LOAN PROCESSOR I

Traditional Bank, Inc.•Mount Sterling, KY

6d•$19 - $27•Onsite

About The Position

This role is responsible for processing application disclosures and other related documents for all consumer 1-4 family residential loan applications. The position also processes all closing documents for personal, commercial, real estate, and credit line loans on a daily basis for all bank locations. Additionally, the Loan Processor I prepares completed loans for data entry and handles all necessary accounting entries per transaction.

Requirements

One to three years’ experience in banking or loan operations, preferably with emphasis in loan documentation and compliance.
Knowledge of regulatory compliance and documentation.
Must be a highly motivated individual that can handle a heavy workload.
Ability to handle deadlines, prioritize job duties while maintaining multiple loan requests.
Data processing skills.
Basic computer skills normally acquired through an introduction to computers course.
Must feel at ease working with computers.
Must be able to process loans quickly and accurately.
Must possess the ability to work as a team player, providing coverage, and assisting other processors.
Ability to perform under pressure situations and to handle customers' and lenders' needs professionally and effectively.
Ability to be confident in presence of customers.
Sufficient interpersonal skills and characteristics necessary to interact and communicate with customers and bank personnel.
Needs to possess knowledge of the appropriate documents to use for each type of loan utilized.
Must adapt to change quickly.
Knowledge of different entity structures; such as Corporations, Partnerships, LLC, LLP, etc.
Organizational skills necessary to keep documents properly safeguarded and funneled through proper channels.
Technical skills with a variety of office equipment, including loan processor, calculator, typewriter, telephone, laser printer, and fax machine.
Knowledge of general banking procedures acquired through basic banking courses, such as Principles of Banking.
Organizational skills necessary to maintain a clean, neat, and professional appearance.
Willingness to work an eight-hour day.

Responsibilities

Process and deliver application disclosures and other related documents for Consumer 1-4 family residential loan applications for all bank locations, ensuring disclosures are provided within the designated timeframe per regulation.
Ensure all application disclosures are accurate and compliant with Reg Z, RESPA, and all other regulatory requirements.
Provide updated application disclosures within the required timeframe per regulation.
Communicate to lender/loan assistant when a loan request is identified as a High Price Mortgage Loan.
Request flood determination on all consumer 1-4 family residential properties and notify appropriate personnel if the property is in a designated special flood hazard area, producing required flood notification documents.
Process all closing documents for personal, commercial, real estate, and credit line loans for all bank locations on the LPL loan processing system.
Prepare completed loans processed for data entry and all accounting entries necessary to properly activate all new loans, ensuring that all loan transactions requiring on-line entry are passed on to the Loan Data Entry Clerk.
Delete all loans processed but not closed from the LPL system to ensure accuracy of monthly reports.
Follow up on all processed loans not returned from lenders within a reasonable period to ensure the safety and security of original loan documents.
Deliver loan documents requiring electronic signing upon request from lending staff.
Monitor loan worksheets for proper underwriting exception approval and monitor for proper customer acknowledgment of TRID disclosures.
Verify all payoffs before processing of any renewal or refinanced loan to ensure accuracy.
Work in conjunction with Loan Processor II, Loan Operations Officer, Loan Processing Supervisor, and any other pertinent personnel to protect the integrity and accuracy of documents processed from the LPL loan system.
Prepare all "change in terms" agreements per lenders instructions.
Report all critical warnings noted on any loans or applications processed in Laser Pro to the Loan Processing Manager, Loan Operations Officer, and/or Operations Officer prior to mailing application disclosures or delivering closing documents to the lender.
Inform proper authority of any supplies needed for maintenance and upkeep of the laser printer and fax machine.
Verify, through Corporate Records, all corporate, partnership, LLC, LLP, etc. legal titles if proper verifications have not been provided prior to processing of new loans. Verify through the Military Lending Act database all individuals as pertains to loan processing and on loans that require MLA verification.
Release possessory documents held in collateral box upon payout of loan to proper owners, as well as prepare new assignments and collateral receipts for any possessory documents that are changed.
Exercise confidentiality in regards to any and all financial data provided to the bank by customers.
Complete training as required.
Perform backup duties and miscellaneous duties as required.