing and critical documentation exceptions
• Review accounting reports to ensure items are cleared in a timely manner
• Aid in questions from other bank staff
• Serve as a back-up to the Residential Processor I as needed

Qualifications

The requirements listed below are representative of the knowledge, skills, and/or abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Thorough knowledge of various portfolio residential loan products, policies, procedures and lending regulations
• Ability to read, interpret industry information such as customer financial statements, credit reports, and tax returns.
• Broad knowledge of applicable federal and state banking regulations
• Ability to deal effectively and tactfully with loan officers, other support staff and third party vendors
• Ability to work independently and to carry out assignments to completion within the parameters of instruction given and standard accepted practices
• Ability to deal effectively and tactfully with loan officers
• Ability to communicate orally with others to convey information effectively
• Strong attention to detail
• Ability to handle sensitive documents and other confidential information
• Proficient in the use of Microsoft Office products including Microsoft Excel and Microsoft Word, Bank information systems, and Internet research.
• Ability to effectively present information to management and internal loan committees in verbal and written format.
• Ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
• Ability to give full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times
• Ability to work with a team and members of other departments of known concepts.
• Ability to work with mathematical concepts such as ratio and trend analysis.
• Ability to define and solve problems with a variety of variables.

Physical Demands

The physical demands and work environment characteristics described herein are representative of those that must be met by an employee to successfully perform the essential duties of this job. Reasonable accommodation will be made to enable individuals with disabilities to perform the essential functions.

• Ability to listen to and understand information and ideas presented through spoken words and sentences.
• Ability to communicate information and ideas in speaking and writing so others will be able to understand.
• Ability to identify and understand the speech of another person.
• Ability to see details at close range (within a few feet of the observer).
• Ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
• Ability to sit for long periods of time.
• Ability to demonstrate manual dexterity through use of typing on a keyboard, sorting through paperwork, reaching and grabbing objects.
• Ability to stand, bend, and lift up to 10 pounds.
• Ability to operate standard business equipment such as a fax, computer, printer, copier, etc.
• Ability to look at a computer screen for several hours.
• Ability to travel to other locations as needed.
• Must be able to work on a flexible schedule that at times may include late working hours or weekend hours.

Other Requirements

• Travel between the various banking locations may be required.
• May be required to attend activities outside the bank to stay abreast of new developments, best practices, and statutory and regulatory changes.
• Pursuant to the Drug Free Workplace Act of 1988, all employees must remain drug free and alcohol free when reporting to work and while engaged in any work related activities.
• Must adhere to all Bank Secrecy Act regulations and requirements.

Note

This document and the statements contained within it are intended to describe the general nature and level of work being performed by the employee assigned to this position. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of the employee.

EOE

We are committed to ensure fair and equal treatment for everyone we employ and as such, we are a proud Equal Opportunity Employer. We value diversity and believe employment, training, and promotional opportunities should be available to all persons without regard to race, color, gender (including gender nonconformity, gender identity, status as a transgender individual, and sexual orientation), sex (including pregnancy), age, religion, national origin, ethnicity, physical or mental disability, genetic information, political affiliation, protected veteran status or membership in the armed services, or any other consideration that is protected by applicable federal, state, and local law.

Qualifications

Education

Required

High School or better.

Preferred

Associates or better in Finance or related field.

Experience

Required

3 years:

Three (3) or more years in banking or legal office with related loan documentation experience.

Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.