Residential Mortgage Loan Processor

Institution for Savings; Newburyport (MA); On-site; USD 54,000 - 60,000; Full time

Benefits offered by this job

Medical, dental, and vision insurance

401(k) match up to 10%

Life insurance

Disability insurance

Pension plan after 2 years

Paid time off

Job summary

The Institution for Savings is seeking a full-time Loan Processor in Newburyport, MA to support the residential lending team. You will manage files from application to closing, ensure accuracy and regulatory compliance, and maintain timely communication with all parties involved.

The role requires attention to detail, organizational skills, and the ability to work independently as part of a team in a collaborative in-office environment.

Qualifications

• Bachelor’s degree or 1–2 years related experience.
• Knowledge of residential mortgage products and guidelines.
• Familiarity with loan origination systems and document management tools.
• Excellent attention to detail and organizational skills.
• Strong written and verbal communication; able to work independently and in a team.

Responsibilities

• Verify data completeness per residential lending policy.
• Coordinate with originators to obtain required documents.
• Log loan documents in the bank's processing system (LPS).
• Prepare disclosures within regulatory timelines for 1–4 family loans.
• Order and review credit reports and flood determinations.
• Submit appraisals and monitor receipt of reports.
• Document underwriting comments and prepare loan commitment letters.
• Respond to outstanding loan conditions with originators.
• Ensure HMDA compliance and update processing system as needed.
• Notify closing team when file is ready to close.

Skills

Mortgage knowledge

Attention to detail

Organizational skills

Communication

Teamwork

Independent work

Education

Bachelor's degree

Tools

LPS (loan processing system)

Job description

The Institution for Savings is seeking a full-time Loan Processor in Newburyport, MA to support the residential lending team. You will manage files from application to closing, ensure accuracy and regulatory compliance, and maintain timely communication with all parties involved.

The role requires attention to detail, organizational skills, and the ability to work independently as part of a team in a collaborative in-office environment.