Mortgage Loan Processor I, II or Senior

Old Second National Bank•Downers Grove, IL

1d•$46,500 - $70,000•Hybrid

About The Position

The Mortgage Loan Processor will be responsible for processing mortgage loan applications, verifying and analyzing loan documents, and ensuring that all loan documents are accurate and compliant with applicable regulations. It requires strong knowledge of the loan process to meet elevated quantity and quality production standards. The Loan Processor reports to the Loan Processing Manager and interacts regularly with Mortgage Loan Officers, Mortgage Operations, external business partners, and customers as appropriate.

Requirements

High school diploma (or equivalent) and one or more years of loan processing experience; or equivalent combination of education and experience.
High school diploma (or equivalent) and two or more years of loan processing experience; or equivalent combination of education and experience.
High school diploma (or equivalent) and four or more years of loan processing experience; or equivalent combination of education and experience.
Loan processing software proficiency
Strong written and verbal communication skills
Strong organization and time management skills with excellent attention to detail and follow up
Proficiency in Word, Excel, internet navigation, FNMA DU and FHLMC LP.
Ability to work independently and as part of a team
Maintains positive attitude, aptitude to lean, and the drive to grow in the mortgage business.

Nice To Haves

Focus in secondary market residential lending
Proficient in Encompass

Responsibilities

Serve as a liaison between borrowers, loan officers, realtors, attorneys and underwriting to support loan approval.
Collects/Orders appropriate documents and reviews to ensure they are complete and accurate including: Appraisal, flood, title, bank statements, homeowners insurance, verifications, credit, disclosures, AUS findings, condo documents, mortgage insurance, fraud system results, Early Check, and other third-party vendors.
Maintains a monthly pipeline of 30-40 loans, closing approximately 20 loans per month.
Maintains data integrity for information entered into loan system for FHA/VA/USDA/CONV/HELOC and HELoans.
Organizes loan files in preparation for underwriting and validates income and matches assets to the documentation in the system
Reviews initial loan approval; works with the MLO to clear conditions.
Resubmits loans for clear-to-close.
Communicates daily with MLOs and Underwriters.
Maintains a higher volume monthly pipeline of 40-50 loans, closing approximately 35 loans per month.
Conducts pre-underwriting work with a focus on calculating income and assets; addresses potential obstacles prior to submission to Underwriting.
Serves as a Processing SME, providing Processing guidance and direction to less experienced processors and MLOs.