Loan Processor

Bank of England•Little Rock, AR

11h

About The Position

Typical business work hours are 8:00 A.M. to 5:00 P.M. Monday through Friday, some over-time may be required. As a Mortgage Loan Processor, you will be expected to demonstrate a sense of urgency, willingness to work closely with others, and be part of a team whose primary focus is service to our customers as you will be their main point of contact. This is a non-exempt position. Purpose: Support one or more high producing Loan Officers and serve as a contact point for all parties including Loan Officer, Borrower, Underwriters and Sales Agents. Gather information needed by Underwriting in order to decision loan applications and forward approved loan files to closers.

Requirements

High School Diploma or GED equivalent required; some college preferred; College degree desired.
Intermediate to computer proficiency skills with MS Office, Excel and Mortgage Loan Applications/Software) Encompass 360 desired.
A minimum of one (1) year of recent work experience in mortgage loan support or processing is required.
Excellent customer service skills; written and oral communication skills and ability to demonstrate control, flexibility and maintain quality and high productivity when dealing with customers and changing work demand.
Ability to multi-task and operate in a high-volume, fast-paced environment.
Knowledge of federal and state regulatory requirements a plus.
Must be able to perform essential responsibilities with or without reasonable accommodation.
Ability to occasionally move about inside the office to access files, office machinery, ascend/descend stairs/ladder or to stoop, crouch or kneel to pull boxes from shelving.
Ability to occasionally move about outside the office when visiting potential clients and walking with them to survey various construction work sites.
Position requires person to be able to remain in a stationary position 80% while performing the essential functions of this job. The employee is frequently sitting or standing.
While performing the essential functions of this job, the employee is frequently required to stand, walk, sit, use hands to finger, speak and hear; read and write; keyboard; push, pull and/or lift up to 30 pounds; lift and/or move up to 30 pounds.
Ability to operate office equipment of varying heights, sizes and positions by reaching, handling, fingering, bending, stooping, kneeling and feeling.
Ability to obtain documents, files, and supplies of varying sizes, heights and weights by reaching, handling, stretching, lifting, bending, climbing, stooping, kneeling and feeling.
Ability to effectively exchange information in a verbal, visual and written fashion.
Ability to apply common sense understanding in order to problem solve by analyzing, observing, and prioritizing.
Ability to read materials and identify relevant details; judge accuracy and appropriateness.
Ability to effectively interact with others, including but not limited to internal and/or external customers, members of management and vendors.
Ability to work a regular, predictable schedule
Ability to establish and maintain effective good working relationships with fellow employees, branch management, corporate management, clients and the general public.

Nice To Haves

Knowledge of federal and state regulatory requirements a plus.

Responsibilities

Validate assets and liabilities listed on the loan application by gathering information from third party resources (examples include obtaining bank statements to verify deposit balances and matching liabilities listed against credit reports). Validate additional information provided by loan applicant on the application (including Verification of Employment, Verification of Deposits, flood certification, HMDA information, etc.).
Gather documentation specifically required by FHA, VA, or USDA Rural Development for prospective customers applying for those loan programs in accordance with policies & procedures, register loans on the origination system.
Issue proper disclosures as required by federal regulatory compliance and review rate locks and point objectives’ for accuracy, ensure overage and underage is approved as well as waiver of any fees. Set up files & order all necessary exhibits for appraisals and credit reports, check alternative documentation for accuracy and potential problems. Review flood and tax certificates and surveys noting all issue’s upon receipt, review all documents thoroughly to ensure they meet Bank of England Mortgage guidelines before submission to Underwriting.
Provide all required information to underwriters for loan decision – if additional information is needed, contact Loan Officer and/or customer to obtain needed information.
For refinance loan applications that are approved, request payoff information for all existing mortgage loans/liens.
Obtain list from underwriters of conditions necessary to close loan and works with customer and Loan Officer to obtain necessary information – submitting it to underwriter.
Verifies that all files receiving “clear to close” approval contain Title Commitment, Proof of Homeowners Insurance, Insured Closing Letter, Wiring Instructions and Tax Report.
Generates documents and maintains logs to ensure complete and accurate compliance with RESPA, Regulation Z, Fair Lending, HMDA, Bank Secrecy Act and other regulations regarding the mortgage application/origination process. Understands and complies with mortgage industry regulations, including the Fair Credit Reporting Act, the Real Estate Settlement Procedures Act, the Community Reinvestment Act, Truth-in-Lending laws, etc.
Protect Company’s reputation and image by maintaining Borrower confidence; deliver a high level of customer service and by keeping mortgage loan information confidential.
Work as directed by Management.