Consumer Loan Processor
About The Position
The Federal Savings Bank, a leading private bank and national lender, is seeking a Consumer Loan Processor to support the Consumer Loan Division in our Chicago, IL headquarters. The Federal Savings Bank Consumer Loan Processor is responsible for end-to-end processing of our secured HELOC, HELOAN, or unsecured personal loans. Their function is to review, analyze, and submit loan documents to Underwriting and Closing based on guidelines and with a focus on efficiency and quality. This position is based in our Chicago (Logan Square) corporate headquarters. Qualified candidates must reside a commutable distance at the time of application to be considered. Employee must be able to work onsite 3 days per week.
Requirements
- High school diploma required; 4-year college degree preferred
- 2+ years of processing experience processing purchase & refinance mortgages required
- Able to calculate self-employed and variable income
- Expert knowledge of agency and investor loan guidelines
- Expertise in processing conventional loans required; additional VA and FHA knowledge preferred
- Familiarity with Encompass or other similar loan origination software
- Proficient with Automated Underwriting (LP & DU) preferred
- Excellent oral and written professional communication
- Must be able to manage time effectively and meet SLAs
- Favorable credit and background required
- Flexibility with you schedule as you may be required to work extended hours to meet the needs of the business, especially during peak volume periods
Nice To Haves
- Experience processing Home Equity loans preferred
Responsibilities
- Daily utilization of Encompass and MeridianLink loan originations software
- Set and maintain proper expectations with all parties on the loan file
- Analyze credit, income, assets, and collateral documents prior to submitting to Underwriting
- Ensure loan files are complete and meet guidelines prior to Underwriting
- Clear loan conditions and communicate effectively with Sales, Processing, Underwriting, and Closing teams
- Order title, appraisal, hazard insurance, flood insurance, payoffs, and analyze them prior to closing (as applicable)
- Review and analyze title for all requirements and address any issues, insurance coverage for mortgagee
- Maintain loan file compliance while managing pipeline of various volume levels
- Work effectively under specific time constraints and meet end-of-month deadlines
- Complete the Bank's customer service training and apply it to all communication with borrowers, vendors, and internal team members
Benefits
- Medical, Dental, and Vision insurance
- HSA and FSA plan options available
- Company-paid life insurance
- Partial matched 401k
- 7 paid holidays
- PTO that increases with length of employment
- Employee Assistance Plan (EAP) for employee and their household
- Employee recognition on a national scale with incentives
- Employee appreciation events
- Big bank capability, small-bank feel
- Garage parking onsite
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
Number of Employees
1,001-5,000 employees
