Consumer Loan Processor

GreenWay Bank • Van Wert, OH

4d

About The Position

A Loan Processor plays a crucial role in facilitating the loan application process, ensuring accuracy, completeness, and compliance with regulatory requirements. They are responsible for verifying borrower information, preparing loan files, and liaising with borrowers, loan officers, underwriters, and other stakeholders to expedite loan approvals and closings. Attention to detail, organizational skills, and ability to navigate loan processing systems are essential to the smooth and efficient operation of the lending process.

Requirements

• High school diploma or equivalent required; associate or bachelor's degree preferred.
• Minimum of 1-3 years of experience in loan processing, mortgage lending, or related field.
• Knowledge of loan processing procedures, documentation requirements, and regulatory compliance in the mortgage lending industry.
• Familiarity with loan origination software (LOS), automated underwriting systems (AUS), and mortgage servicing platforms.
• Excellent verbal and written communication skills.
• Excellent interpersonal and customer service skills.
• Excellent organizational skills and attention to detail.
• Excellent time management skills with a proven ability to meet deadlines.
• Strong analytical and problem-solving skills.
• Ability to prioritize tasks.
• Ability to function well in a fast-paced and rapidly changing environment.
• Proficient with Microsoft Office Suite or related software.

Responsibilities

• Loan Application Processing: Receive, review, and process loan applications submitted by borrowers, loan officers, or mortgage brokers. Input borrower information, loan terms, and transaction details into loan processing systems or databases. Verify completeness of applications, supporting documents, and producing the required regulatory disclosures.
• Document Collection and Verification: Organize and review borrower documentation, including income verification, employment history, asset statements, tax returns, and credit reports. Verify accuracy and authenticity of documents to meet underwriting and compliance standards.
• Order Third Pary Documentation: Order appraisal, flood certification and title work on the subject property. When the items return present to lender for review. Point out any issues that may need addressed.
• Loan Approval Coordination: Coordinate with loan officers, underwriters, and other stakeholders to facilitate loan approvals, resolve outstanding conditions, and obtain final loan approval. Communicate approval decisions and next steps to relevant parties.
• Compliance and Regulatory Adherence: Ensure compliance with lending regulations, investor guidelines, and internal policies throughout the loan processing workflow. Adhere to disclosure requirements, fair lending practices, and privacy regulations to protect borrower rights and mitigate risk.
• Closing Preparation: Prepare loan closing documents, including promissory notes, mortgages, and closing disclosures, in coordination with closing agents or attorneys. Verify accuracy of loan terms, fees, and funding instructions prior to loan closing.
• Customer Service: Provide exceptional customer service to borrowers, loan officers, and internal stakeholders throughout the loan process. Address inquiries, resolve issues, and proactively communicate updates or delays to ensure a positive borrower experience.
• Process Improvement: Identify opportunities to streamline loan processing workflows, improve efficiency, and enhance customer satisfaction. Collaborate with team members and management to implement process improvements, automation tools, and best practices.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED