Real Estate Lending Assistant

Farmers Trust and Savings Bank•Spencer, IA

1d•Onsite

About The Position

The Real Estate Lending Assistant supports the Real Estate Lending staff, primarily by preparing loan documents and ensuring required documents are in place before loan closings. The role provides customer service and product support, assists with real estate loan applications and processing, and helps maintain compliance and timely completion of loan requirements. The employee must be able to register and obtain approval in the National Mortgage Licensing System and Registry and pass the required criminal background check for entry into the system. The position also supports ongoing servicing and administration for in-house and sold loans, including payment and insurance tracking, escrow and tax tasks, reporting, file organization and retention, reconciliations, and communications with customers and correspondent partners. The assistant works with lenders and external parties such as abstractors, attorneys, settlement companies, and appraisers. The role is based in Spencer, Iowa, and is non-exempt and full-time. The work involves regular talking and hearing; frequent standing, walking, sitting, handling objects or controls, and reaching; and occasional lifting or moving of up to 10 pounds and, at times, up to 50 pounds. Close vision and the ability to adjust focus are required. The work environment usually has moderate noise and includes potential exposure to a bank robbery; detailed instructions and procedures are provided to help minimize risks.

Requirements

High school degree or equivalent.
Ability to register and obtain approval in the National Mortgage Licensing System and Registry, including passing a criminal background check required for entry.
Ability to manage time efficiently, multitask, prioritize shifting responsibilities, and maintain strong attention to detail and organization.
Ability to provide professional, courteous, confidential customer service and respond appropriately to customer needs.
Knowledge of economic and accounting principles and practices, financial markets, banking, and financial data analysis and reporting.
Knowledge of English language structure, vocabulary, spelling, composition, and grammar.
Ability to perform arithmetic and calculate rates, ratios, and percentages.
Basic ability to operate Microsoft PC software and proficiency in Word and Excel.
Competence using the internet and PC to gather information from core systems.
Good typing and written communication skills, along with good verbal communication and listening skills.
Ability to handle multiple tasks, meet deadlines, follow directions, and handle customer and company information confidentially.
Ability to adjust to changing work situations, remain composed under pressure, and exercise independent judgment under moderate supervision.
Ability to meet the physical demands of the position, including occasional lifting or moving of up to 50 pounds and required vision capabilities.

Nice To Haves

College degree in Business, Finance, or a real estate-related field.
Previous experience with real estate loan support.
Solid understanding of electronic banking processes and terminology.
Knowledge of sales and marketing principles and methods, including product promotion, sales techniques, and sales control systems.
Knowledge of laws, legal codes, court procedures, government regulations, and related rules.

Responsibilities

Provide prompt, courteous, professional, and confidential service to customers and affiliates.
Provide real estate loan applications to interested customers and assist customers with questions about loans sold to servicing agents.
Prepare and mail Loan Estimate and Closing Disclosure packages as requested.
Review title opinions for liens and judgments; order lien searches; process and order payoffs; handle title guarantees; and secure insurance for closing.
Prepare and review loan closing documents and closing checklists as directed by the lender.
Maintain positive working relationships with abstractors, attorneys, settlement companies, and appraisers, and keep fee schedules updated.
Prepare quarterly derivative lists and perform daily checks of the previous day's maintenance input for coworkers.
Update published real estate rates on the website and Mortgagebot LOS daily.
Provide payoff figures, approve Home Equity Line advances, and support home improvement and home construction loans.
Obtain current licenses from approved appraisers each June.
Update information needed for Form 1098 reporting quarterly; prepare year-end totals for Forms 1098, 1099 Misc., and 1099S; and submit MCC Form 8399 to the IRS annually.
Pay monthly bills for Fannie Mae, VISA card, CBC Flood Determination, and Equifax credit report fees.
Pull flood determinations, order 4506C tax transcripts, obtain loan-processing verification documents as directed by the lender, and track receipt.
Process mortgage releases for paid-off loans and loan advances as needed.
Track homeowners, flood, and private mortgage insurance coverage for in-house loans; pay premiums on escrow-billed loans as needed; notify customers and follow up on expired or cancelled policies; and update escrowed insurance premiums at renewal.
Follow up on closed loan files for Form 900/901, attorney title opinions, title guarantees, and final abstracting in a timely manner.
Maintain ARCH force-placed insurance and organize funded loan files using the appropriate checklist.
Make general ledger funding entries for closed loans and pay billing invoices promptly.
Upload and send original loan documents to correspondent partners as applicable.
Review and mail monthly home equity access statements and prepare, review, and mail annual escrow analyses.
Prepare and mail cure notices as directed by the lender.
Assist with details relating to repossessed properties when directed by a lending officer.
Pay semiannual property taxes on escrowed real estate loans and bank taxes, and pay quarterly accrued interest on escrowed real estate loans.
Monitor the seven-year retention period for closed and paid-off real estate loan files and reconcile bank statements.
Provide backup coverage in the department, including cross-trained escrow analysis, tax, and insurance tracking duties, and back up peers' other functions.
Look for appropriate opportunities to cross-sell other bank products.
Participate in outside civic activities that enhance the bank, personal growth, and the community, as well as bank-sponsored events and required training.
Obtain verification documents for loan applications and track progress to meet deadlines.
Monitor secondary market and Iowa Finance Authority/First Home Loan packages submitted to underwriting for pre-closing commitment hold items and help obtain required documentation promptly when needed.
Perform other duties as assigned.