Merchants Bank-posted 7 days ago
Full-time • Entry Level
Onsite • Hastings, MN
251-500 employees

Merchants Bank is seeking a Mortgage Loan Processor. This position can work in office at any of our branch locations in MN or WI. This position requires high attention to detail and the ability to perform a variety of loan tasks to ensure that mortgage loan application data and supporting documentation are complete, accurate and compliant within lending and regulatory policies. Job duties will be performed within established expectations, with an emphasis on providing a superior customer service experience for all customers, lenders, as well other contacts, both internal and external and submitting quality files for Underwriting within the established time frames. Mortgage experience preferred. Must possess a positive attitude, be able to multi-task and work under deadlines, able to work in a fast-paced environment, and have strong communication skills. Merchants Bank offers competitive wages and benefits for our full-time employees including health, dental, life, disability and vision insurance; flexible spending accounts, 401(k) and ESOP retirement plans; bonus plan; paid time off; tuition reimbursement; and a variety of voluntary supplemental insurance options. Please click on Apply Now or apply in person at any Merchants Bank location. Questions can be emailed to [email protected]. Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities. Job Summary: This position requires high attention to detail and the ability to perform a variety of loan tasks to ensure that mortgage loan application data and supporting documentation are complete, accurate and compliant within lending and regulatory policies. Job duties will be performed within established expectations, with an emphasis on providing a superior customer service experience for all customers, lenders, as well other contacts, both internal and external and submitting quality files for Underwriting within the established time frames.

  • Perform Disclosure Desk duties and Processing Help Desk duties as assigned
  • Have knowledge of TRID timing and disclosure and re-disclosure requirements.
  • Assist with obtaining required information for mortgage loan applicants regarding verification of employment and deposits, appraisals, credit reports, title work, required insurance coverage, and any other pertinent information necessary for the loan file.
  • Process and analyze documents received for mortgage loans. Load and categorize documents into the LOS.
  • Input required customer information into secondary market software system for continued follow-up.
  • Order services such as title, appraisal, flood, fraud
  • Obtain and analyze homeowners’ insurance, flood insurance, condo insurance to ensure adequate coverage
  • Prepare and submit loans to underwriting by gathering supporting documentation, verifying the information on the original application, and updating and resubmitting the loan based on verified documentation.
  • Interpret underwriting results and collect information required to clear contingencies for final approval.
  • Contact creditors for loan payoff figures for mortgage customers.
  • Review closing documents for mortgage loans prior to closing and confirm adequate communication has been made to ensure at close conditions are met.
  • Assist post-closing department with the follow-up on missing documentation when needed.
  • Review files with lenders on a regular basis and assist with pipeline management.
  • Arrange and coordinate loan closing with title companies, attorneys, loan officers and/or borrowers and mortgage loan closer.
  • Ability to calculate income from pay stubs and tax returns.
  • Have knowledge of related compliance regulations such as RESPA, Reg B, Fair Lending, HMDA, etc.
  • Analyze construction draws and required documentation
  • Perform any other duties as requested by management to assist other departments, as necessary.
  • Serve as back up for other functions in the department.
  • Regular and dependable attendance is an essential function for this job.
  • Employee will be expected to contribute to a positive working environment through words and actions.
  • Employee will be expected to greet internal and external customers in a friendly and outgoing manner.
  • Learn and stay current on Secondary Market investor guidelines and in-house mortgage policies.
  • Employee will be expected to complete compliance and product knowledge assignments in a timely manner.
  • Must possess a positive attitude
  • Be able to multi-task and work under deadlines
  • Able to work in a fast-paced environment
  • Have strong communication skills
  • Personal computer skills
  • Good typing skills
  • Effective telephone and written communication skills
  • Must have strong organizational skills and be able to multi-task
  • Must be a good team worker
  • Mortgage Processing experience preferred
  • health insurance
  • dental insurance
  • life insurance
  • disability insurance
  • vision insurance
  • flexible spending accounts
  • 401(k)
  • ESOP retirement plans
  • bonus plan
  • paid time off
  • tuition reimbursement
  • voluntary supplemental insurance options
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