Mortgage Loan Processor - Residential Lending

WesBanco Bank, Inc.•Bowie, MD

7h•$26 - $29

About The Position

The Mortgage Loan Processor supports the residential mortgage loan process by working with the Mortgage Loan Officer (MLO) and customer to gather, organize, and review required documents and reports for underwriting consideration. The processor also assists in preparing approved mortgage loan requests for closing. The role accepts mortgage applications and related files in Encompass, prepares complete paperless files for underwriting, orders and preliminarily reviews reports, verifies application information and supporting documentation, and follows up with customers for missing or incorrect documents. The processor communicates with customers, MLOs, realtors, underwriters, and closers, provides status updates, helps clear outstanding loan conditions, and coordinates the transfer of approved files to Closing. The position is expected to meet bank processing milestones and provide exceptional professional service while complying with applicable banking policies, procedures, laws, and regulations.

Requirements

Associate's degree or equivalent from a two-year college or technical school; or at least six months of experience and/or training; or an equivalent combination of education and experience.
Strong customer service skills and willingness to provide service that differentiates the bank from competitors.
Professional demeanor in appearance, interpersonal relations, work ethic, and attitude.
Clear, concise, effective written and oral communication skills, including the ability to communicate collaboratively and with a solutions-oriented approach.
Ability to process all portfolio and secondary-market loans.
Ability to review personal and business tax returns to determine qualifying income.
Strong organizational and time-management skills.
Ability to write routine reports and correspondence and speak effectively before groups of customers or organization employees.
Ability to calculate figures and amounts such as discounts, interest, commissions, and percentages.
Experience and proficiency with Microsoft Office and mortgage loan processing software.
Ability to deal with problems involving several concrete variables in standardized situations.
Ability to multitask under sometimes stressful conditions.
Ability to accurately type 30 words per minute.
Ability to acquire and maintain proficiency in banking policies and procedures, comply with applicable laws and regulations, and complete assigned compliance training in a timely manner.

Responsibilities

Accept the loan application and related file in Encompass from the MLO.
Prepare a complete, paperless loan file in Encompass for underwriting.
Confirm that application fees and related general ledger tickets are in the file.
Confirm that a sales agreement is in the file for purchase transactions.
Collect required documents and reports to process mortgage loan requests.
Order appraisals, flood certifications, title searches or title insurance, and tax transcripts (Form 4506T).
Perform preliminary reviews of reports when received.
Organize files in Encompass according to loan type.
Review loan applications, disclosures, and required documentation for completeness and accuracy.
Verify that applications are complete and accurate based on supporting documentation, and that disclosures are complete and signed as required.
Review and verify income information, including reviewing or preparing self-employment income analyses.
Verify assets and sufficient funds for required equity, prepaid expenses, and closing costs.
Review credit reports and compare them with reported debts and payments.
Determine whether additional documentation is required.
Complete a welcome call with the customer to review loan terms, the application process, and required information.
Follow up on documents that are not returned promptly or are incorrect, such as Form 4506T.
Run high-cost tests and DU/LP.
Submit completed paperless files to underwriting.
Take status calls from customers, MLOs, or realtors.
Notify customers and loan officers of underwriting decisions.
For approved loans, gather information needed to clear outstanding loan conditions.
Assist in coordinating closing and send files to Closing.
Consistently meet processing milestones established by the bank.
Provide professional service to mortgage customers, originators, underwriters, and closers.
Acquire and maintain proficiency in bank policies and procedures, comply with applicable laws and regulations, and complete assigned compliance training on time.

Benefits

17 days of paid time off (PTO).
5 days of short-term disability (STD).
11 annual paid holidays and one annual floating holiday.
Medical, dental, and vision coverage.
Health Care Flexible Spending Account.
Dependent Care Flexible Spending Account.
Transportation Fringe Benefit Plan.
Group life insurance.
Long-term disability coverage.
Optional life insurance.
Access to voluntary benefit products, including cancer, term and universal life, accident, short-term disability, and critical illness policies, as well as other ancillary benefit products.
401(k) with employee match.
Eligible for approved overtime.