Loan Processor II Resident-Consumer Lending

First Commerce Bank•Lakewood Township, NJ

11d•Onsite

About The Position

Responsible for assembling, verifying, and processing residential and consumer loan applications from application through closing in compliance with Bank policy and applicable regulations. This role involves coordinating work within the department and with other departments, complying with operating policies and procedures, communicating with appropriate personnel, responding to inquiries, and maintaining records and providing reports. The Loan Processor II ensures a complete, compliant, and investor-ready loan file, reviews applications for accuracy, collects and reviews supporting documentation, examines loan documentation for accuracy and completeness prior to submission to Underwriting, issues required disclosures, orders appraisals and flood certifications, assists in resolving application issues, assists Underwriting in clearing conditions, verifies closing documentation, completes flood determination worksheets, coordinates with Closing, oversees secondary market functions, prepares and submits files to the secondary market investor, provides excellent customer service, and assists staff and customers with loan-related questions. The role also involves tracking loans for various exceptions and ensuring compliance with FDIC guidelines for RESPA, TILA, HMDA, and other regulatory requirements. Additionally, the position requires completing all internal, Bank-required, and investor-required compliance training courses, abiding by laws and policies to prevent harassment and discrimination, cooperating with risk management and compliance efforts, coordinating work tasks, communicating with management and staff, responding to inquiries, and maintaining records and providing reports.

Requirements

High School diploma or equivalent required.
Minimum of three (3) to five (5) years of experience in residential mortgage processing or a similar professional office environment required.
Basic working knowledge of the mortgage industry and applicable regulations required.
Proficient in English, reading, writing, grammar, and mathematics skills.
Proficient verbal and interpersonal communication skills.
Strong time management skills.
Proficient PC skills including Microsoft Office and Encompass 360 (or comparable LOS).
Thorough knowledge of Bank products and services.
Ability to manage multiple tasks in a fast-paced, changing environment with professionalism and courtesy.
Excellent analytical, reasoning, and organizational skills.
Detail-oriented with high accuracy.
Working knowledge of RESPA, TILA, and HMDA disclosure timing requirements.
A minimum of three (3) to five (5) years of residential mortgage processing experience required.

Responsibilities

Assembling, verifying, and processing residential and consumer loan applications from application through closing in compliance with Bank policy and applicable regulations.
Coordinating work within the department and with other departments.
Complying with operating policies and procedures established for the loan processing function.
Communicating with appropriate personnel.
Responding to inquiries or requests for information.
Maintaining appropriate records and providing assigned reports.
Processing residential and consumer loan applications from application through closing to ensure a complete, compliant, and investor-ready loan file.
Reviewing loan applications entered into the applicable lending system for completeness and accuracy.
Collecting and reviewing supporting documentation, including income, asset, and credit documentation.
Examining loan documentation for accuracy and completeness prior to submission to Underwriting.
Issuing Loan Estimates and other required disclosures in accordance with applicable compliance regulations and timing requirements.
Ordering the appraisal upon receipt of a signed intent to proceed.
Ordering flood hazard certifications and IRS Form 4506-T tax transcripts.
Assisting in resolving mortgage application issues with investors, outside vendors, and software providers.
Assisting Underwriting in clearing approval conditions and preparing the file for final underwriting decision.
Verifying that required closing documentation is complete and accurate in the file.
Completing flood determination worksheets and verifying flood and hazard insurance coverage to ensure adequate coverage of the subject property.
Coordinating with Closing to create a seamless closing process for the customer.
Overseeing and performing certain secondary market functions, including tracking and communicating rate lock information.
Preparing and submitting files to the secondary market investor, as applicable.
Providing excellent customer service to Loan Officers, and internal and external customers, while fostering cooperation with other departments to ensure efficient, professional residential and consumer loan processing and closings.
Assisting Bank staff and customers with questions regarding residential and consumer loan requirements and processes.
Tracking loans on a monthly basis for Loan Policy Exceptions (LPE), Community Reinvestment Act (CRA) loans, Home Mortgage Disclosure Act (HMDA) loans, and withdrawn and denied loans.
Overseeing individual file compliance with FDIC guidelines for RESPA, TILA, HMDA, and other applicable regulatory requirements.
Completing all internal, Bank-required, and investor-required compliance training courses.
Abiding by the current laws and organizational policies and procedures designed and implemented to promote an environment which is free of harassment and other forms of illegal discriminatory behavior in the workplace.
Cooperating with, participating in, and supporting the adherence to all internal policies, procedures, and practices in support of risk management and overall safety and soundness and the Bank's compliance with all regulatory requirements.
Coordinating specific work tasks with other personnel within the department as well as with other departments in order to ensure the smooth and efficient flow of information.
Communicating with management and staff personnel in order to integrate goals and activities.
Responding to inquiries relating to his/her particular area, or to requests from other Bank personnel, customers, etc., within given time frames and within established policy.
Performing tasks which are supportive in nature to the essential functions of the job, but which may be altered or re-designed depending upon individual circumstances.