Residential Mortgage Processing Pro

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

Benefits offered by this job

Health insurance

401(k) match up to 10%

Life insurance

Disability insurance

Pension plan after 2 years

Generous vacation and paid time off

Job summary

The Institution for Savings in Newburyport, MA is seeking a Loan Processor – Residential Lending to support the mortgage team. This role manages residential loan files from application to closing, ensuring accuracy, compliance and timely communication with all parties involved.

The ideal candidate has a Bachelor’s degree or 1–2 years related experience, knowledge of mortgage products, and proficiency with loan origination systems and document management tools.

Qualifications

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

Responsibilities

• Verifies application data is complete and satisfies the Bank’s residential lending policy.
• Works with loan originators to ensure all required documents are received and follows up on missing documents.
• Records receipt of all loan documents in the Bank’s LPS.
• Prepares disclosures for 1–4 family residence loans within regulatory timelines and delivers to applicants.
• Orders and reviews credit reports and flood determinations.
• Submits requests to appraisal department and monitors receipt of reports.
• Verifies documents are authentic and documents underwriting comments.
• Prepares loan commitment letters for signature and delivery to borrowers.
• Works with originators to satisfy any outstanding loan conditions.
• Reviews file for HMDA compliance and updates LPS as needed.
• Notifies closing representative when file is ready for closing.

Skills

Attention to detail

Organizational skills

Written communication

Verbal communication

Independent work

Team collaboration

Mortgage knowledge

Education

Bachelor’s degree

1–2 years related experience

Equivalent education/experience

Tools

Loan origination systems

Document management tools

Job description

The Institution for Savings in Newburyport, MA is seeking a Loan Processor – Residential Lending to support the mortgage team. This role manages residential loan files from application to closing, ensuring accuracy, compliance and timely communication with all parties involved.

The ideal candidate has a Bachelor’s degree or 1–2 years related experience, knowledge of mortgage products, and proficiency with loan origination systems and document management tools.