Senior Mortgage Loan Processor

Old Second National Bank; Downers Grove (IL); Hybride; USD 37 000 - 50 000; Plein temps

Avantages offerts par ce poste

Hybrid work arrangement

Competitive pay

Benefits package

Résumé du poste

Old Second National Bank in Downers Grove, IL is seeking a Senior Mortgage Loan Processor to manage a robust loan pipeline and ensure accurate, compliant documentation across FHA/VA/USDA/CONV/HELOAN processes.

The role involves coordinating with mortgage loan officers, real estate partners, and underwriting, while mentoring junior processors and maintaining data integrity in the loan system. Hybrid work arrangement with base pay announced.

Qualifications

• High school diploma (or equivalent) and four or more years of loan processing experience
• Experience with FHA/VA/USDA/CONV/HELOAN loan processing and underwriting workflows
• Proficiency with loan processing software and Microsoft Office tools
• Knowledge of FNMA DU and FHLMC LP guidelines

Responsabilités

• Serve as liaison between borrowers, loan officers, realtors, attorneys and underwriting to support loan approval
• Collect and review documents for completeness and accuracy (appraisal, flood, title, statements, disclosures, etc.)
• Maintain a monthly pipeline of 30-40 loans; close ~20 loans per month
• Maintain data integrity for FHA/VA/USDA/CONV/HELOAN loans
• Organize loan files for underwriting and verify income/assets
• Review initial loan approval and clear conditions with the MLO
• Resubmit loans for clear-to-close
• Communicate daily with MLOs and Underwriters
• Maintain a higher pipeline of 40-50 loans; close ~35 per month
• Conduct pre-underwriting focusing on income/assets
• Provide Processing guidance as SME to junior staff

Connaissances

Loan processing software

Communication skills

Organization & time mgmt

MS Word & Excel

Teamwork

Formation

High school diploma or equivalent

4+ years loan processing experience

Outils

FNMA DU

FHLMC LP

Encompass

Description du poste

Who We Are

At Old Second, you're first! For more than 150 years, Old Second has consistently put businesses and individuals throughout the Chicago area first, and we're only getting started.

With great employees we've grown from a single location in the back of a general store to 50 locations and over $6 billion dollars in assets. At Old Second we embrace values that foster an environment of community and growth. Recently, we've been voted a Forbes Best-In-State Bank for Illinois by our customers. Be a part of something big as we continue our growth story together!

Position Overview

The Senior Mortgage Loan Processor will be responsible for processing mortgage loan applications, verifying and analyzing loan documents, and ensuring that all loan documents are accurate and compliant with applicable regulations. It requires strong knowledge of the loan process to meet elevated quantity and quality production standards. The Processor reports to the Loan Processing Manager and interacts regularly with Mortgage Loan Officers, Mortgage Operations, external business partners, and customers as appropriate.

Essential Job Functions

• Serve as a liaison between borrowers, loan officers, realtors, attorneys and underwriting to support loan approval.
• Collects/Orders appropriate documents and reviews to ensure they are complete and accurate including: Appraisal, flood, title, bank statements, homeowners insurance, verifications, credit, disclosures, AUS findings, condo documents, mortgage insurance, fraud system results, Early Check, and other third party vendors.
• Maintains a monthly pipeline of 30-40 loans, closing approximately 20 loans per month.
• Maintains data integrity for information entered into loan system for FHA/VA/USDA/CONV/HELOC and HELoans.
• Organizes loan files in preparation for underwriting and validates income and matches assets to the documentation in the system
• Reviews initial loan approval; works with the MLO to clear conditions.
• Resubmits loans for clear-to-close.
• Communicates daily with MLOs and Underwriters.

Additional Responsibilities for Senior Processor

• Maintains a higher volume monthly pipeline of 40-50 loans, closing approximately 35 loans per month.
• Conducts pre-underwriting work with a focus on calculating income and assets; addresses potential obstacles prior to submission to Underwriting.
• Serves as a Processing SME, providing Processing guidance and direction to less experienced processors and MLOs.

Minimum Requirements

High school diploma (or equivalent) and four or more years of loan processing experience; or equivalent combination of education and experience.

Competencies

• Loan processing software proficiency
• Strong written and verbal communication skills
• Strong organization and time management skills with excellent attention to detail and follow up
• Proficiency in Word, Excel, internet navigation, FNMA DU and FHLMC LP.
• Ability to work independently and as part of a team
• Maintains positive attitude, aptitude to lean, and the drive to grow in the mortgage business.

Preferred, but not required

• Focus in secondary market residential lending
• Proficient in Encompass

Location Details

This position is considered a hybrid role. With management approval, an incumbent may work a combination of remote and onsite work to perform the regular responsibilities of the role. Actual schedule requirements may vary based upon business needs.

Compensation & Benefits

Base pay: $26.75 - $36.05/ hour

Old Second is committed to fair and equitable pay practices. Pay is dependent upon the pay range and the incumbent's knowledge, skills and experience.

Benefits: How We Support You - Old Second

Thanks for considering Old Second!